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News: Oil and Gas

Venezuelan Experts, Union Leaders Debate Increase in Gasoline Prices

The forum included presentations by each of the five speakers – two economists and three transportation sector representatives

In a public forum on Thursday organized by Caracas newspaper Últimas Noticias, experts and union leaders expressed tentative approval for an increase in Venezuela’s gasoline prices.

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Venezuelan President Maduro Proposes to Increase World’s Cheapest Gasoline Price

President Maduro made the proposal at the close of the governing United Socialist Party of Venezuela (PSUV)’s congress last Th

Venezuelan president Nicolas Maduro has proposed to create a consensus around the need to increase the price of gasoline in the South American OPEC nation.

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Venezuela Promises Reform amid Debate over Economic Direction

In a speech last week about the performance of state oil company PDVSA in 2013, Vice President for the Economy Rafael Ramirez (p

The Venezuelan government has confirmed that it is planning a series of macroeconomic reforms to confront ongoing problems, provoking diverse reactions over the country’s economic direction.

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Venezuela’s Economy Vice President Outlines Strategy for Stability

Venezuela’s Vice President for the Economy, Rafael Ramirez, outlined planned changes to the exchange rate system, oil exports

Venezuela’s Vice President for the Economy, Rafael Ramirez, has outlined planned changes to the exchange rate system, oil exports and gasoline subsidies as part of a strategy to achieve macroeconomic stability and overcome current economic problems.

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Major Airlines to Regulate Fares in Venezuela as Transport and Oil Costs Rise

Airline representatives in discussion in Venezuela. (@RMarcoTorres)

Yesterday Venezuelan Air and Maritime Transport Minister, Herbet Garcia Plaza, announced the government had reached an agreement with representatives of leading international airlines to regulate the cost of air travel to and from the country.

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El Salvador Enters Venezuela’s Petrocaribe Oil Alliance

A previous Petrocaribe Ministerial Council Meeting. (AVN)

El Salvador was confirmed this morning as an official member of Petrocaribe, an alliance forged by late Venezuelan leader Hugo Chavez with many Caribbean states to promote economic and social integration by trading oil at preferential prices.

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Paramedic Injured by Violent Groups, Petrol Services Suspended in One Venezuelan Region after Attacks

Wilbany Leon (centre, red jacket), with transport minister Haiman El Troudi (centre, glasses) (Noticias 24)

A motorbike paramedic “almost died” on Monday as a result of nylon placed at the exit to a tunnel in Caracas, while an attack on a PDVSA oil tanker in Carabobo has seen the company cancel its services in the area.

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Venezuelan Vice President Calls for National Debate on Gasoline Prices

“For those who want homeland, come with me. But on foot, because we have to save gasoline” (Agencies).

The world's lowest petrol prices could be raised for the first time in 16 years, after the Venezuelan government called for a national debate on the country's gasoline subsidies.

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Venezuelan Report: Refinery Disaster Caused by Intentional Manipulation of Gas Pump Bolts

Petroleum and mining minister Rafael Ramirez presenting the report of the investigation into the Amuay tragedy (AVN)

Following government allegations a fortnight ago that last year’s Amuay refinery disaster was caused by sabotage, authorities have now released a full report with details of the year-long investigation.

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Venezuela to Appeal World Bank Ruling on ConocoPhillips Compensation Claim

Venezuela has the largest proven oil reserves in the world, according to the government. The Orinoco belt alone could contain as

 Venezuela's oil and mining minister and head of the country's state oil company, Rafael Ramirez, has stated the government will appeal a World Bank ruling against the 2007 expropriation of oil assets of ConocoPhillips.

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Eighth PetroCaribe Summit Focuses on Economic Integration between Venezuela and Caribbean

In order to "strengthen, streamline and consolidate" the organization, the development will focus in particular on tra

At the eighth summit of the Latin-American organization PetroCaribe held yesterday in Managua, Nicaragua, representatives from 21 countries agreed to further the creation of a special economic zone to foster the region’s development.

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Eighth Annual Citgo-Venezuela Heating Oil Program Launched

The program was launched at the Night of Peace Family Shelter in Baltimore (CITGO)

It is estimated that this year the program will help more than 100,000 families in 25 states plus the District of Columbia, including members of more than 240 Native American communities and more than 200 homeless shelters.

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Eight New Accords Tighten Venezuelan, Russian Relationship

The meeting between the Venezuelan and Russian delegations was held in the Miraflores presidential palace (noticiaaldia.com)

A total eight accords signed Thursday further strengthened the relationship between Venezuela and Russia in energy cooperation.

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People and Government Show Solidarity as They Repair Amuay Explosion Damage

Volunteers and PDVSA workers help repair a damaged roof near the Amuay refinery (YVKE Mundial)

Once fires were completely extinguished yesterday, national government institutions began investigating the cause of the recent explosion in Venezuela’s largest refinery. The government has designated large amounts of compensation to victims’ families, and together with community members is helping to repair damaged housing.

 

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41 Killed in Gas Explosion in Venezuela, 3 Days of National Mourning Declared

Press images showed the extent of the damage at the Amuay refinery (6topoder)

The Venezuelan government has confirmed that 41 people have been killed in a gas explosion at the country's biggest oil refinery in Amuay, located in the western state of Falcón. An immediate investigation has been launched into the causes of the accident.

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