US oil company ExxonMobil has returned a portion of the strategic Stabroek Block to the State of Guyana, fulfilling a contractual clause and avoiding areas affected by the territorial dispute with Venezuela. The measure, announced by Guyana’s Ministry of Natural Resources, comes after years of exploration along the Atlantic coast that have transformed Guyana’s economy.
A U.S. court official overseeing the auction of PDV Holdings, the parent company of Citgo Petroleum, has recommended the $7.38 billion bid.
Venezuela’s oil exports rose by 8% in June, reaching an average of 844,000 barrels per day (bpd), driven by a significant increase in shipments to China. The uptick helped offset the country’s loss of access to U.S. and European markets after Washington revoked key licenses.
Facade of the Casa Amarilla in Caracas, headquarters of the Venezuelan Ministry of Foreign Affairs. Photo: Xavier Granja Cedeño Guacamaya,…
At the 28th St. Petersburg International Economic Forum, Rosneft CEO Igor Sechin delivered a speech reshaping the global narrative on energy and power. Titled *“The Global Economy’s Odyssey for the Golden Fleece,”* his address proposed a strategic vision in which Russia, Iran, and Venezuela form an indispensable axis to ensure planetary energy security.
Chevron restructures its executive leadership with the appointment of Javier La Rosa as President of the BAEC (Base Assets and Emerging Countries) portfolio, a key division encompassing energy operations in critical regions and emerging markets. The company also reaffirms its commitment to social programs in Venezuela.
In his weekly program Con Maduro +, the Venezuelan president claimed that the country’s certified oil reserves have increased by 30%.
Francisco Rodríguez is a renowned Venezuelan economist, who today is a professor at the Josef Korbel School of International Studies at the University of Denver.
The increase would have an immediate and profound impact on Venezuelans’ wallets, directly affecting transportation and trade costs. Photo: Archive…
An alleged list of companies that signed “productive participation contracts” (CPPs) with PDVSA was recently leaked. There has also been talk of…
