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News: Oil and Gas

Venezuela Celebrates “Historic” OPEC Deal

Venezuelan Oil Minister Eulogia del Pino celebrates Wednesday’s agreement in Vienna (Euologio del Pino/Twitter).

Venezuela’s Oil Minister Euologio del Pino has branded an OPEC deal to cut production across member states as “another achievement” of the Bolivarian revolution. 

 

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Venezuela Strikes Oil Deals Worth US$1.45 Billion

enezuelan Oil Minister Eulogio del Pino (left) and businessman Oswaldo Cisneros (right) signing the agreements on Friday. (VTV)

Venezuela’s state oil company PDVSA signed the financing agreements with the Indian government’s Oil and Natural Gas Corporation (ONGC) and local company Delta Petroleum on Friday. 

 

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Dakota Pipeline Linked to 'Crushing Venezuela': Winona LaDuke

Winona LaDuke addresses a U.N. conference on discrimination against Indigenous populations in the Americas, Geneva, Switzerland,
The Native American activist said the economic war against Venezuela was a factor behind U.S. fracking and the Dakota pipeline.
 
 

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Venezuelan Parliament Passes New Oil and Mining Laws in First Discussion

Venezuela's National Assembly in downtown Caracas. (archive)

The proposed amendment would reopen Venezuela’s oil servicing sector to private capital, prohibit further expropriations, and mandate the state pay compensation within 180 days. 

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Venezuelan Supreme Court Admits Lawsuit against Mega-Mining Project

Venezuela’s Supreme Court agreed to hear a lawsuit filed against the Orinoco Mining Arc on Tuesday. (Archive)

Venezuela’s Supreme Court announced that it would hear a lawsuit filed by former high ranking cabinet members against a government plan to open 12 percent of the South American nation’s territory to open-pit mining.

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China Denies Allegations of Dialogue with Opposition

Deputy Director of Foreign Ministry Information Department Hua Chunying (South China Morning Post).

The Chinese government dismissed allegations that they met with the opposition after a Financial Times’ recent report stated otherwise.

 

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5 Plead Guilty in Bribery Scandal at Venezuela's PDVSA

PDVSA is a major source of revenue for the Venezuelan government, which is currently struggling with an economic downturn. (AVN)

At least five people in the United States have now pleaded guilty to charges linked to a bribery scandal centred around Venezuelan state oil firm PDVSA, according to reports Wednesday.

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Venezuela’s Maduro Announces String of Emergency Economic Measures

Venezuelan President Nicolas Maduro addressing the nation. (@PresidencialVen)

The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.

 

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Opposition’s Capriles Wants “Padlock” Law to Halt International Oil Treaties

Capriles proposes eliminating the government’s current international oil policy (Reuters).

Twice presidential candidate for the Venezuelan opposition Henrique Capriles Radonski has revealed that he has proposed a “padlock” law to the incoming opposition parliamentary bloc in the National Assembly. The legislation would prevent the government from negotiating further international oil treaties with other countries. 

 

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US Unable to Supply Caribbean if PetroCaribe Ends, Admits Success of Venezuelan Program

US Deputy National Security Advisor Ben Rhodes. (Kevin Lamarque/Reuters)

Washington warned Caribbean nations Wednesday that the United States would be unable to supply them with oil in the event that that Venezuela’s newly elected opposition-controlled parliament cuts off the flow of subsidized petroleum under the PetroCaribe program. 

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Venezuela’s Maduro: We will Review Relations with US after NSA Spying Revelations

Maduro says that he will conduct a revision of US-Venezuela relations in light of the revelations. (Panorama)

Venezuelan President Nicolas Maduro has announced that his government will review its diplomatic ties to the US, after a leaked document revealed that the National Security Agency had spied on officials at Venezuelan state oil company PDVSA.

 

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Venezuela’s Maduro Expands PetroCaribe Investments in Saint Vincent & Grenadines

Graphic art depicting the sunrise over the Caribbean, with the Bolivarian Alliance for the Peoples of Our America (ALBA) as the

In a diplomatic visit to Saint Vincent and the Grenadines on Monday, Venezuelan President Nicolas Maduro pledged new resources to the island nation and proposed a special economic zone in the Caribbean to strengthen regional trade.

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Venezuela Says Oil Glut a Political Strategy as OPEC Leaders Determine Next Step

(AP)

During a Tuesday live broadcast, Venezuelan President Nicolas Maduro announced that the country’s heavy crude oil was selling for a six-year low of $37.95 a barrel and claimed outside forces would try driving the price to $20 before the December 6th parliamentary elections.

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2016 Budget Unveiled as Venezuela Pushes for Price Ceiling at OPEC Meeting

(La Patilla/archive)

On Tuesday, Venezuelan officials outlined the 2016 budget, making emphasis on debt payment, while synchronous steps in oil diplomacy reveal an ongoing attempt to raise global prices. 

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Saudi Arabia and Venezuela Talk Oil Prices as Maduro Fixes to Lobby OPEC Abroad

Venezuelan Foreign Minister Delcy Rodriguez tweeted the above image of President Maduro and King Salman together in Saudi Arabia

Venezuelan Foreign Minister Delcy Rodriguez said Saturday evening that Saudi King Salman and President Nicolas Maduro had spoken on the phone and reached an understanding concerning oil cooperation. 

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