The IEA Warns That Without Steady Investment, Global Oil Production Would Fall by 8% Each Year
Without continuous investment in these fields, the world would lose the equivalent of the combined oil production of Brazil and…
Economy
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PDVSA Production Rose in August, According to OPEC
Venezuela’s oil production rose by at least 13,000 barrels per day (bpd) in August, according to the monthly report from the OPEC.
UNDP: Venezuela Grows in 2025, but Oil Rebound Clashes with Inflation and Sanctions
The Venezuelan economy shows a mixed performance in 2025: GDP grew by 7.7% in the first half of the year, driven by oil production, which reached its highest levels since 2019, and the government implemented increases in public sector income. However, inflation, the devaluation of the bolivar, and U.S. oil sanctions threaten to undermine these advances, according to a report by the United Nations Development Programme (UNDP).
Binational Trade Between Colombia and Venezuela Grows 14.1% and Surpasses US$560 Million in 2025
Trade between Colombia and Venezuela reached US$560.7 million in the first half of 2025, representing a 14.1% growth compared to the same period the previous year, according to figures from DANE and the Colombo-Venezuelan Chamber of Commerce (CCV). The report was presented during the Binational Business Meeting “Vision Frontera 2025,” held in Cúcuta to mark the third anniversary of the border reopening and the reestablishment of diplomatic relations.
Reuters: China Concord Strengthens Oil Presence in Venezuela with Floating Platform in Lake Maracaibo
The arrival of the floating platform Alula in Lake Maracaibo marks a new chapter in energy cooperation between China and Venezuela. The project, valued at $1 billion and led by China Concord Resources Corp (CCRC) in partnership with Petróleos de Venezuela (PDVSA), aims to revive production in the Lago Cinco and Lagunillas Lago fields, with a target of 60,000 barrels per day by 2026.
Reuters: Venezuela oil exports rise as exports to the U.S. resume
Venezuela’s exports rose to over 966,000 barrels per day (bpd) in August, a nine-month high, according to shipping data quoted by Reuters.
Venezuela Closes 557 Tourism Agreements Following International Business Roundtable
The promotion of Venezuela’s natural beauty, gastronomy, and cultural heritage was part of the event that brought together delegations and…
Reuters: First Chevron ship arrives in Venezuela to export crude oil to the U.S.
The Canopus Voyager, flagged in the Bahamas, has initiated the resumption of Venezuelan oil shipments to the United States under the current sanctions framework, with a limited load scheduled for August.
Venezuela Reports 1,084,000 bpd Produced in July: How Does It Maintain Output Despite Sanctions?
PDVSA sign on a water well drilling platform during FICTEC 2018, an International Science and Technology Fair. Photo: @Testing /…
Venezuela Extends State of Economic Emergency
The state of economic emergency began this April. Photo: Social media. Guacamaya, August 11, 2025. The Venezuelan government announced this…