Tag: PDVSA

• Thursday, July 28th 2011 - 11:32 UTC

  Venezuela remains committed to compensate oil companies, says minister

  

  Venezuela said it remains committed to compensating Exxon-Mobil and Conoco-Phillips for nationalized oil assets, as long as the amount is reasonable and either settle by mutual agreement or set by the World Bank’s arbitration panel.

• Friday, May 27th 2011 - 08:58 UTC

  Chavez sacks half of PDVSA board following a 500 million USD fraud

  

  Venezuela’s government giant oil corporation sacked half its board of directors Thursday after PDVSA ’s pension fund lost about 500 million US dollars in a Ponzi scheme linked to a Connecticut-based investor.

• Tuesday, May 24th 2011 - 18:46 UTC

  US imposes sanctions on Venezuela’s PDVSA for engaging in trade with Iran

  

  United States announced new sanctions on Venezuela's state oil company PDVSA and six other smaller oil and shipping companies for engaging in trade with Iran in violation of a US ban.

• Friday, May 13th 2011 - 05:15 UTC

  Power outage knocks out Venezuelan refinery complex, one of the world’s largest

  

  A power fault hit Venezuela's main refinery centre on Thursday, stopping the 310,000 barrel-per-day Cardon facility and partially halting the 645,000-bpd Amuay installation, a source at state oil company PDVSA said.

• Thursday, March 17th 2011 - 18:04 UTC

  China will finance and build 20.000 housing units in Venezuela

  

  Venezuela signed an agreement with Chinese companies Citic Group and Industrial & Commercial Bank of China Ltd. to negotiate a 4 billion US dollars loan to finance oil and construction projects, President Hugo Chavez said in Caracas.

• Saturday, January 22nd 2011 - 07:02 UTC

  Oil Price in Venezuela at Two Year High

  

  Figures released by the Venezuelan Ministry of Energy and Petroleum said the average price of crude oil sold by Petroleras de Venezuela (PDVSA) rose this week to U$ 86.79 up from U$ 85.987 last week.

• Friday, June 25th 2010 - 05:38 UTC

  Venezuela plans to nationalize a fleet of oil rigs from US corporation

  

  Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.