The Daily Journal.- Spanish energy company Repsol continues to produce around 580 million cubic feet of natural gas per day from the Cardón IV field, which it operates alongside Italy’s Eni in Venezuela, a company source said Wednesday during the Venezuela International Oil and Gas Summit. Production has remained unchanged since March, when the government […]
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The Daily Journal. — The international oil industry is once again turning its attention to Venezuela, with an agenda focused on new investment opportunities, particularly in the natural gas sector, as environmental commitments and the cleanup of longstanding environmental liabilities emerge as major challenges for the energy industry. Some 650 delegates from 30 countries are […]
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Julio A. López.— Venezuela could increase its oil production to approximately 2.58 million barrels per day (b/d) by 2035 under a growth scenario that combines the recovery of existing fields with the development of new projects in the Orinoco Belt, according to a new projection by Rystad Energy. The energy intelligence firm estimates a trajectory […]
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A day earlier, Beijing demanded respect for its energy agreements with Venezuela The Daily Journal.- U.S. Energy Secretary Chris Wright said China will have no rights to collect revenue from Venezuela’s new oil production as efforts move forward to restructure the Caribbean country’s massive debt. In an interview with Bloomberg Television from Caracas, the U.S. […]
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CARACAS — Venezuela’s acting president, Delcy Rodríguez, said Saturday night that the energy agreement with the United States calls for the development of 17 strategic oil fields and aims to reach production of more than 1.5 million barrels per day over its 25-year term. In a statement shared on social media, Rodríguez provided new financial […]
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The Daily Journal – The U.S. Department of the Treasury, through the Office of Foreign Assets Control (OFAC), issued a package of eight amended general licenses related to Venezuela on August 27, 2026, along with updates to several frequently asked questions. The action seeks to redefine the scope of permitted operations for U.S. and foreign […]
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The Daily Journal. — Italian energy company ENI is negotiating new contracts with Venezuela and Petróleos de Venezuela (Pdvsa) to align its operations with the country’s new legal framework for the oil sector. At the same time, the company expects to accelerate development of the Junín 5 project in the Orinoco Oil Belt, Reuters reported. […]
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Reuters — Venezuela’s Ministry of Hydrocarbons has informed PDVSA’s partners that it intends to keep the July 28 deadline for migrating oil and gas contracts to the country’s new legal framework. The ministry has urged company executives to complete negotiations before that date, according to four sources. At the end of January, Venezuela’s National Assembly […]
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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 […]
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The Daily Journal — Venezuela’s acting president, Delcy Rodríguez, signed the Regulations to the Organic Hydrocarbons Law on Wednesday, completing the legal reform launched earlier this year. The new rules could clear the way for agreements that Petróleos de Venezuela S.A. (Pdvsa) reached in recent months with oil companies, commodity traders, and oilfield service providers […]
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