Venezuela, China Expanding Crude Oil JV
A Venezuelan oil joint venture with a state-owned Chinese company has started an expansion project to boost output to 165,000 barrels per day (bpd), President Nicolas Maduro said on Thursday, from a current capacity of 110…
Venezuela's Deals to Shield Citgo from Creditors in Doubt
Venezuela is facing the possible unraveling of a pair of billion-dollar settlements aimed at protecting the cash-strapped country's U.S.-based Citgo Petroleum Corp from seizure by creditors.A lawyer for Canadian mining…
PDVSA Ex-exec Admits Taking Bribes
A former finance executive of Venezuelan state oil company PDVSA accepted $17 million in bribes as part of a broad embezzlement scheme, U.S. federal prosecutors said on Wednesday, in a case that implicates a French oil firm and a Russian bank.The former executive…
Venezuela Arrests Ex-oil Bosses
Venezuelan authorities on Thursday arrested two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening industry purge also seen as a power play by leftist President Nicolas Maduro.
Venezuela Bondholders Mull Alliances
Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro's proposal to restructure $60 billion of debt.
Venezuela Meets Creditors in Bid to Dodge Default
Venezuela opens talks with creditors on Monday to renegotiate a crippling debt that has left citizens sifting through garbage for food, as the once-prosperous OPEC nation seeks to avert a default that would plunge its economy into deeper crisis.
Venezuela, PDVSA Bonds Rise After Reported Payment
Bonds issued by Venezuela and state oil company PDVSA on Friday rose sharply following a report that settlement agent DTC has received funds to make a delayed payment of principal on PDVSA's 2017N bond that matured last week. Reporting by Brian Ellsworth
Vens Restructure Debt, But Default Looms
Venezuela on Thursday announced plans to restructure its burgeoning foreign debt, a move that may lead to a default by the cash-strapped OPEC nation whose collapsing socialist economy has left its population struggling to find food and medicine.
PDVSA Debt Payment to Test Vens Socialist Party
Venezuelan state oil company PDVSA faces a $1.2 billion bond payment on Thursday that will test the ruling Socialist Party's resolve to pay its foreign debt despite a crippling economic crisis that has spurred widespread…
Venezuela publishes Oil Prices in Chinese Currency for First Time
Venezuela on Friday published the price of its oil and fuel in Chinese currency for the first time, following President Nicolas Maduro's announcement that the government would ease off the U.S. dollar in response to sanctions by the United States.
Ecuador Gives Schlumberger $150 mln to Settle Part of Debt
Ecuador has given oil services company Schlumberger NV $150 million in central bank notes that can be used to pay taxes, President Rafael Correa said late on Monday, part of efforts to pay down a $1.1 billion debt with the company.
Sovcomflot Holds PDVSA Oil Hostage over Debts
Venezuela's state-run oil company, PDVSA, sent a tanker in October to the Caribbean with the expectation that its cargo of crude would fetch about $20 million - money the crisis-stricken nation desperately needs.
Venezuela Delays Crude Shipments amid Operational Mishaps, Low Output
Venezuelan state oil company PDVSA has delayed and canceled crude deliveries to commercial partners in recent months, according to documents seen by Reuters, a further sign of the steady production decline of the country's top export.
PDVSA Inks $1.45 Bln in Financing to Boost Oil Output
Venezuelan state oil company PDVSA on Friday signed financing deals totaling nearly $1.45 billion with a local firm and India's ONGC Videsh Limited to raise production at joint venture operations. DP Delta Finance…
ConocoPhillips sues Venezuela's PDVSA
Subsidiaries of U.S. oil company ConocoPhillips has sued Venezuelan state oil company PDVSA in a Delaware court, according to a court filing, accusing it of fraudulent operations involving its U.S. subsidiary Citgo.
PDVSA Sweetens Bond Swap Terms as Market Balks
Venezuelan state oil company PDVSA on Monday sweetened the terms of a bond swap proposal that had drawn market skepticism, offering more 2020 bonds in exchange for bonds maturing in 2017, part of an effort to improve the company's cash-flow situation.
Ecuador hopes OPEC will reach agreement in Algeria
Ecuadorean President Rafael Correa said on Saturday he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of "serious risks" for the group if they do reach a deal.
Iran, Ecuador Discuss Ways to Strengthen Oil Prices
Iran and Ecuador on Wednesday discussed ways that the two countries can strengthen oil prices as Iran signals it may support joint efforts by exporters to prop up flagging crude. Iran has been boosting output since Western sanctions were eased in January.
Venezuela Minister to Visit Oil-producing Nations in Effort on Oil Prices
Venezuelan Oil Minister Eulogio Del Pino on Saturday will begin a tour of OPEC and non-OPEC countries as part of an effort to reach consensus among oil-producing countries on a strategy for boosting crude prices, President Nicolas Maduro said on Friday.
Halliburton Reports $148 mln Loss via PDVSA Note
Oil services provider Halliburton Co on Wednesday reported a $148 million loss as a result of accepting a promissory note in exchange for unpaid invoices linked to Venezuela operations. Venezuelan state oil company…
