Tag: PDVSA

Friday, March 24th 2017 - 11:02 UTC
Maduro desperately selling assets to pay US$ 3.7bn in debts

In an effort to handle its overdue debts, Venezuela is all but giving away oil assets. President Nicolás Maduro is reportedly so desperate to pay the US$ 3.7 billion in debts that he is selling off the assets to Russia.
Friday, March 24th 2017 - 10:54 UTC
Venezuela paralyzed because of gasoline shortage: supplies rushed in from Houston

Although Venezuela has 18 refineries throughout the world and six on its own soil, on Thursday most states face a shortage of gasoline that has led to long lines at gas stations around the country. Venezuelans have spent hours in such lines, as they await a product that has been in short supply for several days in different cities across the country.
Monday, November 7th 2016 - 10:41 UTC
PDVSA, India reach agreement on joint oil production ventures

Venezuela's state-owned oil and natural gas company PDVSA and India have signed accords worth $1.45 billion whereby oil production is expected to increase from 430,000 barrels per day to 855,000 in less than a year. Exports in mind, there is a natiowide shortage of fuel.
Thursday, April 7th 2016 - 09:03 UTC
Venezuela becomes strong client of millions of barrels of US WTI crude

Venezuela's PDVSA will discharge in the coming days its first cargo of U.S. crude bought from British BP, who along with China Oil was awarded a tender to supply the state-run company with some 8 million barrels in the second quarter, traders close to the deal revealed on Wednesday.
Monday, February 1st 2016 - 06:22 UTC
Venezuelan lobbying for oil production reduction: tour begins Monday in Russia

Venezuelan Oil Minister Eulogio Del Pino will visit Russia, Qatar, Iran and Saudi Arabia on a tour of OPEC and non-OPEC countries intended to drum up support for action to stem the tumble in crude prices.
Friday, January 22nd 2016 - 05:12 UTC
Banks don't discard credit-short Venezuela will undergo a 'credit event' in 2016

Slumping crude prices have investors and analysts warning of a potential messy default in Venezuela, with state-owned oil company PDVSA owing some US$10 billion in external debt payments due this year. With crude hovering around US$28 per barrel, Venezuela could have trouble satisfying its obligations.
Monday, October 26th 2015 - 05:34 UTC
Argentina announced Malvinas basin huge gas prospect off Patagonia

Argentina' Energy company, Enarsa, in association with Venezuela's PDVSA, allegedly has detected very positive natural gas deposits off the Patagonia coast, which according to reports in the Buenos Aires press could be equivalent a third of the country's reserves.
Wednesday, October 21st 2015 - 06:35 UTC
Venezuela presents 2016 budget based on a US$40 per barrel estimate

Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.
Monday, April 20th 2015 - 23:59 UTC
China makes effective 5bn dollars loan to Venezuela for 'development plans'

China has awarded Venezuela 5 billion dollars for unspecified “development plans,” President Nicolas Maduro said on Sunday, approximately three months after an official visit to China. According to published reports, the loan is part of a 10 billion deal to be completed in the following months.
Friday, October 10th 2014 - 05:34 UTC
WB tribunal rules Venezuela must pay ExxonMobil 1.6bn dollars for 2007 nationalization

A World Bank arbitration tribunal has determined Venezuela must pay ExxonMobil Corp. around 1.6 billion dollars to compensate for a 2007 nationalization, the award posted on the ICSID website on Thursday showed.