PDVSA Reaches $17.5b in Abroad Oil Sales in 2024
Venezuelan state-run PDVSA's oil sales abroad in 2024 stood at $17.52 billion, according to a results document seen by Reuters on Friday, as exports jumped due to U.S. licenses allowing foreign partners to operate in the sanctioned OPEC member.There are no comparative figures from previous years because PDVSA has not published its results since 2016, and it did not immediately respond to a request for comment.Venezuela has some of the world's largest reserves of oil…
Venezuelan Oil Exports Rise, More Cargoes Head to China
Venezuela exported some 844,000 barrels per day (bpd) of crude and fuel in June, an 8% increase from the previous month as the loss of the U.S. and European markets was offset by more cargoes sent to China, according to shipping data and documents.Washington in late May terminated a group of licenses that had authorized partners of oil company PDVSA, including Chevron and Repsol, to take Venezuelan crude bound for U.S.
Crude Spill Hits Environmentally-sensitive Area in Venezuela, Report
Crude oil spilling from one of state-run PDVSA's joint ventures has hit an environmentally sensitive area at Venezuela's eastern region, three sources close to the operations said on Tuesday.Oil spills and gas leaks have become frequent in recent years in Venezuela, where lack of investment and delayed maintenance have contributed to the deterioration of PDVSA's aging energy infrastructure.The leak came from an oil well at Platform G…
Third Iranian Fuel Cargo Approaches Venezuela
The third cargo of an Iranian tanker flotilla carrying fuel for gasoline-thirsty Venezuela on Tuesday reached the nation's exclusive economic zone as the previous two were discharging at state run PDVSA's ports, according to Refinitiv Eikon data.The Iran-flagged tanker Petunia crossed the Caribbean Sea earlier on Tuesday, following the route taken in recent days by vessels Fortune and Forest.The Fortune was welcomed on Monday at PDVSA's El Palito refinery by Venezuela's oil minister…
Iranian Tanker Docks in Venezuela
The first of five Iranian tankers carrying fuel to Venezuela has moored at a port serving the El Palito refinery, the oil minister said on Monday, and Refinitiv Eikon data showed a second vessel had entered its waters.Iran is providing Venezuela with 1.53 million barrels of gasoline and refining components in a move criticized by U.S. authorities as both countries are under U.S. sanctions, according to the governments…
Empty Tankers Depart Venezuela; Sanctions Cancel Cargo
Three large crude carriers (VLCCs) chartered by units of Russian oil major Rosneft to transport Venezuelan oil left Caribbean waters empty on Saturday after the cargoes were canceled due to sanctions, according to Refinitiv Eikon data and a document from Venezuelan state-run oil firm PDVSA.The vessels - which would jointly export some 5.7 million barrels of Venezuelan heavy crude to Asia - had waited for weeks near Venezuelan waters to load…
