Vitol Archives - The Daily Journal

Venezuela’s oil exports fall 9% as freight costs rise

October 2, 2026October 2, 2026Tatiana Da GamaLeave a Comment

Exports fell to 1.08 million barrels per day in September The Daily Journal.- Venezuela’s oil exports fell nearly 9% in September to 1.08 million barrels per day, down from 1.19 million barrels per day the previous month. According to Reuters, rising maritime freight costs and traders’ demands for steeper discounts weighed on the country’s shipments. […]

Vitol and Trafigura push for discounts on Venezuelan crude oil

September 23, 2026September 23, 2026Tatiana Da GamaLeave a Comment

The Daily Journal.- Major international oil trading companies Vitol and Trafigura are pushing for steeper discounts on Venezuelan crude oil as rising freight rates erode both companies’ profit margins. According to sources consulted by Reuters, the companies are seeking more favorable prices per barrel after maritime transportation costs surged in recent weeks. Higher shipping costs […]

Refineries overtake traders in Venezuelan oil purchases, Reuters reports

July 23, 2026July 23, 2026Tatiana Da GamaLeave a Comment

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 […]

Vitol prepares expansion with a new office in Caracas, Reuters reports

July 9, 2026July 9, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — Vitol, one of the world’s largest commodity trading companies, has begun preliminary preparations to open an operational office in Venezuela, according to an exclusive report by Reuters. Three sources with direct knowledge of the matter told Reuters that the move comes as “global trading houses expand their role in crude exports […]

Delcy Rodríguez signs new oil regulations to speed up investment in Venezuela

July 9, 2026July 9, 2026Tatiana Da GamaLeave a Comment

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 […]

Delcy Rodríguez receives the Trafigura Chief Executive Officer

June 13, 2026June 13, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — Venezuela’s Acting President, Delcy Rodríguez, held a high-level meeting at Miraflores Palace with a delegation from the multinational corporation Trafigura, led by its Chief Executive Officer, Richard Holtum. According to official information, the meeting brought together Hydrocarbons Minister Paula Henao, Economy and Finance Minister Anabel Pereira Fernández, and PDVSA President Héctor […]