Saturday, August 15, 2020

National Assembly News

Chevron Cleared to Stay in Venezuela

© Jim Barber / Adobe Stock

The Trump administration said on Friday it has renewed Chevron Corp's license to drill for oil and gas in Venezuela despite sanctions, signaling it sees value in having the U.S. oil producer…

Trump Camp Split on Chevron's Venezuela License

U.S. Secretary of State Michael R. Pompeo (US State Department photo by Ron Przysucha/ Public Domain)

The Trump administration is split over whether to renew a license this week for energy company Chevron Corp's operations in Venezuela, with Secretary of State Mike Pompeo supporting a renewal and others opposing it…

CITGO Formally Cuts Ties with PDVSA

U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on the OPEC country, two people close…

Citgo's New Board Arrives, to Hold First Meeting

A board of directors appointed this month by Venezuela's opposition-controlled congress to run state-owned oil firm PDVSA's U.S. unit Citgo Petroleum on Thursday was arranging its first meeting at the company's headquarters…

Venezuela Court Move May Spook Non-Russian Oil Majors

The sight of Venezuela's National Assembly president tearing up a Supreme Court ruling and warning foreign firms against making deals with the leftist government will no doubt resonate in international boardrooms.

Former PDVSA Boss Denies $11 Bln Corruption Allegations

Former PDVSA President Rafael Ramirez denied as "irresponsible lies" a Venezuelan congressional investigation accusing the state oil company of corruption to the tune of $11 billion during his decade-long tenure.

Global Oil Slump Cost Angola $6 bln in 2015

The sharp drop in oil prices over the last year cost Angola about $6 billion in revenue, President Jose Eduardo dos Santos said on Monday, and will force the country to borrow more to make up for the shortfall.

Governments Seek Rules for Paris Climate Deal

Governments began work on Monday on a rule book to implement the 2015 Paris Agreement to limit global warming, with the United Nations urging stronger action after a string of record-smashing monthly temperatures.

China: Venezuela Crisis is Domestic Matter

An economic crisis in Venezuela is a domestic matter, a spokesman for China's Foreign Ministry said on Monday, when asked if the country planned to give aid to the Latin American nation. The OPEC country…

Resource-rich Venezuela Struggles to Keep Lights, Taps On

Residents of Venezuela's southern city of Puerto Ordaz enjoy pleasant views of the Orinoco and Caroni rivers and are a half hour's drive from one of the world's biggest hydroelectric dams.

Obama Concerned About Venezuela's Economy

U.S. President Barack Obama, in an interview that aired on Monday, voiced concern about the struggling Venezuelan economy and said he did not want to see the country fail despite the tense relations between Washington and Caracas.

Nigeria's State Oil Company Misses $16.1 bln Public Payment

Nigeria's state oil company failed to remit 3.2 trillion naira ($16.1 billion) to the public purse in 2014, the auditor-general said on Monday. Samuel Ukura, who presented his findings in a report to lawmakers at the national assembly…

Venezuela Opposition Rejects Maduro's 'Economic Emergency' Decree

Venezuelan President Nicolas Maduro Photo Wikipedia

Venezuela's opposition refused on Friday to approve President Nicolas Maduro's "economic emergency" decree in Congress, saying it offered no solutions for the OPEC member-nation's increasingly disastrous recession.

GTT Board Adds Two Directors


GTT announced that its Board of Directors met on October 14th and appointed two new members, Andrew Jamieson and, following the proposal of ENGIE, Benoît Mignard. They are succeeding respectively to Laurent Maurel and Olivier Jacquier…

Pirates and Hold-ups: Crime Strikes Venezuela's Oil Industry

When night falls over western Venezuela, armed gangs known as "pirates" sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells. In the country's Paraguana peninsula…

Crime Paralyzes Venezuela's oil industry

When night falls over western Venezuela, armed gangs known as "pirates" sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells. In the country's Paraguana peninsula…

Green Investment Bonds Need Rules to Boost Appeal

Guidelines have to become standardised; Green bonds offer way to fund capital intensive projects. Engie, the utility formerly known as GDF Suez, this month launched the biggest green bond to…

French Lawmakers Fail to Reach Deal on Energy Bill

France's two houses of parliament failed to reach a compromise on a flagship energy bill on Tuesday, delaying the final adoption of a text the government wants to use to cap nuclear production.

Angola Plans to Cut 2015 Budget Oil Price to $40/bbl

Angola's cabinet has asked parliament to revise down the oil price assumption in the 2015 budget to $40 per barrel from its earlier projection of $81 per barrel, due to tumbling crude prices, the finance ministry said.

Venezula President Pushes Currency, Fuel Reforms

Maduro makes bid to combat black market for dollars; says it's time to hike domestic gasoline prices. President Nicolas Maduro shook up complex currency controls on Wednesday and also prepared…