By Héctor Sánchez The Constitution of the Bolivarian Republic of Venezuela leaves no room for doubt: sovereignty belongs exclusively and permanently to the people. That principle, which in 1999 promised a transition from representative democracy to a participatory and leading democracy, now appears to have surrendered. As sociologist and Central University of Venezuela (UCV) professor […]
Continue Reading
The Daily Journal — Major refineries and energy companies in the United States, Europe, and Asia are increasing their direct purchases of Venezuelan crude from Petróleos de Venezuela S.A. (PDVSA). According to a Reuters investigation, this strategy is beginning to reduce the role of the large trading houses that dominated the country’s oil exports during […]
Continue Reading
Audio: https://clyp.it/ne1oh5te Julio A. López, Editor-in-Chief — Petronas, through its subsidiary Petronas Suriname E&P B.V., announced two new hydrocarbon discoveries and a successful appraisal well in Block 52, offshore Suriname, bringing its total number of successful wells in the country to eight and surpassing 1 billion barrels of oil equivalent in recoverable resources. Three Wells, Three […]
Continue Reading
Julio A. López, Editor-in-Chief. — President Donald Trump announced Monday that the United States is “reinstating” a blockade on Iranian vessels transiting the Strait of Hormuz and will impose a 20% transit fee based on the value of all cargo passing through the waterway, as the conflict with Iran intensifies following the collapse of peace […]
Continue Reading
Listen to the audio of the Editorial Summary here: https://clyp.it/mdkelqzu Julio A. López, Editor-in-Chief. — Geology does not write checks, drill wells, or rebuild pipelines. Venezuela has oil and gas, including known oil and gas fields. The problem lies in converting that geological wealth into financeable projects, production, employment, taxes, and infrastructure. The legal reform opened […]
Continue Reading
Audio summary of the news article: https://clyp.it/l3hja4yp PDF of the Regulations of the Organic Hydrocarbons Law: https://drive.google.com/file/d/1j6NvstM1su_GMrxLxW82bveTjvVBdm1X/view?usp=sharing Julio A. López, Editor-in-Chief. — Geology does not write checks, drill wells, or rebuild pipelines. Venezuela has oil and gas, including known oil and gas fields. The problem lies in converting that geological wealth into financeable projects, production, employment, taxes, […]
Continue Reading
The Daily Journal — After months of disruptions caused by the conflict between the United States and Iran, India restored normal oil import levels during June. Record shipments from Russia, along with increased supplies from Angola, Iran, Venezuela, Brazil, and the United Arab Emirates, helped offset logistical bottlenecks stemming from the closure of the Strait […]
Continue Reading
It’s Time for Oil Contracts. Listen to the Editorial audio here: https://clyp.it/1mybbqxi Julio A. López, Editor-in-Chief.— For years, Venezuela discussed sanctions, licenses, restrictions, international litigation, and political disputes. However, for major international oil companies, a much simpler and more practical question exists: What will the rules of the game be? The recent hiring of the […]
Continue Reading
The Daily Journal — Petróleos de Venezuela S.A. (Pdvsa) and Spanish energy corporation Repsol signed a new Memorandum of Understanding on oil and gas cooperation this Tuesday at Miraflores Palace in Caracas. According to official information, the agreement seeks to drive a large-scale revival of Venezuela’s hydrocarbon industry. Officials finalized the deal during a high-level […]
Continue Reading
The Daily Journal — The United States has restructured its sanctions regime on Venezuela by issuing four new general licenses that expand operating opportunities for U.S. and allied companies in the country’s oil, petrochemical, natural gas, and electricity sectors under a framework of financial oversight and geopolitical restrictions. The U.S. Department of the Treasury’s Office […]
Continue Reading
