Oil Archives - Page 4 of 4 - The Daily Journal

Venezuela becomes India’s fourth-largest oil supplier

May 26, 2026May 30, 2026Samuel YepezLeave a Comment

EFE.– Venezuela has become the fourth-largest supplier of oil to India in May and April, behind Russia, the United Arab Emirates (UAE), and Saudi Arabia, at a time when the Asian country’s energy security is under pressure due to the war in the Middle East. India imported 319.2 thousand barrels per day (kbd) of Venezuelan […]

Francisco Rodríguez Denounces Alleged Diversion of Funds by Former Citgo Executives Linked to Guaidó

May 25, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- Economist Francisco Rodríguez has denounced an alleged diversion of funds from Citgo’s Simón Bolívar Foundation, which is linked to the political structure formerly headed by Juan Guaidó and to the ad hoc management of PDVSA appointed during that period. Through a post published on his X account, Rodríguez described as “extremely troubling” […]

Venezuelan Minister of Hydrocarbons Evaluated Project Portfolio with Private Investors in Texas

May 24, 2026May 30, 2026NerlayLeave a Comment

The Daily Journal.- A high-level official delegation traveled to the state of Texas, United States, with the aim of consolidating strategic alliances oriented toward reactivating the national oil industry. Venezuela’s Minister of Hydrocarbons, Paula Henao, and the Vice President for Exploration and Production of Petróleos de Venezuela (PDVSA), Yovanny Martínez, participated in the Venezuela Exploration […]

ExxonMobil Returns to Venezuela

May 21, 2026May 30, 2026NerlayLeave a Comment

Julio A. López, Editor-in-Chief.- According to highly reliable sources linked to the U.S. Department of Energy, the American government has reportedly reached an agreement with ExxonMobil to facilitate its return to oil production activities in Venezuela. The move could become one of the most symbolic and strategic developments in the global energy industry. As discreet […]

Venezuelan Government Advances New Contractual Framework to Accelerate Investment by Foreign Oil Companies

May 18, 2026May 30, 2026NerlayLeave a Comment

The Daily Journal – The Government of Venezuela and the state oil company Petróleos de Venezuela S.A. (PDVSA) have begun distributing to potential investors and energy service companies a draft regulation of the new oil law and a key model contract, according to reports published by news agencies and specialized media outlets. The new regulatory […]

Venezuela Argues in U.S. Court That Citgo Is Worth Nearly Three Times the Sale Offer

May 15, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- Lawyers representing Venezuela have asked a U.S. court to suspend the sale process of Citgo Petroleum, arguing that the company’s valuation has increased significantly since the auction of its parent company, PDV Holding, was approved in late 2024 . According to Reuters, attorney Alexandra Cumings stated in a letter to Delaware […]

Experts, Academics, and Politicians File Annulment Request Against the Hydrocarbons Law Reform

May 14, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- A group of academics, oil experts, lawyers, and political leaders appeared this Thursday at the headquarters of the Supreme Court of Justice (TSJ) to file a request for annulment on constitutional grounds against the reform of the Organic Hydrocarbons Law, approved last January. Among the petitioners are oil expert Carlos Mendoza Potellá […]

Venezuelan Oil Breaks the $90 Barrier for the First Time in a Decade

May 13, 2026May 30, 2026Samuel YepezLeave a Comment

The Daily Journal.- Merey 16 crude, the main benchmark for Venezuelan oil, reached an average price of $90.47 per barrel, marking a historic milestone by surpassing the $90 barrier for the first time in more than ten years. According to a report by the Venezuelan News Agency (AVN), based on the latest monthly report from […]