A day earlier, Beijing demanded respect for its energy agreements with Venezuela The Daily Journal.- U.S. Energy Secretary Chris Wright said China will have no rights to collect revenue from Venezuela’s new oil production as efforts move forward to restructure the Caribbean country’s massive debt. In an interview with Bloomberg Television from Caracas, the U.S. […]
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The Daily Journal.— U.S. oil exploration company Aspect Holdings will develop several fields in eastern Venezuela over the coming years as part of a new exploration agreement with Petróleos de Venezuela (PDVSA), company President Alex Cranberg announced Wednesday. The parties signed the agreement “for a joint technical and economic feasibility study for the development of […]
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The Daily Journal.- Oil company GeoPark announced its strategic entry into Venezuela’s oil industry through the acquisition and development of the Bare block, located in the Orinoco Oil Belt, in a transaction that will make the Gilinski Group the company’s controlling shareholder. According to Bloomberg, the transaction includes a 25-year Production Participation Contract (CPP) with […]
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EFE.- Lawyers for ousted Venezuelan President Nicolás Maduro asked a U.S. court on Wednesday to dismiss the criminal case against him on sovereign immunity grounds, according to the digital court docket. Maduro’s attorney, Barry Pollack, filed two motions with the court: one seeking dismissal of the entire indictment based on sovereign immunity and another, should […]
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The Daily Journal.— The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued three new general licenses on Wednesday that expand authorized operations in Venezuela’s coal, gold and other mineral sectors, opening the door to trade, technology supplies and negotiations for future investments. The measures, identified as General Licenses 51D, 54C and […]
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The Daily Journal.— During U.S. Energy Secretary Chris Wright’s visit to Caracas, the Venezuelan government formalized new agreements for the hydrocarbons sector on Wednesday at a meeting with a Washington delegation at Miraflores Palace. The agreements include expanded participation by U.S.-based Chevron and Italy’s Eni in joint ventures operating in the Orinoco Oil Belt. Earlier […]
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The Daily Journal – U.S. President Donald Trump said Wednesday that Venezuela’s interim president, Delcy Rodríguez, “wants” the country to hold elections. However, he believes the South American nation is “not ready” for them yet. Speaking to reporters at the White House, Trump praised the Venezuelan leader and highlighted her performance at the helm of […]
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The Daily Journal – The official exchange rate broke the 800-bolivar-per-dollar barrier on Wednesday, September 2, reaching Bs. 801.18, according to the rate published by the Central Bank of Venezuela (BCV). The U.S. dollar rose by 2.86 bolivars (0.36%) in a single day after closing Tuesday, September 1, at 798.32 bolivars. The euro also climbed […]
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The Daily Journal – Coinbase co-founder Fred Ehrsam is negotiating to gain control of at least three oil fields in Venezuela, according to sources familiar with the talks. Alvorada Heavy Industries Ltda currently operates the fields — Boca, Guico and Guara, located in the Orinoco Belt — while U.S. authorities review the company’s contracts and […]
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The Daily Journal.— Chevron plans to invest more than $7 billion in Venezuela over the next five years and more than double its production in the country to approximately 600,000 barrels per day, following new agreements that improve the fiscal, commercial and legal terms governing its joint ventures. The expansion represents one of the largest […]
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