Bloomberg — Venezuela’s state-owned oil company, facing staffing shortages, has hired international law firm Greenberg Traurig to help streamline contract negotiations with numerous companies ahead of a key regulatory deadline in August. The law firm confirmed its relationship with Petróleos de Venezuela S.A. (PDVSA) in an emailed statement. “Greenberg Traurig is advising PDVSA on potential […]
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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 […]
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The Daily Journal — Venezuela’s National Academy of Economic Sciences (ANCE) has warned that the country will require a “significant reduction in the nominal value of its debt” and support from multilateral institutions such as the International Monetary Fund (IMF) if it hopes to achieve a viable and internationally credible restructuring of its external obligations. […]
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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 […]
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The Daily Journal — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued General License No. 50B. This measure selectively authorizes six major global energy corporations and their subsidiaries to maintain and conduct oil and gas operations in Venezuela. OFAC Director Bradley T. Smith signed the regulatory instrument, which took […]
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Bloomberg — Centerview Partners remained in negotiations with Venezuela until last month over a contract worth at least $150 million for its work as the country’s exclusive financial advisor in a debt restructuring process. This figure would far exceed the fees paid in previous sovereign debt operations, according to a draft agreement reviewed by Bloomberg. […]
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The Daily Journal — U.S. oilfield services giant SLB (formerly Schlumberger) announced on Wednesday the signing of a long-term framework agreement with state-owned Petróleos de Venezuela, S.A. (PDVSA). The agreement aims to establish the strategic foundations for the revitalization, technological modernization, and operational optimization of Venezuela’s hydrocarbon industry. Through a memorandum of understanding, the two […]
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The Daily Journal — The Venezuelan government has restructured its legal defense abroad as part of its efforts to prevent the loss of one of its most valuable assets. According to Reuters, Venezuelan authorities hired the international law firm Greenberg Traurig to represent the country in its multibillion-dollar legal dispute with Canadian mining company Crystallex. […]
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The Daily Journal — The president of Petróleos de Venezuela S.A. (PDVSA), Héctor Obregón, praised the strategic partnership between the Venezuelan state-owned oil company and Schlumberger Limited following the signing of a memorandum of understanding. Speaking from Miraflores Palace during an event led by Acting President Delcy Rodríguez, Obregón said the agreement comes “at the […]
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The Daily Journal — Venezuela is preparing to host the Venezuela Energy Week international summit in October 2026, an energy-sector gathering through which the country hopes to attract up to $100 billion in investment as part of its strategy to revive the oil industry. The event will take place in Caracas from October 26 to […]
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