The Italian oil company Eni presented a report last week reflecting a debt of $3.3 billion owed by Venezuela’s state-owned PDVSA to the firm. This comes amidst negotiations between Venezuela and the United States regarding oil and the easing of sanctions in this sector.

Eni’s annual report, which includes data up to the end of 2025, also includes “approximately $1 billion in accrued interest.”

To put this information in context, it’s important to note that Eni and the Spanish company Repsol produce gas at their jointly owned Perla offshore field — the only active offshore gas project in Venezuela — whose production is purchased by PDVSA primarily for national electricity generation.

PDVSA has not made the corresponding payments for these gas volumes, accumulating a multimillion-dollar debt with Eni and Repsol, who were unable to receive in-kind payments from PDVSA due to the tightening of US sanctions.

Although the situation has improved since the beginning of this year, the debt persists. However, Eni has indicated that it is in talks with US authorities regarding its potential participation in the reactivation of the Venezuelan oil sector.

M.Pino

Source: eleconomista

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La entrada Venezuela’s debt to Italian oil company Eni reaches $3.3 billion apareció primero en Bitfinance.

The projections of the Central Reserve Bank of Peru regarding the country’s annual inflation rate place the figure at 2.4 %. This was indicated last week by the president of the regulatory body, Julio Velarde, adding that the gross domestic product is estimated at 3.2 % for 2026.

According to the BCRP official, who made the statements during the presentation of the March Inflation Report, indicating that “it will register a temporary spike in prices due to fuel rationing and the international impact of the conflict in Iran on oil.”

Velarde anticipates a significant impact from the increase in gas and fuel prices, as well as food prices, “given the high weighting of the food basket in the Peruvian price index.”

The rise in international oil prices directly impacts transportation costs, in addition to “key inputs for food production, such as grains and chicken.”

In this context, the president of the Central Reserve Bank of Peru (BCRP) “highlighted that Peru maintains the lowest inflation in the region and that the projection for 2027 is 2 %, within the target range.”

Regarding GDP growth, Velarde specified that, although it will be lower than last year’s, it will be above the previous projection, which in December stood at 3 %.

In conclusion, “the BCRP estimates GDP growth of 3.2 % in 2026 and 2027, accompanied by a rebound in private investment of 9.5 % in 2026 and 5 % in 2027.”

Finally, the official addressed the public debt, estimating that it will reach 29.3 % of GDP, with an increase in current spending.

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Source: finanzasdigital

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La entrada Central Bank of Peru projects 2.4 % inflation in 2026 apareció primero en Bitfinance.

The Middle East conflict has repercussions at both the regional and global levels. The increase in oil prices has spread to the gas and fuel sectors, prompting the European Union to prepare contingency measures to minimize the effects on consumers.

The EU is streamlining procedures for importing non-Russian gas amidst the escalating conflict in the Middle East, which has impacted supply. This has led to more flexible requirements, reduced red tape, and faster response times from authorities.

Currently, the United States, Africa, and Qatar are considered potential alternatives for importing liquefied natural gas.

There are specific initiatives in the region, such as in Italy, where Prime Minister Giorgia Meloni announced a reduction of €0.25 per liter of fuel to alleviate the effects of price increases caused by the war. The measure was approved by the Council of Ministers through a decree-law.

Spain, for its part, is reportedly evaluating similar options; that is, reducing taxes, offering incentives for consumption, “eliminating the CO₂ price, or returning to the ‘Iberian exception’ or a cap on gas prices,” according to European media.

Although the International Energy Agency has stated that member countries can release more oil onto the market, France does not share this view. Finance Minister Roland Lescure has indicated that the country cannot replace lost flows with existing reserves.

In any case, the consequences of the conflict in the Middle East and the closure of the Strait of Hormuz are being felt globally, with price increases in oil, gas, electricity, and fuels, forcing governments to scramble to find alternatives not only for supply but also to minimize the impact on the population.

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With information from international media

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La entrada Middle East conflict accelerates relief measures in the energy sector apareció primero en Bitfinance.

The Senior Vice President of the US oil company ExxonMobil, Jack Williams, indicated last week that the company is considering sending a technical team to Venezuela to study the conditions for a possible return to the country.

The executive stated that this decision “will depend on the investment environment and the establishment of solid and lasting legal guarantees that protect assets and invested capital.”

Exxon could send the team in the coming weeks, once the necessary logistical and security preparations for the visit are completed. In this regard, Williams stated that “the corporation is in talks with Venezuelan authorities while evaluating the conditions for a possible resumption of operations.”

The oil company’s position is cautious regarding new investments in Venezuela, and for this reason, it requires “solid and lasting legal protection mechanisms before committing capital again.”

The shift in relations between the United States and Venezuela is one of the factors that has encouraged the oil company to consider restarting activities in the South American country to contribute to its energy development and growth.

 

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Source: elnacional

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La entrada ExxonMobil considers return to Venezuela apareció primero en Bitfinance.

Last week, key meetings took place between U.S. Energy Secretary Chris Wright and Venezuelan Interim President Delcy Rodríguez, as well as PDVSA President Héctor Obregón Pérez and Venezuela’s diplomatic representative to the U.S. Félix Plasencia, to evaluate and define projects in the energy and oil sector

 They also discussed other sectors relevant to bilateral trade relations, such as natural gas, mining, and the national electricity system. The objective is to strengthen trade relations between the two countries and bolster the productive sector.

The working group, in which Obregón and Plasencia participated, “allowed for the definition of investment plans aimed at operational recovery and the utilization of hydrocarbons for regional energy security.”

For her part, Acting President Delcy Rodríguez noted that “the technical delegation accompanying U.S. Secretary of Energy Christopher Wright has held meetings with their Venezuelan counterparts to establish mechanisms for immediate implementation.”

In this regard, the technical coordination aims to establish pathways to “advance in strengthening the industry and unlocking the country’s energy potential.”

These actions include collaboration among specialists from both nations, reaffirming the commitment to maintain permanent channels of dialogue “to finalize the infrastructure and production projects discussed at Miraflores Palace” in Caracas.

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Source: ciip

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La entrada Venezuela and the United States strengthen a long-term productive partnership apareció primero en Bitfinance.

The Office of Foreign Assets Control (OFAC) issued a new license last week for the sale of US diluents to Venezuela, as part of the opening of crude oil exports from the South American country.

According to this license, the export and sale of US diluents to Venezuela is formally authorized, as they represent a key input for the production of exportable crude oil from the OPEC member country.

“The official document highlights that the authorization directly supports the current administration’s policy to revitalize Venezuela’s oil sector. Furthermore, the new regulations expressly authorize the processing of payments made by the Venezuelan government for these transactions, allowing the flow of financial resources between the two nations to be executed legally under the Treasury’s administrative framework.”

The new measure from the U.S. Treasury Department reinforces “the normalization of commercial activity and the logistical support necessary for the operation of the energy industry in the country.”

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Source: alnavio

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La entrada OFAC authorizes sale of US diluents to Venezuela apareció primero en Bitfinance.

A new license issued by the US Treasury Department’s Office of Foreign Assets Control (OFAC) has extended the auction of the Citgo refinery until March.

The document states that it “temporarily prevents creditors from invoking US courts to collect debts against the Citgo Petroleum Corporation.”

The license “authorizes holders of Petróleos de Venezuela S.A. (PDVSA) bonds maturing in 2020 to conduct transactions starting March 20 and keeps the auction blocked.”

This new extension delays the legal proceedings against the refinery, “while the Venezuelan state reaffirms that the U.S. justice system has acted against international law to favor the interests of political groups.”

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Source: ultimasnoticias

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La entrada The United States extends Citgo auction until March apareció primero en Bitfinance.

Last Thursday, January 22, the Venezuelan Parliament approved in its first reading the Draft Partial Reform of the Organic Hydrocarbons Law.

According to the country’s National Assembly, “the draft maintains the status of an organic law, but proposes relevant changes aimed at modernizing the oil model.”

Although the draft was approved, it must still undergo a public consultation phase. After that process, it moves to a second discussion, conducted article by article, before being approved and enacted before formally entering into force.

Parliament made it clear that the main objective of the reform is to “modernize the legal framework for the oil sector to adapt it to the new economic reality and changes in the international energy market,” focusing on creating conditions that will allow for “an accelerated increase in crude oil production.”

Furthermore, the sector seeks to incentivize foreign investment in strategic projects, as well as “incorporate more flexible business models, taking as a reference mechanisms linked to the Constitutional Anti-Blockade Law.”

The National Assembly made it clear that redefining the role of the State within the operational structure of the oil sector is fundamental.

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Source: hinterlaces

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La entrada Venezuela announces partial reform of the organic hydrocarbons law apareció primero en Bitfinance.

The discovery of a new oil field in the Bohai Sea, China, by the end of 2025, is the seventh since 2019 and further strengthens the country’s oil wealth, according to the China National Offshore Oil Corporation (CNOOC).

The new Qinhuangdao 29-6 field, the largest discovery since 2019, has estimated reserves of 100 million tons of oil and “has been developed using modern hydrocarbon migration and accumulation methods on the shallow Neogene slope.”

Daily production per well is estimated at around 370 tons of crude oil, demonstrating the field’s great potential for China.

This Chinese discovery adds to other energy sector finds achieved by other countries, such as Egypt and Kazakhstan.

M.Pino

Source: tvbrics

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La entrada China announces discovery of seventh oil field in the Bohai Sea apareció primero en Bitfinance.

Donald Trump, President of the United States, is advancing his plans to maximize commercial profits from Venezuelan oil, calling on international oil companies to return to the South American nation.

These companies, however, have requested guarantees to return to the Venezuelan oil industry, given the multimillion-dollar investment required in infrastructure and refining processes necessary for crude oil treatment.

One of the main demands of the international oil companies is political stability, stating that in the face of any risk, such as asset expropriation, the companies require guarantees from the United States.

Another demand, which goes hand in hand with US guarantees, is the fulfillment of Trump’s promises to “help them bring in equipment and personnel, export oil and gas, and generate revenue. Furthermore, they must have the assurance that this support will continue through future administrations and changes in Congress.”

They have also demanded improvements in tax conditions, financial mechanisms for paying outstanding debts, and access to talent in the face of the exodus of skilled personnel in recent years.

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Source: elperiodicodelaenergia

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La entrada International oil companies set demands to return to Venezuela apareció primero en Bitfinance.