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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CARACAS — Venezuela’s acting president, Delcy Rodríguez, said Saturday night that the energy agreement with the United States calls for the development of 17 strategic oil fields and aims to reach production of more than 1.5 million barrels per day over its 25-year term. In a statement shared on social media, Rodríguez provided new financial […]
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The Daily Journal – The U.S. Department of the Treasury, through the Office of Foreign Assets Control (OFAC), issued a package of eight amended general licenses related to Venezuela on August 27, 2026, along with updates to several frequently asked questions. The action seeks to redefine the scope of permitted operations for U.S. and foreign […]
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The Daily Journal. — Italian energy company ENI is negotiating new contracts with Venezuela and Petróleos de Venezuela (Pdvsa) to align its operations with the country’s new legal framework for the oil sector. At the same time, the company expects to accelerate development of the Junín 5 project in the Orinoco Oil Belt, Reuters reported. […]
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Reuters — Venezuela’s Ministry of Hydrocarbons has informed PDVSA’s partners that it intends to keep the July 28 deadline for migrating oil and gas contracts to the country’s new legal framework. The ministry has urged company executives to complete negotiations before that date, according to four sources. At the end of January, Venezuela’s National Assembly […]
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The Daily Journal — Major refineries and energy companies in the United States, Europe, and Asia are increasing their direct purchases of Venezuelan crude from Petróleos de Venezuela S.A. (PDVSA). According to a Reuters investigation, this strategy is beginning to reduce the role of the large trading houses that dominated the country’s oil exports during […]
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The Daily Journal — Venezuela’s acting president, Delcy Rodríguez, signed the Regulations to the Organic Hydrocarbons Law on Wednesday, completing the legal reform launched earlier this year. The new rules could clear the way for agreements that Petróleos de Venezuela S.A. (Pdvsa) reached in recent months with oil companies, commodity traders, and oilfield service providers […]
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The Daily Journal — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued General License No. 50B. This measure selectively authorizes six major global energy corporations and their subsidiaries to maintain and conduct oil and gas operations in Venezuela. OFAC Director Bradley T. Smith signed the regulatory instrument, which took […]
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Cardón IV Strengthens Its Position as Western Venezuela’s Energy Hub Audio: https://clyp.it/ng0wbxnh Julio A. López. — European energy companies Eni and Repsol are advancing a new plan to increase natural gas production in Venezuela, strengthening the development of the giant Perla field located in the Cardón IV block, in the waters of the Gulf of […]
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