The Daily Journal.- The U.S. government announced Wednesday that it had lifted sanctions against Jorge Rodríguez, president of Venezuela’s National Assembly. According to a statement from the Treasury Department’s Office of Foreign Assets Control (OFAC), the agency removed Rodríguez’s name from its sanctions list. The Treasury Department initially placed Rodríguez on its sanctions list on […]
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Coal production plunged to 350,000 short tons in 2024 from 8.7 million in 2000 The Daily Journal.- Glencore Plc, Peabody Energy Corp. and Heeney Capital are considering agreements to produce coal in Venezuela’s Zulia state. The talks have focused on operational control and offtake rights rather than direct ownership of the mines. According to a […]
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The state-owned oil company took advantage of eased U.S. sanctions to add heavy Merey crude to its refining mix The Daily Journal.- In a strategic move to secure energy supplies and reduce costs, state-owned Indian Oil Corporation (IOC) has advanced an industrial modernization plan aimed at increasing the complex’s capacity to 18 million metric tons […]
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The Daily Journal. — The United States updated on Monday the licensing framework governing certain commercial and investment activities related to Venezuela’s oil, gas, petrochemical, and electricity sectors through General Licenses 46E, 48D and 49B issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). The new provisions replace previous versions of those […]
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The Daily Journal.- Polish state-owned oil company Orlen lost at least US$424 million in a failed deal to acquire six million barrels of Venezuelan crude, in a transaction that involved a US$230 million advance payment, cryptocurrency and a network of intermediaries in Dubai and Venezuela, according to an investigation published by the Financial Times. Orlen’s […]
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The Daily Journal.— The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) expanded its authorization Monday to allow certain U.S. companies to conduct transactions with Petróleos de Venezuela (PDVSA) and its majority-owned subsidiaries, marking another easing of the sanctions framework governing operations with Venezuela’s oil sector. General License 52C, which OFAC issued on Sept. […]
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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.— The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) authorized on August 21, 2026, the negotiation and execution of contingent contracts aimed at bringing new investment into Venezuela’s telecommunications sector. The measure explicitly allows Venezuelan state entities, particularly the National Telecommunications Commission (CONATEL) and Compañía Anónima Nacional Teléfonos de […]
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Venezuela faces more than US$240 billion in debt, equivalent to 216% of its GDP, according to Bloomberg reports The Daily Journal.- Venezuela’s debt continues to grow as the government of Acting President Delcy Rodríguez prepares a comprehensive restructuring of the country’s external obligations. According to Bloomberg, a new arbitration award in favor of U.S. insurer […]
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Julio A. López, Editor-in-Chief. – The dispute over control of Petrodelta, the joint venture that operates six oil fields in eastern Venezuela, escalated this week. DP Delta Finance B.V., the private partner whose 40% stake the Ministry of Petroleum revoked in May, publicly stepped up its claim and alleged that it had been stripped of […]
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