Reuters: Chevron-Chartered Oil Tankers Return to Venezuela
At least three oil tankers chartered by Chevron were reportedly sailing toward Venezuela on Thursday, according to Reuters.
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Chevron and Valero Energy Resume Talks to Reactivate Venezuelan Crude Supply
The gradual return of Venezuelan crude to the U.S. market will also impact regional fuel prices. Photograph: Robert Way /…
ECLAC: Venezuela Improves Growth Forecast for 2025 Despite Regional Slowdown
In its Economic Survey of Latin America and the Caribbean 2025, ECLAC warns that the region is going through a phase of lower dynamism following the rebound seen at the beginning of 2024. Regional GDP growth will decline from 2.3% in 2024 to 2.2% this year, confirming a decade of low growth with an average expansion of just 1.2% between 2016 and 2025—even lower than that recorded in the 1980s.
Pharmaceutical Sector Grows 23.4% in First Half Amid Financial Constraints
“People Are Buying More, but Commercial Margins Continue to Be Sacrificed to Keep Operations Running,” Conindustria Recently Warned. Photograph: ConsultorSalud…
OPEC+ to Boost Output in September Despite Demand Uncertainty
The Organization of the Petroleum Exporting Countries and its allies (OPEC+), headed by Saudi Arabia and Russia, approved a new crude production increase of 547,000 barrels per day (bpd) this Sunday, effective September. With this move, the coalition finalizes the reversal of the voluntary cuts of 2.2 million barrels per day (mbd) implemented in 2023, completing the process in half the time initially planned.
Reuters: Venezuela’s oil exports fell by 10% in July, 95% went to China
Venezuela’s oil exports in July were 727,000 barrels per day, 10% lower than the to 807,000 bpd in June, according to LSEG shipping data published by Reuters.
Chevron to Resume Venezuelan Crude Exports in August in “Limited Quantities”
According to its CEO, the initial shipments will help settle part of the company’s outstanding debt and gradually restore production….
Bloomberg: Chevron to Pay the Venezuelan State With Crude Oil
U.S. energy corporation Chevron will pay the Venezuelan government in oil instead of bolivars or other currencies, according to sources consulted by Bloomberg.
Minister Jorge Márquez: Venezuela to Reactivate Electricity Supply to Colombia and Brazil
Venezuela’s Minister of Electric Energy, Jorge Márquez, announced on Wednesday that agreements have been established to reactivate electricity supply to Colombia and Brazil.
Repsol Maintains Its Commitment to Venezuela Despite Sanctions and Seeks Agreement with U.S. to Monetize Its Production
Repsol remains “hopeful of finding some kind of framework” to “monetize” its production in Venezuela amid ongoing discussions with the U.S. government under Donald Trump, as stated by the group’s CEO, Josu Jon Imaz, during the presentation of its first-half earnings.