Tag: PDVSA

Monday, February 18th 2019 - 10:08 UTC
Russian bank freezes Venezuela's oil company accounts, fearing US sanctions

Russian lender Gazprombank has frozen the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, according to Reuters.
Friday, February 15th 2019 - 07:21 UTC
“Venezuela should honor its debts obligations”, Russia reminds Maduro

Venezuela should honour its debt obligations to Russia despite the political situation in Caracas, Russian Finance Minister Anton Siluanov said on Thursday. ”Russia hopes that Venezuela, even in case of a change of power in the country, will fulfil its obligations under the debt to Russia, Siluanov told reporters on the sidelines of the Russian Investment Forum in the Black Sea resort of Sochi.
Monday, February 11th 2019 - 08:40 UTC
PDVSA telling customers to deposit oil sales in an account of Russia's Gazprombank

Venezuela's state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia's Gazprombank AO, according to sources and an internal document, reported Reuters on Saturday.
Saturday, February 2nd 2019 - 08:58 UTC
Oil traders anticipate they will comply with US Treasury sanctions on Venezuela

U.S. sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to but slightly less extensive than those imposed on Iran last year, experts said on Friday after looking at details posted by the Treasury Department.
Wednesday, January 30th 2019 - 10:01 UTC
Guaidó plans to name new boards of directors at PDVSA and Citgo

The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.
Wednesday, January 30th 2019 - 09:46 UTC
Russia and China criticize US sanctions on Venezuela: “they undermine confidence in the international financial system”

Russia and China strongly criticized U.S. sanctions placed on Venezuela, with the former pledging to support the beleaguered President Nicolas Maduro. Russian Foreign Minister Sergei Lavrov said on Tuesday the sanctions completely undermined confidence in an international financial system that is dominated by the U.S., Russian news agency Interfax reported.
Tuesday, January 29th 2019 - 09:03 UTC
US tightening the noose: Venezuelan oil proceeds will be withheld from Maduro's government

The US has imposed sanctions on Venezuela's state-owned oil firm PDVSA and urged the country's military to accept a peaceful transfer of power. National Security Adviser John Bolton said President Nicolás Maduro and his allies could “no longer loot the assets of the Venezuelan people”. Efforts by the opposition to unseat Mr Maduro have increased in recent days.
Thursday, January 24th 2019 - 09:19 UTC
Venezuelan military brass remains loyal to Maduro and disavow Guaidó

Opposition leader Juan Guaido on Wednesday swore himself in as Venezuela’s rightful commander-in-chief in direct challenge to President Nicolas Maduro, who faces growing international criticism for undermining democracy.
Thursday, December 6th 2018 - 09:47 UTC
Venezuela importing 300.000 bpd of refined products to ease fuel shortage

Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents, reports Reuters.
Monday, November 26th 2018 - 07:32 UTC
Venezuela complies with court order and pays for Canadian company nationalized assets

Cash-strapped Venezuela settled a US$1.2 billion arbitration claim that will prevent a creditor from stripping away its crown jewel foreign asset, the U.S.-based Citgo Petroleum Corp refining business, according to Canadian court documents.