Venezuelan Oil Industry Archives - Page 2 of 2

Gilinski takes control of GeoPark and assumes operations at Bare block in the Orinoco Oil Belt

September 3, 2026September 3, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Oil company GeoPark announced its strategic entry into Venezuela’s oil industry through the acquisition and development of the Bare block, located in the Orinoco Oil Belt, in a transaction that will make the Gilinski Group the company’s controlling shareholder. According to Bloomberg, the transaction includes a 25-year Production Participation Contract (CPP) with […]

Venezuelan crude exports rose 28% in August, driven by shipments to India

September 1, 2026September 1, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Venezuelan crude exports surged in August as U.S. President Donald Trump’s administration seeks to expand its control over the country’s oil sector. Oil tankers loaded an average of 1.114 million barrels per day of Venezuelan crude in August, a 28% increase from July, according to shipping reports, data from Kpler Ltd., and […]

PDVSA Reaches 100,000 Barrels of Gasoline Per Day: Key Supply Factors and Outlook for the Domestic Market

August 22, 2026August 22, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Gasoline production in Venezuela has reached a strategic milestone of at least 100,000 barrels per day, according to recent data from the hydrocarbons sector. This figure marks significant progress for PDVSA and helps stabilize the country’s energy supply. According to sources at the Ministry of Hydrocarbons, this production level “makes it possible […]

Oil equipment supplier SBO puts Venezuela back on its radar

August 20, 2026August 20, 2026Tatiana Da GamaLeave a Comment

Austrian company SBO received an order to deploy its precision technology in Venezuela The Daily Journal.- Venezuela has returned to the business radar of oil equipment supplier SBO after the company received an order to deploy its precision technology in the South American country. According to Klaus Mader, CEO of the Austrian company, the Venezuelan […]

Slight increase in Venezuelan oil production contrasts with sharp drop in exports

August 14, 2026August 14, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Venezuela’s oil industry showed conflicting signals in July: while production continued to expand slightly, crude exports fell sharply, according to OPEC’s monthly report and shipping data. Secondary sources cited by OPEC placed Venezuelan production at 1.117 million barrels per day (bpd) in July, just 13,000 bpd above June’s 1.104 million bpd. The […]

Recovery of Venezuela’s oil industry will require at least US$100 billion and a decade of work

August 8, 2026August 8, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Rebuilding Venezuela’s energy infrastructure, which has suffered severe damage from corrosion and years of accumulated deterioration, will require multibillion-dollar investments that industry estimates place between US$100 billion and US$220 billion. Economist Francisco Monaldi, director of the Latin America Energy Program at Rice University’s Baker Institute for Public Policy, estimates that the minimum […]