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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The Daily Journal.- Venezuelan crude exports surged in August as U.S. President Donald Trump’s administration seeks to expand its control over the country’s oil sector. Oil tankers loaded an average of 1.114 million barrels per day of Venezuelan crude in August, a 28% increase from July, according to shipping reports, data from Kpler Ltd., and […]
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The Daily Journal.— U.S. President Donald Trump on Monday avoided taking a position on Venezuela’s potential withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), saying the decision rests with Caracas despite the new energy agreement that deepens oil cooperation between the two countries. “Well, I don’t know. That’s up to them,” Trump said […]
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The Daily Journal. — The White House said Monday that the oil agreement reached with Venezuela will allow the United States to secure its “energy dominance for the next century” at no cost to American taxpayers. “This deal secures our energy dominance for the next century, all at zero cost to the United States,” President […]
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The Daily Journal – The announcement of the oil agreement between Venezuela’s Acting President Delcy Rodríguez and U.S. President Donald Trump has sparked widespread debate among the country’s economists. Unlike the critical consensus among former oil ministers, economic experts have expressed a broader range of views, from deep fiscal skepticism to cautious optimism and open […]
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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 announcement of the oil agreement between Venezuela’s acting president, Delcy Rodríguez, and U.S. President Donald Trump has triggered a wave of criticism from figures who have held some of the highest positions in Venezuela’s energy sector. Former oil ministers and former PDVSA presidents from across the ideological spectrum have questioned […]
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The Daily Journal. — U.S. President Donald Trump said Sunday that his administration will soon use Venezuelan crude to replenish the country’s strategic energy reserves following the recent bilateral agreement that gives U.S. companies operational control over one-fifth of the South American country’s proven reserves. In a post on his Truth Social platform, Trump lashed […]
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The Daily Journal. — The U.S. Department of War plans to acquire a 35% non-controlling stake in a private company that holds rights to develop oil fields in Venezuela, a move that would mark an unusual expansion of the U.S. government’s direct involvement in an energy project in the country, The Wall Street Journal reported […]
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Carlos Mendoza Potellá said Venezuelan oil production will not recover quickly The Daily Journal.- Economist and oil industry expert Carlos Mendoza Potellá said Venezuela has approximately 17,000 abandoned oil wells that the country could reactivate; however, he warned that the process could take years. “We have 17,000 production-capable wells that we abandoned a long time […]
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