Venezuela Archives - Page 2 of 20

Russia says US restrictions on its role in Venezuela’s oil business are discrimination

February 11, 2026

(Investing) – MOSCOW – Foreign Minister Sergei Lavrov said on Wednesday that new U.S. restrictions on the role of Russia and other countries in Venezuela’s oil business were blatant discrimination and the Kremlin said it would clarify the matter with Washington. The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas

Trump allows U.S. firms to provide services for Venezuela’s oil

February 11, 2026

(Oil Price) – The Trump Administration has further eased the sanctions on Venezuela’s oil industry by allowing U.S. firms to provide services and technology for hydrocarbon exploration and production in the South American country. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) noted in a new general license that U.S. entities or persons are now authorized to provide “goods, technology, software, or

U.S. moves to reopen Venezuelan oil production with new general license

February 3, 2026

(World Oil) – The U.S. government is preparing to issue a general license allowing companies to pump oil in Venezuela, part of the Trump administration’s plan to ease sanctions and rebuild the nation’s moribund energy industry. The new license could be issued by the Treasury Department as soon as this week, according to people familiar with the measure who asked not

Venezuela’s oil exports bounce to 800,000 bpd in January under US control -shipping data

February 2, 2026

(BOE Report) – Venezuela’s oil exports bounced to some 800,000 barrels per day (bpd) in January under U.S. control, from 498,000 bpd in December, following the capture of President Nicolas Maduro and the end of an oil blockade on the country, which has allowed traders to carry most exports, shipping data showed. Washington in December imposed an oil embargo on

Chevron beats profit estimates as it commits to Venezuela

January 30, 2026

(Oil Price) – Chevron Corporation (NYSE: CVX) reported on Friday consensus-beating earnings for the fourth quarter as it pledged to boost presence in Venezuela, where it is currently the only U.S. company authorized to operate. Chevron reported today adjusted earnings of $3.0 billion, or $1.52 per share, for the fourth quarter of 2025. While the profit was lower compared to the same period

Shell and BP Seek U.S. licenses for shared Venezuela-Trinidad gas fields

January 28, 2026

(Oil Price) – UK-based supermajors Shell and BP are seeking U.S. licenses to develop gas fields that Trinidad and Tobago shares with Venezuela, the Caribbean island’s Energy Minister Roodal Moonilal said on Wednesday. BP and Shell have sought to develop two separate cross-border gas fields in Venezuelan and Trinidad and Tobago waters, but progress has been slow in recent years due to the

How much does Venezuela owe China, and why is oil involved?

January 23, 2026

(BOE Report) – The U.S. takeover of Venezuela’s oil exports has re-routed crude barrels that were being used to service debt owed to China. How much does Venezuela owe China, and how and why was the country getting debt payments after Venezuela’s default? HOW MUCH DOES VENEZUELA OWE CHINA? Data on Venezuela’s debt is sketchy, particularly since 2017 when U.S.

Venezuela’s Rodriguez proposes oil reform to facilitate investment

January 16, 2026

(BOE Report) – Venezuela’s interim President Delcy Rodriguez said on Thursday that she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry. Rodriguez said the reforms would “allow these investment flows to be incorporated into new fields, fields where no investment has ever

Venezuela marks the opening move in a LatAm geoeconomic reset: Vladimirov

January 15, 2026

(BOE Report) – The ousting of Nicolas Maduro in Venezuela may mark the beginning of a broader U.S. attempt to realign Latin America geoeconomically, limiting the ability of Russia and China to use the Western Hemisphere as a pressure point in global commodity markets. Central America could become the next domino to fall. The region is an attractive route for facilitating both

China’s imports of Venezuelan oil set to crumble

January 14, 2026

(Oil Price) – China is expected to see a plunge in imports of oil from Venezuela in February as the now month-long U.S. blockade has prevented many China-bound cargoes from leaving Venezuelan waters. The deliveries of crude and fuel oil from Venezuela to China in February are estimated at just 166,000 barrels per day, as just 5 million barrels of Venezuelan

Venezuela begins reversing oil output cuts as exports resume, sources say

January 13, 2026

(BOE Report) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, with only U.S. Chevron exporting crude from

Trump suggests Exxon may be sidelined in Venezuela oil revival

January 12, 2026

(World Oil) – President Donald Trump signaled he’s leaning toward excluding ExxonMobil from his push for U.S. oil majors to rebuild Venezuela’s petroleum industry, saying he was displeased with the company’s response to his initiative. “I’d probably be inclined to keep Exxon out,” Trump told reporters late Sunday aboard the presidential plane on the way back to Washington from his

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