Tag: PDVSA

• 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.

• Saturday, September 22nd 2018 - 06:54 UTC

  Mike Pompeo says US “preparing actions” to pressure the Maduro regime

  

  The United States is preparing a “series of actions” in the coming days to increase pressure on the Venezuelan government, U.S. Secretary of State Mike Pompeo told Fox News on Friday.

• Wednesday, September 19th 2018 - 08:11 UTC

  China agreed to invest US$ 5bn in Venezuelan oil, alleges Maduro

  

  Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.

• Friday, September 14th 2018 - 09:11 UTC

  A Judge in Andorra has charged 29 Venezuela chavista officials with corruption

  

  A judge in Andorra has charged 29 Venezuelans with corruption - among them two former deputy ministers. Prosecutors allege that they were part of a network of corrupt officials who received US$ 2.3bn in bribes from companies in return for lucrative contracts with Venezuela's state-run oil company, PDVSA.

• Monday, August 13th 2018 - 18:53 UTC

  Venezuela appealing US$ 1.4bn compensation ruling, threatening Citgo

  

  Venezuelan state oil company PDVSA is appealing a decision allowing Canadian miner Crystallex to take control of shares in U.S. subsidiary PDV Holdings as part of a 10 year dispute over the state takeover of Crystallex assets, a court filing shows.

• Thursday, August 9th 2018 - 08:40 UTC

  Venezuela oil exports avoid seizures with tankers' transfers at sea and operating from Cuba

  

  Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But Venezuela is still fulfilling less than 60% of its obligations under supply deals with customers.

• Tuesday, July 31st 2018 - 07:00 UTC

  Venezuela scarce gasoline will be sold only to the politically loyal

  

  Venezuela is taking steps to direct dwindling motor fuel to politically loyal vehicle owners. President Nicolas Maduro ordered a national census on 3-5 August to determine how many vehicle owners possess a homeland identity card, a document created in first quarter 2017 to strengthen the government's social and political surveillance capabilities.

• Saturday, July 14th 2018 - 07:48 UTC

  Venezuela’s oil crisis gets worse: Production keeps falling

  

  Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the month, pointing to a grim near-term future that could see total production dip below 1 million barrels per day (mb/d) by the end of the year.