Conoco eyes PDVSA’s Caribbean assets
By Irina Slav – From Oilprice.com ConocoPhillips has received court attachments for freezing the assets of Venezuelan PDVSA at two Caribbean facilities and might go on to sell them, Reuters reports, citing sources close to the developments. The U.S. company…
PDVSA refineries in Venezuela, Caribbean ran at 31 pct capacity in Q1
From HP (Reuters) – Venezuela’s oil refineries worked at 31 percent of their combined 1.62 million-barrel-per-day capacity in the first quarter, well below 2017 levels, according to an internal document from state-run firm PDVSA viewed by Reuters. PDVSA’s refining operations…
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Venezuela’s oil industry staggers closer to collapse: A positive catalyst for oil
By Caiman Valore From Seeking Alpha Summary Venezuela’s debt default significantly increases the likelihood of further significant production declines for PDVSA. The dual impact of sanctions and declining export income could cause Venezuela’s oil industry to collapse. The loss of…
New ‘Paradise Papers’ data leak links Hatoyama to Bermuda firm and U.S. commerce chief to Putin biz benefits
From Japan Times A new leak of financial documents that follows the so-called Panama Papers has uncovered business ties between U.S. Commerce Secretary Wilbur Ross and Russia, as well as alleged tax evasion by an aide to Canadian Prime Minister…
San Antonio’s NuStar reportedly stops Venezuela’s oil company from using Caribbean terminal
By Rye Druzin From My San Antonio NuStar Energy, which operates storage terminals like this one in Corpus Christi, is stopping Venezuela’s state-owned oil company PDVSA from using its terminals, according to a Reuters report. Missed payments are forcing San…
Wall Street Gets Nervous About Venezuela’s ‘Hunger Bonds’
From Newsmax The Venezuelan debt that Goldman Sachs Group Inc. bought last month may be known as “hunger bonds” to many in the international community, but they’re earning a different moniker on Wall Street: repudiation bonds. In the days since…
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Why did Russia seize oil off a Venezuelan cargo ship in the Caribbean?
By Brian Ellsworth and Marianna Parraga Reuters From The Christian Science Monitor A Russian state-owned shipping conglomerate is holding $20 million worth of the country’s oil. APRIL 18, 2017 ST. EUSTATIUS AND HOUSTON—Venezuela’s state-run oil company, PDVSA, sent a tanker in…
With millions of barrels of oil stuck in Caribbean Sea, Venezuela shakes up oil giant
By DIVYANSH AWASTHI From Frontera Venezuela cleaning up corruption Just days after it was reported that more than 4 million barrels of Venezuelan crude and fuels were stuck at sea due to cash flow problems at state-run oil firm PDVSA…
China suitor tightens grip on century-old Caribbean refinery
From HydroCarbon Processing BEIJING/HOUSTON (Reuters) — China’s Guangdong Zhenrong Energy Co will submit a plan by April to revamp a century-old oil refinery in Curacao, as it seeks to secure a $5.5 billion project that will give China a foothold…
Venezuela’s PDVSA in crisis as Caribbean debts pile up
By Marianna Parraga Reuters From Buenos Aires Herald Partners in island nations turn away from state oil firm as unpaid bills mount up HOUSTON — Unpaid debts and broken promises are making Venezuelan oil giant PDVSA an outcast in several…
