PDVSA Company News
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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.'
PDVSA Cancels Plans to Import US Crude Oil Amid Cash Crunch
Thursday, April 19, 2018PDVSA 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, 2018A 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, 2018Thousands 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, 2018Venezuela'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, 2018Citgo 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, 2018A 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, 2018Algeria 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, 2017PDVSA 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, 2017An 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, 2017Venezuela 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, 2017Amuay 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, 2017PDVSA 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, 2017Venezuela 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, 2017The companies' services are critical for Venezuela.
Venezuela State Oil Company Says It Made Vital Bond Payment
Friday, October 27, 2017Venezuela'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, 2017Bonds 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, 2017PDVSA 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, 2017PDVSA 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, 2017Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves.