PDVSA Company News

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Venezuela Aims to Nearly Triple Oil Output This Year
PDVSA has imported a key component needed to achieve its goal of almost tripling crude production, defying United States sanctions.
8:00 PM EST | July 21, 2021
Oil Price Projections on the Rise
Look back at some of Rigzone's most popular downstream-related articles from last week.
8:00 PM EST | July 17, 2021
Venezuela Oil Minister Sees USA Producers Rushing Back to His Country
Venezeula's oil minister claims something magical is about to happen.
8:00 PM EST | June 20, 2021
Biden Admin Extends Chevron Venezuela Sanctions Waiver
The action also applies to service companies Halliburton, Baker Hughes, Schlumberger, and Weatherford.
8:00 PM EST | May 31, 2021
Are Foreign Oil Firms About to Return to Venezuela?
Maduro claims "Venezuela's doors are open for oil investment."
8:00 PM EST | March 18, 2021
NOC Spending Plans Clash with Paris Accord Targets
A US-based think-tank contends that billions in NOC projects will only be profitable if emissions targets are missed.
7:00 PM EST | February 08, 2021
Caribbean Refinery Is Back in Business
Limetree Bay Refining in St. Croix, U.S. Virgin Islands, has successfully resumed operations.
7:00 PM EST | February 02, 2021
Chevron and Reliance Hold Venezuela Talks with State Department
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela's oil industry.
7:00 PM EST | January 27, 2021
Documents Show China Imports Embargoed Venezuelan Crude
It may be the oil market's worst-kept secret.
7:00 PM EST | January 21, 2021
Venezuela Oil Exports to China Surge
Venezuela almost tripled its crude oil exports even as the US continues to tighten sanctions against companies seeking to do business with its ruling regime.
7:00 PM EST | November 30, 2020
Caribbean Refinery Restarts After Eight Years of Disuse
A Caribbean refinery shut for most of this decade is coming back to life.
8:00 PM EST | September 28, 2020
Fuel Flotilla Heads to Venezuela
Following years of mismanagement and operational neglect, PDVSA is unable to supply the country with gasoline.
8:00 PM EST | September 27, 2020
Former PDVSA Trader Charged in US Graft Crackdown
A former PDVSA trader was charged with receiving bribes as part of an expansive investigation into traders paying for access to South American oil markets.
8:00 PM EST | September 23, 2020
Feds Indict Former Oil Trader in Ecuador Bribery Probe
A 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.
8:00 PM EST | September 22, 2020
Iranian Tanker Loads Venezuelan Crude
After 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.
8:00 PM EST | September 21, 2020
Venezuela Turning Pipelines into Scrap Metal
The Maduro regime is willing to cannibalize Venezuela's crumbling energy infrastructure to pay contractors with scrap metal.
8:00 PM EST | September 14, 2020
Venezuela Imports Iranian Crude Despite US Sanctions
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid US sanction tripwires.
8:00 PM EST | September 13, 2020
Oil Tanker Off Venezuela at Risk of Sinking
Venezuela 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.
8:00 PM EST | September 02, 2020
Former Venezuela Oil Official Flees to US
US prosecutors say that professional launderers worked for years to hide the movement of $1.2 billion stolen from PDVSA.
8:00 PM EST | August 30, 2020
Maduro Shakes Up PDVSA, Declares Oil 'Emergency'
Venezuela's President Nicolas Maduro announced a commission to revamp PDVSA, redoubling efforts to shore up the nation's crumbling oil industry.
7:00 PM EST | February 19, 2020
US Considering Sanctions on Rosneft
American officials are wary that the move could cause chaos in global oil markets.
7:00 PM EST | February 05, 2020
Venezuela Importing Most Fuel Since US Sanctions Started
Venezuela 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.
8:00 PM EST | August 08, 2019
Venezuela Plans on Shutting Fields to Boost Oil Output
Venezuela's state-owned oil company is taking an unusual step to try and increase production: shut fields.
8:00 PM EST | June 30, 2019
Maduro Gets Oil Lifeline From Russia
As 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.
7:00 PM EST | March 04, 2019
US Sanctions on Venezuela are Helping Colombian Oil
U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports.
7:00 PM EST | February 26, 2019
India Becomes Top Buyer of Venezuelan Oil
Meanwhile, shipments to Venezuela's long-time ally China have slowed down.
7:00 PM EST | February 17, 2019
Chevron Pledges to Work With US to Remain in Venezuela
Chevron pledges to work closely with the US to remain in Venezuela despite a spiraling crisis.
7:00 PM EST | February 11, 2019
Venezuela Production May Be Less than 700,000 bpd by 2020
Rystad 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.
7:00 PM EST | February 10, 2019
How Venezuela's Last Oil Buyers May React to Sanctions
After 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.
7:00 PM EST | January 28, 2019
Venezuela Sanctions Likely to Hit Some US Refiners
Refiners in Texas and Louisiana would be hard hit by sanctions on Venezuelan crude under consideration at the White House.
7:00 PM EST | January 23, 2019
Venezuela Will Remap its Caribbean Oil, Gas Prospects
Venezuela will remap its Caribbean oil and gas prospects.
7:00 PM EST | January 08, 2019
Gasoline Shortages Grip Venezuela's Capital
Venezuela'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.
7:00 PM EST | December 19, 2018
Venezuelans Face Gasoline Shortages
Cars, motorcycles and buses wrapped around Caracas' gas stations earlier this week as oil production and refining becomes increasingly erratic.
8:00 PM EST | October 31, 2018
Documents: Venezuela Resumes Domestic Crude Exports To Cuba
Venezuela 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.
8:00 PM EST | September 12, 2018
Documents: Venezuela's PDVSA To Reopen Damaged Port Dock By Month's End
PDVSA expects to reopen the south dock of Venezuela's main oil port Jose by the end of September.
8:00 PM EST | September 11, 2018
Venezuelan Crude Sales To US Fell In August On Port Interruptions
Venezuela's crude sales to the United States fell in August for the second month in a row.
8:00 PM EST | September 03, 2018
ConocoPhillips Settles With Venezuela's PDVSA To Recover $2B
ConocoPhillips will recover about $2 billion under a settlement with PDVSA ending a long-running dispute.
8:00 PM EST | August 19, 2018
Venezuela Dodges Oil Asset Seizures with Export Transfers At Sea
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.
8:00 PM EST | August 06, 2018
Curacao Mulling 15 Firms To Replace Venezuela As Refinery Operator
Curacao'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.
8:00 PM EST | July 22, 2018
PDVSA's Oil Sales To US Bounced In June; Caribbean Stocks Drained
Venezuelan crude sales to the United States recovered in June from May.
8:00 PM EST | July 08, 2018
Document: Curacao Refinery Seeks Temporary Operator To Replace PDVSA
The government-owned Isla refinery in Curacao is seeking a company to immediately replace Venezuela's state-run PDVSA as operator.
8:00 PM EST | June 21, 2018
Curacao Refinery Runs Slow As PDVSA Port Backlog Starts To Ease
The 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.
8:00 PM EST | June 17, 2018
Venezuela Appoints Bank Exec Medina As Oil Company CFO
The Venezuelan government has appointed a new chief financial officer for PDVSA.
8:00 PM EST | June 12, 2018
Venezuela Struggles With Huge Oil Export Backlog
Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals, according to shipping data.
8:00 PM EST | June 06, 2018
US: Enough Global Oil To Avoid Caribbean Fuel Disruptions
There is enough oil supply in the global market to make up for potential fuel disruptions, a State Department spokesman says.
8:00 PM EST | May 15, 2018
Venezuela Suggests Ready To Pay After Conoco Moves On Its Caribbean Assets
Venezuela rejected ConocoPhillips's moves to seize the country's Caribbean assets to collect on a $2 billion arbitration award.
8:00 PM EST | May 09, 2018
Curacao Sees 'Potential Crisis' from Venezuela-Conoco Row
Curacao, a small island off the coast of Venezuela, is prepared to purchase refined products on the global market.
8:00 PM EST | May 08, 2018
Complaint: Venezuela's PDVSA Sued For $25MM In US Over Non-Payment
PDVSA is being sued in the US over non-payment of notes issued for work performed by Canadian energy contractor SNC-Lavalin.
8:00 PM EST | May 08, 2018
Sources: Conoco Expected To Soon Temporarily Seize PDVSA Curacao Assets
ConocoPhillips is expected to renew an effort to temporarily seize PDVSA oil inventories at the 335,000-barrel-per-day Isla refinery, sources say.
8:00 PM EST | May 06, 2018
Venezuela Hails $2B Award As 'Tough Lesson' For Conoco
Venezuela says a $2.04 billion award to ConocoPhillips over a decade-old nationalization was a 'tough lesson.'
8:00 PM EST | April 25, 2018