News: Oil and Gas

Eighth Annual Citgo-Venezuela Heating Oil Program Launched

ewan — Mon, 04 Feb 2013 14:09:20 +0000

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.

Eight New Accords Tighten Venezuelan, Russian Relationship

ewan — Mon, 01 Oct 2012 16:35:40 +0000

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

People and Government Show Solidarity as They Repair Amuay Explosion Damage

Rachael — Thu, 30 Aug 2012 00:07:12 +0000

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.

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

ewan — Tue, 28 Aug 2012 01:58:00 +0000

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.

Venezuela Boosts Oil Sales to China

tamara — Wed, 15 Aug 2012 23:09:44 +0000

Venezuela has increased oil sales to China to 640,000 barrels a day, the Venezuelan energy minister said.

Venezuelan Opposition: “No More Preferential Oil Deals”

ewan — Fri, 03 Aug 2012 01:03:04 +0000

In his first public statement on his prospective oil policy were he to be elected, opposition candidate Capriles Radonski said that he would put an end to Venezuela’s current preferential oil deals with governments abroad, in favour of spending the revenue from the country’s petroleum industry on domestic “social programs”.

Venezuela, Argentina Build South American Energy Integration

ewan — Fri, 27 Jul 2012 21:40:32 +0000

Venezuela President Hugo Chavez met with Argentine Planning Minister Julio De Vido last Monday in Caracas for discussions that saw the head of the Caribbean nation invite his South American allies to join in the oil exploitation of the largest crude reserves in the world.

Venezuelan Government Commits to Anti-Fuel Smuggling Strategy

tamara — Fri, 20 Jul 2012 22:16:12 +0000

The Venezuelan government has reiterated its commitment to implement the electronic tagging of cars to combat contraband in fuel sales, despite an opposition campaign against the initiative.

Venezuela World’s Largest Holder of Proven Oil Reserves

tamara — Tue, 19 Jun 2012 14:05:52 +0000

Venezuela surpassed Saudi Arabia to become the world’s largest holder of proven oil reserves, the BP "Statistical Review of World Energy 2012" said.

Venezuela’s PDVSA Reaches Compensation Agreement over Nationalised Gas Installations

greg — Tue, 27 Mar 2012 01:29:18 +0000

Venezuela’s state gas enterprise PDVSA Gas reached a compensation agreement with companies Wilpro El Furrial and Wilpro Pigap II over the nationalisation of their gas compression and injection plants.

Venezuelan Government: Oil Spill under Control

greg — Mon, 20 Feb 2012 05:45:54 +0000

Venezuelan Environmental Minister Alejandro Hitcher has confirmed that the government has managed to contain over 90% of the leaked crude oil which escaped into the Guarapiche River when a pipeline ruptured on the 4th of February.

Venezuela’s Chavez Returns to Alo Presidente, Will Not Accept World Bank Verdict on Exxon

tamara — Tue, 10 Jan 2012 14:39:24 +0000

Venezuelan President Hugo Chavez returned to his weekly talk show programme last night, after his cancer diagnosis in June last year caused it to be cancelled for over seven months. On the show Chavez argued that the claim brought by Exxon against Venezuela's PDVSA was "about imperialism".

In its Seventh Year, CITGO-Venezuela Heating Oil Program Helps 400,000 US Citizens

tamara — Thu, 29 Dec 2011 15:17:52 +0000

CITGO President and CEO Alejandro Granado and Citizens Energy Chairman Joseph P. Kennedy II launched the seventh consecutive year of the CITGO-Venezuela Heating Oil Program today in New Jersey.

Venezuela Increasing Influence in Region Through Petrocaribe

tamara — Tue, 13 Dec 2011 15:15:26 +0000

Venezuela's position as OPEC's biggest producer in Latin America has allowed the administration of Hugo Chavez to provide energy resources to Caribbean and Central American countries as the cornerstone of its regional geopolitics and diplomacy policies that aim at strengthening ties with its allies.

World Bank Tribunal Dismisses Brandes Case Against Venezuela

juan — Thu, 04 Aug 2011 13:25:38 +0000

An international arbitration panel dismissed a claim by Brandes Investment Partners against Venezuela seeking damages for the forced sale of its stock in the nationalization of the country’s phone company, state-oil company Petroleos de Venezuela SA said today in a statement.

OPEC: Venezuela has World’s Largest Oil Reserves

juan — Fri, 22 Jul 2011 14:59:21 +0000

OPEC’s proven crude oil reserves rose 12.1 percent in 2010 to 1.19 trillion barrels led by Venezuela, which has surpassed Saudi Arabia as the group’s largest reserves holder, OPEC said in its Annual Statistical Bulletin.

Venezuela and Others Resist Pressures to Increase Production at OPEC

tamara — Fri, 10 Jun 2011 23:58:53 +0000

Venezuela and five other oil-exporting nations made history this week after they broke consensus and their insistence on maintaining oil production at current levels prevented the twelve-nation Organization of Petroleum Exporting Countries (OPEC) from increasing oil production quotas for the coming period.

Thousands March in Venezuela against U.S. Sanctions

greg — Tue, 31 May 2011 13:07:37 +0000

Around ten thousand people marched in Caracas on Sunday to protest the sanctions by the U.S. on Venezuela’s state oil company Petroleos de Venezuela (PDVSA) for trading with Iran.

Venezuela Rejects US Sanctions, Evaluates Oil Supply to US

juan — Fri, 27 May 2011 15:51:43 +0000

Venezuela’s government strongly rejected the Obama administration’s attempt to sanction its state-owned oil industry, PDVSA, and interrupt its relations with other nations. Latin American nations and groups worldwide have expressed support for Venezuela’s deﬁant stance

ALBA Leads 'Collective Rejection' of U.S. Sanctions Against Venezuela

Rachael — Fri, 27 May 2011 00:24:57 +0000

On Wednesday the Latin American nations that make up the Bolivarian Alliance for the Peoples of the Americas (ALBA) joined regional voices in their “indignation and rejection” of the U.S. government’s decision to impose unilateral sanctions against Venezuela’s state-owned oil company, Petróleos de Venezuela (PDVSA).

Latin America and the Caribbean Move towards Energy Security

Rachael — Mon, 16 May 2011 06:31:31 +0000

One of the main issues analyzed during a meeting of the people responsible for the ‘energy area’ in the Countries of Latin America and Caribbean, was the construction of an institution in order to carry out proposals made within energy security, stated the Venezuelan Energy and Oil minister Rafael Ramirez.

Libyan Delegation in Venezuela to Find Peaceful Solution

juan — Fri, 29 Apr 2011 13:40:17 +0000

Venezuelan President Hugo Chavez announced Tuesday that a delegation from Libya arrived this week in Venezuela to evaluate peaceful solutions to the conﬂict the North African nation has been suffering for the past two months.

Venezuela Increases Windfall Tax as a Result of Rising Oil Prices

greg — Mon, 25 Apr 2011 12:39:33 +0000

This past Thursday Venezuela’s President Hugo Chávez declared that he would increase a windfall tax on petroleum companies in view of rising oil prices. Chávez announced on the television show La Hojilla that the measure was being taken in order to "adjust to the reality of oil prices on a global scale."

International Labor Organization Denies Venezuelan Business Association Request for Commission of Inquiry

tamara — Fri, 25 Mar 2011 20:32:43 +0000

The International Labor Organization (ILO) on Wednesday denied a request by Venezuela’s largest business association, Fedecamaras, to launch an ILO inquiry into supposed violations of rights in Venezuelan.

Latin American Nations Pledge for Peace in Libya

juan — Fri, 11 Mar 2011 21:13:59 +0000

Member states of the Latin American and Caribbean alliance, ALBA, pledged their support last Friday for a peace delegation to intercede in the insurrection currently playing out in the North African country of Libya.

PDVSA and ENI Sign Biggest Venezuela-Italy Energy Deal Ever

admin1 — Thu, 25 Nov 2010 01:20:01 +0000

With a total investment of US$17 billion, Venezuela’s state oil company, PDVSA, and the Italian energy company ENI created two new mixed enterprises on Monday to extract and refine oil from Venezuela’s Orinoco Oil Belt.

2011 Venezuela Budget Depends Less on Petroleum

juan — Sat, 23 Oct 2010 13:45:14 +0000

Hoping to increase social spending from last year’s 45%, legislators discussed the budget framework presented in the National Assembly Thursday, which includes an overall income and expenses of Bs 204.208 billion (US$ 47.5 billion), 28% higher than the 2010 budget of Bs 159 billion.

Venezuela Nationalizes Lubricant and Fertilizer Companies

greg — Tue, 12 Oct 2010 14:45:57 +0000

Venezuelan President Hugo Chavez announced the nationalization of the lubricant and chemical company Venoco and the fertilizer company Fertinitro on Sunday, after accusing the two firms of price speculation.

Venezuelan Oil Minister: $100 Fair Price for Oil Barrel

admin1 — Mon, 20 Sep 2010 18:53:17 +0000

Rafael Ramirez, the president of Venezuela’s state-run oil company, Petroleos de Venezuela (PDVSA), announced last week his belief that the price of oil should be at $100 dollars per barrel.

Venezuelan Private Gas Company Workers Demand Nationalization

admin1 — Fri, 10 Sep 2010 13:50:01 +0000

Private domestic gas company workers are demanding that their companies be nationalized and converted to worker and community control, alternative Venezuelan website Aporrea reported on Tuesday.