The Daily Journal.- The Merey component of the Organization of the Petroleum Exporting Countries (OPEC) Reference Basket averaged $93.75 per barrel in September, an increase of $16.93 from August, according to the organization’s monthly report. The change represents a monthly increase of approximately 22% in the price of this Venezuelan crude oil, which posted a […]
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Venezuela ranked among India’s leading oil suppliers in August, as the country imported an average of 4.5 million barrels per day. The Daily Journal.- Venezuelan oil accounted for 9% of India’s crude imports in August, according to the monthly report that the Organization of the Petroleum Exporting Countries (OPEC) released on Tuesday. The oil-producing group […]
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The Daily Journal.- Heavy crude and other grades of oil have accumulated across the Americas in recent weeks as historically high maritime freight rates have hindered exports to Asia and Europe. This market paradox has left Asian and European buyers scrambling to secure supplies, with Brent crude prices exceeding $100 per barrel. Consumers in Asia […]
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Héctor Sánchez On October 12, 1492, Christopher Columbus landed on a Caribbean island, convinced—as official school history textbooks taught us—that he had reached the Indies. He brought glass necklaces and little mirrors, along with, of course, weapons and devastating diseases. In exchange for these trinkets, he seized the gold, the land, and the destiny of […]
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The Daily Journal.- Former Colombian President Gustavo Petro arrived at the 30th International Seminar “Political Parties and a New Society,” organized by Mexico’s Labor Party (PT) in Mexico City, to discuss the left, the climate crisis, and the future of energy resources. Instead, he found himself in a confrontation with two lawmakers from Venezuela’s United […]
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The Daily Journal.— Acting President Delcy Rodríguez announced Thursday that her government is negotiating 44 additional agreements in the oil sector, which would add to the 61 already signed by state-owned Petróleos de Venezuela (PDVSA), bringing the total to 105 agreements so far this year. “In addition to the 61 agreements that PDVSA has already […]
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The Daily Journal.— U.S.-based Pacific Coast Energy Company (PCEC) plans to invest $3.5 billion over the life of its contracts with Petróleos de Venezuela (PDVSA) to reactivate and develop oil fields in the Delta and Cabimas blocks, the company said. PCEC, a California-based company specializing in heavy crude production, took over operations at the fields […]
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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.- Venezuelan oil exports to the United States averaged 451,000 barrels per day through the week ending September 18, marking a 228% increase compared with the same period in 2025. According to preliminary data from the U.S. Energy Information Administration (EIA), Venezuela exported an estimated 117 million barrels of crude oil to the […]
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