PDVSA Company News
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Venezuela Dodges Oil Asset Seizures with Export Transfers At Sea
Tuesday, August 07, 2018 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.
Curacao Mulling 15 Firms To Replace Venezuela As Refinery Operator
Monday, July 23, 2018 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.
PDVSA's Oil Sales To US Bounced In June; Caribbean Stocks Drained
Monday, July 09, 2018 Venezuelan crude sales to the United States recovered in June from May.
Document: Curacao Refinery Seeks Temporary Operator To Replace PDVSA
Friday, June 22, 2018 The 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, 2018 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.
Venezuela Appoints Bank Exec Medina As Oil Company CFO
Wednesday, June 13, 2018 The Venezuelan government has appointed a new chief financial officer for PDVSA.
Venezuela Struggles With Huge Oil Export Backlog
Thursday, June 07, 2018 Venezuela 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, 2018 There 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, 2018 Venezuela 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, 2018 Curacao, 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, 2018 PDVSA 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, 2018 ConocoPhillips 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, 2018 Venezuela says a $2.04 billion award to ConocoPhillips over a decade-old nationalization was a 'tough lesson.'
PDVSA Cancels Plans to Import US Crude Oil Amid Cash Crunch
Thursday, April 19, 2018 PDVSA was planning to buy 3.5 million barrels of West Texas Intermediate and Domestic Sweet Blend for its Isla refinery in Curacao.
Ex-Venezuelan Official Pleads Guilty in US Corruption Case
Thursday, April 19, 2018 A former Venezuelan official on Thursday pleaded guilty to taking part in a scheme involving bribes paid by U.S. companies to Venezuelan officials to secure energy contracts and speed up payments.
Under Military Rule, Venezuela Oil Workers Quit In A Stampede
Tuesday, April 17, 2018 Thousands of oil workers are fleeing the state-run oil firm under the watch of its new military commander.
PDVSA Refineries In Venezuela, Caribbean Ran At 31% Capacity In 1Q
Monday, April 16, 2018 Venezuela's oil refineries worked at 31% in the first quarter, according to an internal document from state-run firm PDVSA viewed by Reuters.
Citgo Petroleum Slows Aruba Refinery Revamp Due To US Sanctions
Wednesday, February 21, 2018 Citgo Petroleum has slowed work on an overhaul of its 235,000-barrel-per-day Aruba refinery.
Catalytic Cracker At PDVSA's Curacao Refinery Halted After Fire
Friday, February 16, 2018 A fire at the Isla oil refinery in Curacao run by PDVSA has been extinguished without impacting operations, sources say.
Algeria Sends More Oil To Cuba As Venezuelan Supplies Fall
Wednesday, January 10, 2018 Algeria sent 2.1 million barrels of crude oil to Cuba last year and will ship the same amount in 2018, an official at Sonatrach says.
Venezuela's PDVSA At Risk Of Losing Bonaire Terminal Over Maintenance Delay
Tuesday, December 19, 2017 PDVSA could lose its license to operate an oil storage terminal it owns on the Dutch Caribbean island of Bonaire if it does not soon fulfill maintenance demands by regulators, a government spokeswoman says.
Paralysis At PDVSA: Venezuela's Oil Purge Cripples Company
Friday, December 15, 2017 An alleged crackdown on graft in Venezuela has sown panic across the country's energy industry and all but paralyzed PDVSA.
Cuba Takes Over Venezuela Stake In Refinery Joint Venture
Thursday, December 14, 2017 Venezuela has pulled out of a partnership with Cuba in its Cienfuegos oil refinery and the Caribbean island has taken full ownership of the plant, Cuban state media says.
Union Leader: PDVSA's Amuay Refinery Halts Distillation Unit
Thursday, November 30, 2017 Amuay refinery has halted its distillation unit No. 5 due to an operational problem.
Venezuela's PDVSA To Tap Oil Customers To Pay $449MM To ONGC
Wednesday, November 15, 2017 PDVSA will use existing crude oil customers or new Indian state buyers as intermediaries to settle $449 million owed to India's ONGC Videsh.
Venezuelan Oil Output Heads to 29-Year Low as Cash Crunch Grows
Friday, November 10, 2017 Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most.
US Oil Service Firms Face Hit from Venezuela Debt Restructuring
Monday, November 06, 2017 The companies' services are critical for Venezuela.
Venezuela State Oil Company Says It Made Vital Bond Payment
Friday, October 27, 2017 Venezuela's state-run oil company said it transferred the funds to make an $842 million principal payment on its bonds due Friday.
Venezuelan, State Oil Firm Bonds Drop Over Payment Concerns
Thursday, October 26, 2017 Bonds issued by PDVSA drop sharply amid concerns on cash-flow problems and regulatory hurdles.
Venezuela's Deteriorating Oil Quality Riles Major Refiners
Friday, October 20, 2017 PDVSA is increasingly delivering poor quality crude oil to major refiners in the United States, India and China.
Venezuela Confirms Discussing Citgo Collateral Swap With Rosneft
Wednesday, October 04, 2017 PDVSA is negotiating to swap Russian oil producer Rosneft's collateral in Venezuelan-owned, Citgo, adding that results are expected 'very soon.'
Venezuelans Face Growing Queues To Buy Gasoline
Thursday, September 21, 2017 Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves.
Venezuela's Crude Supply To The United States Was Flat In August
Wednesday, September 13, 2017 Venezuelan crude sales to the US in August were largely unchanged at 638,935 bpd compared with the prior month, but continued to fall far short of year-earlier levels.
Venezuela Probing 'Spectacular' Overpricing In Orinoco Oil Contracts
Thursday, August 31, 2017 Venezuela's new chief prosecutor is investigating 'spectacular' overpricing in a dozen contracts in the nation's Orinoco oil belt.
Venezuela's Maduro Swaps Oil Minister And PDVSA President
Friday, August 25, 2017 Venezuelan President Nicolas Maduro names Oil Minister Nelson Martinez as the head of state oil company PDVSA.
PDVSA Negotiating Curacao Refinery Lease, Open to China Partner
Friday, August 25, 2017 PDVSA has operated the refinery for decades, but the cash-poor company has been reluctant to invest in it.
Venezuela's IOUs Pile Up, Keeping US Oil Servicers in Tow
Wednesday, August 23, 2017 For Schlumberger and Halliburton the road to payment for services in Venezuela is increasingly long and winding.
Venezuela's Oil Company Says 'Financial Blockade' Hurts Payments
Friday, August 18, 2017 A US-led 'financial blockade' has hurt PDVSA's capacity to collect payment for crude cargoes
No-Name US Oil Driller Gets Shot at World's Top Reserves
Wednesday, August 09, 2017 'It's very unorthodox to see a small player like Horizontal Well Drillers pop up on a project this size,' said Luke Lemoine, an energy analyst at Capital One Securities Inc.
Rosneft Says Lent Venezuela's State Oil Firm A Total Of $6B
Tuesday, August 08, 2017 Rosneft says it made around $6 billion in pre-payments to PDVSA and had no immediate plans to make any further advance payments soon.
Russian Oil Giant Lends Support to Venezuela Oil Company
Friday, August 04, 2017 Russia's largest oil company disclosed another advance payment to Venezuela's state producer after the US sanctioned President Nicolas Maduro on Monday.
PDVSA Asks Bondholders to Waive Financial Reporting Requirements
Thursday, August 03, 2017 PDVSA is asking bond investors for a temporary waiver from financial reporting requirements because it can't complete the documents on time.
Document: PDVSA's Refining Network To Work At 44% Of Capacity In Aug
Tuesday, August 01, 2017 PDVSA expects its refining network to work at 44% of capacity in August due to a lack of light crude and spare parts and planned maintenance work.
Court Orders PDVSA to Allow Sale of Oil at Sovcomflot's Request
Tuesday, July 18, 2017 The court action suggests even political allies of Venezuela such as Russia are losing patience with PDVSA's payment delays.
Venezuela's PDVSA Guarantees Investor Security Amid Uncertainty
Monday, July 10, 2017 PDVSA says in a statement it is guaranteeing "legal security" for all foreign companies in the leftist-run nation.
White House Is Said to Be Unlikely to Restrict Venezuelan Crude
Friday, July 07, 2017 U.S. officials have not made any decisions on what, if any, sanctions may be imposed on Venezuela.
Venezuela's PDVSA Says Cardon Refinery Cracker Working Normally
Wednesday, June 21, 2017 The catalytic cracking unit at Venezuela's 310,000-barrel-per-day (bpd) Cardon refinery is now working normally.
Venezuela Looks Abroad for Fuel as Domestic Production Wanes
Tuesday, June 20, 2017 Venezuela, home to the largest oil reserves in the world, is seeking to import 13 million barrels of fuel this year.
Venezuelan Refinery Reels As PDVSA Ships Light Oil To Cuba, Curacao
Tuesday, June 06, 2017 Venezuela's 187,000-barrel-per-day Puerto la Cruz refinery is running at 16 percent of capacity, mainly due to a lack of light oil.
Venezuela's Secret Plot to Sell Banned Syrian Oil in US Market
Thursday, May 25, 2017 The plan reportedly aimed to sell discounted Syrian oil to Venezuela through a Russian shell company, which would send it to Aruba for refining and distribution to US gas stations.