PDVSA Company News

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Venezuela Aims to Nearly Triple Oil Output This Year
Thursday, July 22, 2021PDVSA has imported a key component needed to achieve its goal of almost tripling crude production, defying United States sanctions.

Oil Price Projections on the Rise
Sunday, July 18, 2021Look back at some of Rigzone's most popular downstream-related articles from last week.

Venezuela Oil Minister Sees USA Producers Rushing Back to His Country
Monday, June 21, 2021Venezeula's oil minister claims something magical is about to happen.

Biden Admin Extends Chevron Venezuela Sanctions Waiver
Tuesday, June 01, 2021The action also applies to service companies Halliburton, Baker Hughes, Schlumberger, and Weatherford.

Are Foreign Oil Firms About to Return to Venezuela?
Friday, March 19, 2021Maduro claims "Venezuela's doors are open for oil investment."

NOC Spending Plans Clash with Paris Accord Targets
Tuesday, February 09, 2021A US-based think-tank contends that billions in NOC projects will only be profitable if emissions targets are missed.

Caribbean Refinery Is Back in Business
Wednesday, February 03, 2021Limetree Bay Refining in St. Croix, U.S. Virgin Islands, has successfully resumed operations.

Chevron and Reliance Hold Venezuela Talks with State Department
Thursday, January 28, 2021Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela's oil industry.

Documents Show China Imports Embargoed Venezuelan Crude
Friday, January 22, 2021It may be the oil market's worst-kept secret.

Venezuela Oil Exports to China Surge
Tuesday, December 01, 2020Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.

Caribbean Refinery Restarts After Eight Years of Disuse
Tuesday, September 29, 2020A Caribbean refinery shut for most of this decade is coming back to life.

Fuel Flotilla Heads to Venezuela
Monday, September 28, 2020Following years of mismanagement and operational neglect, PDVSA is unable to supply the country with gasoline.

Former PDVSA Trader Charged in US Graft Crackdown
Thursday, September 24, 2020A former PDVSA trader was charged with receiving bribes as part of an expansive investigation into traders paying for access to South American oil markets.

Feds Indict Former Oil Trader in Ecuador Bribery Probe
Wednesday, September 23, 2020A former manager at the world's largest independent oil-trading firm, was indicted for allegedly bribing Ecuadorian government officials to get business for his firm with state-owned Petroecuador.

Iranian Tanker Loads Venezuelan Crude
Tuesday, September 22, 2020After defying US sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same ship to help the Latin American country export its crude.

Venezuela Turning Pipelines into Scrap Metal
Tuesday, September 15, 2020The Maduro regime is willing to cannibalize Venezuela's crumbling energy infrastructure to pay contractors with scrap metal.

Venezuela Imports Iranian Crude Despite US Sanctions
Monday, September 14, 2020An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid US sanction tripwires.

Oil Tanker Off Venezuela at Risk of Sinking
Thursday, September 03, 2020Venezuela reportedly is finding it difficult to secure a vessel on which to empty an oil tanker at risk of sinking off its coast because of U.S. sanctions.

Former Venezuela Oil Official Flees to US
Monday, August 31, 2020US prosecutors say that professional launderers worked for years to hide the movement of $1.2 billion stolen from PDVSA.

Maduro Shakes Up PDVSA, Declares Oil 'Emergency'
Thursday, February 20, 2020Venezuela's President Nicolas Maduro announced a commission to revamp PDVSA, redoubling efforts to shore up the nation's crumbling oil industry.

US Considering Sanctions on Rosneft
Thursday, February 06, 2020American officials are wary that the move could cause chaos in global oil markets.

Venezuela Importing Most Fuel Since US Sanctions Started
Friday, August 09, 2019Venezuela is importing fuel at a rate not seen since the U.S. imposed crippling sanctions on the country and cut off its main supply of foreign gasoline.

Venezuela Plans on Shutting Fields to Boost Oil Output
Monday, July 01, 2019Venezuela's state-owned oil company is taking an unusual step to try and increase production: shut fields.

Maduro Gets Oil Lifeline From Russia
Tuesday, March 05, 2019As PDVSA was running out of an obscure product needed to keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.

US Sanctions on Venezuela are Helping Colombian Oil
Wednesday, February 27, 2019U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports.

India Becomes Top Buyer of Venezuelan Oil
Monday, February 18, 2019Meanwhile, shipments to Venezuela's long-time ally China have slowed down.

Chevron Pledges to Work With US to Remain in Venezuela
Tuesday, February 12, 2019Chevron pledges to work closely with the US to remain in Venezuela despite a spiraling crisis.

Venezuela Production May Be Less than 700,000 bpd by 2020
Monday, February 11, 2019Rystad Energy forecasts Venezuela's crude oil production to fall below 700,000 barrels per day by 2020 if the country is not able to offset effects of US sanctions.

How Venezuela's Last Oil Buyers May React to Sanctions
Tuesday, January 29, 2019After the US slapped sanctions on PDVSA, the market has focused on how the remaining buyers of the South American country's heavy, low-quality crude will react.

Venezuela Sanctions Likely to Hit Some US Refiners
Thursday, January 24, 2019Refiners in Texas and Louisiana would be hard hit by sanctions on Venezuelan crude under consideration at the White House.

Venezuela Will Remap its Caribbean Oil, Gas Prospects
Wednesday, January 09, 2019Venezuela will remap its Caribbean oil and gas prospects.

Gasoline Shortages Grip Venezuela's Capital
Thursday, December 20, 2018Venezuela's capital was roiled by nagging gasoline shortages, snarling traffic and infuriating residents in the stricken country with another woe just before the holiday season.

Venezuelans Face Gasoline Shortages
Thursday, November 01, 2018Cars, motorcycles and buses wrapped around Caracas' gas stations earlier this week as oil production and refining becomes increasingly erratic.

Documents: Venezuela Resumes Domestic Crude Exports To Cuba
Thursday, September 13, 2018Venezuela resumed supplying a key domestic crude to political ally Cuba this summer as the South American country's refining output fell further, according to internal documents.

Documents: Venezuela's PDVSA To Reopen Damaged Port Dock By Month's End
Wednesday, September 12, 2018PDVSA expects to reopen the south dock of Venezuela's main oil port Jose by the end of September.

Venezuelan Crude Sales To US Fell In August On Port Interruptions
Tuesday, September 04, 2018Venezuela's crude sales to the United States fell in August for the second month in a row.

ConocoPhillips Settles With Venezuela's PDVSA To Recover $2B
Monday, August 20, 2018ConocoPhillips will recover about $2 billion under a settlement with PDVSA ending a long-running dispute.

Venezuela Dodges Oil Asset Seizures with Export Transfers At Sea
Tuesday, August 07, 2018Venezuela'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.

Curacao Mulling 15 Firms To Replace Venezuela As Refinery Operator
Monday, July 23, 2018Curacao's Isla refinery is considering offers from 15 companies interested in temporarily operating the 335,000-barrel-per-day facility to replace the current operator.

PDVSA's Oil Sales To US Bounced In June; Caribbean Stocks Drained
Monday, July 09, 2018Venezuelan crude sales to the United States recovered in June from May.

Document: Curacao Refinery Seeks Temporary Operator To Replace PDVSA
Friday, June 22, 2018The government-owned Isla refinery in Curacao is seeking a company to immediately replace Venezuela's state-run PDVSA as operator.

Curacao Refinery Runs Slow As PDVSA Port Backlog Starts To Ease
Monday, June 18, 2018The 335,000-barrel-per-day Isla refinery operated by PDVSA is working at minimum capacity while waiting for new shipments of Venezuelan crude, sources say.

Venezuela Appoints Bank Exec Medina As Oil Company CFO
Wednesday, June 13, 2018The Venezuelan government has appointed a new chief financial officer for PDVSA.

Venezuela Struggles With Huge Oil Export Backlog
Thursday, June 07, 2018Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals, according to shipping data.

US: Enough Global Oil To Avoid Caribbean Fuel Disruptions
Wednesday, May 16, 2018There is enough oil supply in the global market to make up for potential fuel disruptions, a State Department spokesman says.

Venezuela Suggests Ready To Pay After Conoco Moves On Its Caribbean Assets
Thursday, May 10, 2018Venezuela rejected ConocoPhillips's moves to seize the country's Caribbean assets to collect on a $2 billion arbitration award.

Curacao Sees 'Potential Crisis' from Venezuela-Conoco Row
Wednesday, May 09, 2018Curacao, a small island off the coast of Venezuela, is prepared to purchase refined products on the global market.

Complaint: Venezuela's PDVSA Sued For $25MM In US Over Non-Payment
Wednesday, May 09, 2018PDVSA is being sued in the US over non-payment of notes issued for work performed by Canadian energy contractor SNC-Lavalin.

Sources: Conoco Expected To Soon Temporarily Seize PDVSA Curacao Assets
Monday, May 07, 2018ConocoPhillips is expected to renew an effort to temporarily seize PDVSA oil inventories at the 335,000-barrel-per-day Isla refinery, sources say.

Venezuela Hails $2B Award As 'Tough Lesson' For Conoco
Thursday, April 26, 2018Venezuela says a $2.04 billion award to ConocoPhillips over a decade-old nationalization was a 'tough lesson.'