The Government of the United States announced this Tuesday, through OFAC, the authorization of some transactions of four US firms with the state oil company Petróleos de Venezuela (PDVSA), prohibited since November 2018, while maintaining restrictions on the production or commercialization of…
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pdvsa
Venezuela will receive 1,220,000 barrels of crude oil from Iran
Venezuela's dependence on Iranian crude continues to grow. In the coming days, tankers from Iran with a cargo of crude oil of some 1,220,000 barrels, in addition to another 2,000,000 of condensate, are expected to arrive on the Venezuelan…
Crypto scam to PDVSA retirees
The Venezuelan Scientific, Penal and Criminal Investigations Corps (CICPC in Spanish) announced the arrest of a group of criminals who operated within the state of Monagas and were dedicated to stealing cryptocurrencies from retired workers…
PDVSA revenues exceed 69 % between January and May 2022
Between January and May 2022, Petróleos de Venezuela (PDVSA) has obtained revenues of more than 6,100 million dollars, equivalent to more than 69 % of the financial resources that entered the Treasury of the state company during the same…
PDVSA works to privatize Paraguaná wind farm
The Ministry of Petroleum and Petroleum of Venezuela (PDVSA), together with the Ministry of Electric Energy, are making a great effort to privatize the wind turbines that were installed, more than 10 years ago, as part of a wind energy park…
Eni SpA and Repsol will send Venezuelan oil to Europe
The US government will allow Italian oil companies Eni SpA and Spanish Repsol SA to start shipping Venezuelan oil to Europe as a way to offset Russian crude starting next month.
The US State Department authorized the two companies to…
Iran and Venezuela sign agreement to recover El Palito refinery
The state company National Iran Oil Engineering and Construction Company (Naftiran) signed an agreement with the Venezuelan government for 110 million euros in order to recover and put into operation the El Palito refinery and be able to…
Venezuelan oil exports drop in April
Venezuela registered an average oil production of 420,000 barrels per day in April, some 410,000 barrels per day less than the goal established by PDVSA, which projected some 830,000 barrels per day of production for last month.
According…
Fragility of the oil industry limits its recovery
Asdrúbal Oliveros, economist and director of Ecoanalítica, stressed that the Venezuelan oil industry is experiencing "an unprecedented fragility and vulnerability in the country" that limits the recovery of the oil sector, despite…
Venezuela will produce a maximum of one million oil barrels per day
The economist and oil expert Rafael Quiroz pointed out that the most Venezuela could produce this year is one million barrels per day. In his opinion it is "impossible" for the country to produce 2,000,000 barrels of crude oil per day, as…
Venezuelan oil production increased 4 % in February
The Organization of Petroleum Exporting Countries (OPEC) reported in its monthly report that Venezuelan oil production increased by 4 % in February compared to January pumping, based on official figures.
The information highlights that the…
Venezuela aspires to increase its oil production by 2022
Venezuela plans to increase its oil production goals to 2 million barrels per day, as well as its derivatives, as part of the economic growth plan for 2022, as announced by the Oil Minister and Sector Vice President of Economy, Tareck El…