Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources said on Wednesday that Chevron would receive an expanded Venezuela license this week from the U.S. Government. This could allow increased production and exports from South America. Sources said that the U.S. oil company is expected to be among several firms who…
US permits talks about Lukoil’s foreign assets to continue until February 28,
The U.S. Department of Treasury on Wednesday extended the license for companies to 'talk' with Russian energy giant Lukoil regarding buying their foreign assets by more than one month, until February 28, 2019. On October 22, President Donald Trump sanctioned Lukoil, one of Russia's largest energy companies…
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources told us on Wednesday that Chevron will receive a Venezuela license extension from the U.S. this week. This could lead to increased production and exports. Sources said that the U.S. oil company is expected to be among several firms who will receive approvals to…
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Lower oil prices will likely reduce?U.S. The Energy Information Administration reported on Tuesday that drilling activity will reduce production by 1% in the top producing country this year, and a possible increase of supply from Venezuela may 'add pressure. The Department of Energy’s statistical arm echoes concerns from some U.S.
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Energy Information Administration reported on Tuesday that lower oil prices will reduce U.S. drilling activity and reduce production by 1% in the United States this year, while a possible increase in Venezuelan output could add to the pressure. The Department of Energy's statistics arm's comments add to the concerns expressed by some U.S.
Trump blocks courts from seizing Venezuelan Oil Revenue in US Accounts
The White House announced on Saturday that U.S. president Donald Trump had signed an executive order to prevent?courts and creditors from impounding revenues tied to the sale of Venezuelan oil in U.S. Treasury accounts. The order stated that the money held in foreign government deposits should be used to create "peace and prosperity" in Venezuela.
ROI-Trump's Venezuela oil grab revives 'petrodollar' debate: McGeever
The arrest and capture of Venezuelan president Nicolas Maduro by the United States on Saturday was likely motivated by many factors, but one that has been little discussed is the White House's concern about the declining global prominence of "petrodollar". Venezuela's oil production is modest, at just 1 million barrels a day.
Eni and Repsol are fighting to recover $6 billion of gas payments that Venezuela owes them, reports FT
The Financial Times reported that European energy companies Eni and Repsol struggle to recover around $6 billion in gas payments from Venezuela, and are?facing an indifference by U.S. officials regarding the debt. Eni, Repsol and the U.S. Treasury didn't immediately respond to "request for a statement. Could not verify the report immediately.
Venezuela's distressed debt of billions: Who will collect?
The fall of Nicolas Maduro brought Venezuela's debt crisis, one of the largest unresolved defaults in the world, to the forefront. Venezuela defaulted on its international bonds in late 2017 due to the economic crisis that lasted for years and the U.S. sanctioning the country, which cut it off from the international capital market.
Venezuela's distressed debt of billions: Who will collect?
The fall of Nicolas Maduro brought Venezuela's debt crisis, one of the largest unresolved defaults in the world, to the forefront. Venezuela defaulted on its international bonds in late 2017, after years of economic turmoil and U.S. Sanctions that cut the country off from international capital markets.
US permits oil sales from Russia’s Sakhalin-2 Project through June 18,
The U.S. extended a waiver on Wednesday that allows oil sales from Russia's Sakhalin-2 Project through June 18, next year. This is a move that will likely allow production of liquefied gas to continue. The general license issued by the U.S. Treasury Department is crucial for U.S. allies Japan who gets around 9% of their LNG from Russia.
Carlyle hires Goldman Sachs to bid for Lukoil assets
Two sources familiar with the matter said that Carlyle, the U.S.-based private equity firm, has hired Goldman Sachs for its bid to acquire Lukoil's assets. The race for the Russian oil company's foreign portfolio is heating up. Carlyle and?U.S. Sources have confirmed that Exxon Mobil, Chevron…
BP and Chevron top the list of bidders in Trump's first Gulf of Mexico Oil and Gas auction
BP, Chevron, and Shell were the top bidders at the first U.S. Government sale of oil and natural gas drilling rights for the Gulf of Mexico since 2023. The auction ended with a total of $279.4 millions in "high" bids. It was the first out of 30 required by President Donald Trump's tax cuts and spending bill that he signed in July.
US permits negotiations over Lukoil’s foreign assets to take place until January 17, 2019.
The United States extended Wednesday a deadline for negotiations to buy the global assets of Russian Oil?company Lukoil. It was originally set at?January 17th. Lukoil's assets were put up for sale soon after President Donald Trump imposed sanctions against the two largest Russian energy companies on October 22…
US auctions first Gulf of Mexico Oil and Gas since 2023
On Wednesday, the Trump administration will conduct the first government sale of oil-and-gas drilling rights in Gulf of Mexico?since 2023. This is a test of the industry's appetite?for offshore acres at a moment when the United States?is trying to increase domestic fossil fuel production.
The US-Venezuela Relationship as Seen Through the Price of an Oil-Linked Bond
The increased pressure from the United States on Venezuelan President Nicolas Maduro and his government has brought to light the defaulted debts of Venezuela, including those of Petroleos de Venezuela (PDVSA), the state-owned oil company. Venezuela defaulted in its debts in 2017, but PDVSA paid holders of a bond that matures in 2020.
Venezuela appeals the sale of Citgo parent by US court
In court filings made on Monday, Venezuelan lawyers said they had filed an appeal before the U.S. Court of Appeals, Third Circuit, challenging a judge's order from last week that authorized the sale of PDV Holding shares. Delaware Judge Leonard Stark approved last week the sale of Citgo Holding…
Gunvor's managers buy out Tornqvist's CEO as the company seeks to 'definitive re-set'
Torbjorn Tornqvist, the CEO of global commodity trading firm Gunvor, will sell his entire shareholding as part of a management buyout. This comes after the U.S. labeled the company the "Kremlin’s puppet" because it had previously been linked to Russia. Gary Pedersen, the Americas director who was hired just last year by the firm…
Sources say that RPT-Gunvor is weighing the US energy push, which could strengthen Washington ties.
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil.
Gunvor considers US energy push, which could strengthen Washington ties
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil.