by Marianna Parraga (Reuters) - Venezuela’s main oil port of Jose is operating partially after a tanker collided with a dock at the weekend, curtailing state-run PDVSA’s ability to export upgraded crude and receive imported diluents, three sources with knowledge of the incident said on Tuesday. PDVSA has been struggling this year to deliver exports on time to most customers … [Read more...]
ConocoPhillips, Venezuela’s PDVSA Reach $2 Billion Settlement
By Marianna Parraga and Nivedita Bhattacharjee Aug 20 (Reuters) - U.S. producer ConocoPhillips and Venezuela's PDVSA have reached a payment agreement on a $2-billion arbitration award, the companies said, suspending a dispute that blocked the state-run firm from exporting oil from most of its key Caribbean facilities. Venezuela's crude production, a major source of revenue, … [Read more...]
Venezuela Dodges Oil Asset Seizures with Export Transfers at Sea
By Marianna Parraga and Mircely Guanipa HOUSTON/PUNTO FIJO, Aug 7 (Reuters) - Venezuela's state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But the OPEC member nation is still fulfilling less than 60 percent of its … [Read more...]
Venezuelan Oil Exports Sink Amid Seizures and Shipping Backlog
By Marianna Parraga HOUSTON, June 20 (Reuters) - Venezuelan PDVSA's oil exports fell 32 percent in the first half of June compared with May, according to internal trade reports from the state-run company, as deepening output declines and seizures of some Caribbean assets disrupted crude and fuel shipments. PDVSA exported 765,000 barrels per day (bpd) in the first two … [Read more...]
Venezuela’s PDVSA Takes First Step to Ease Huge Oil Export Backlog
By Marianna Parraga and Mircely Guanipa HOUSTON/PUNTO FIJO, Venezuela, June 7 (Reuters) - Venezuela has begun testing seaborne oil transfers to ease a severe backlog of crude deliveries from its main terminals, according to sources and data, as chronic delays and production declines could temporarily halt state-run PDVSA's supply contracts if they are not … [Read more...]