The government has created the necessary legal framework to privatize the industry, as Trump requested. The United States has lifted restrictions on crude trade with the Caribbean nation and resumed commercial flights
Trump’s announcements authorizing the purchase and exploitation of Venezuelan oil improve expectations for the country’s ailing finances
Since becoming the country with the largest crude reserves on the planet in 2010, its production has fallen to historic lows
Former PDVSA workers in Houston watch seized tankers arrive in the city that became their new home
The shipment could be worth close to $2.8 billion
The relationship between the two countries is once again marked by the energy wealth of the Caribbean nation
The Caribbean country has the world’s largest crude oil reserves, but years of underinvestment are hindering its production
The seizure of tankers points to a gradual plan to cripple the finances of Nicolás Maduro’s regime
The representative describes the government’s decision to pause all immigration processes for citizens of 19 countries as ‘unfair’ and ‘un-American’
Washington has had conflicting opinions that converge around the need to control drug trafficking in the Caribbean, punish Maduro and end the Cartel of the Suns without mobilizing troops on the ground
The multinational intends to produce 1.2 million barrels per day in the short term
The Maduro government is accusing the oil company of lobbying to facilitate competitor Chevron’s departure from Venezuela, while also claiming multi-billion-dollar oil wells in Guyana as its own
Of these, 16 are state-owned, according to a report that tracks the climate footprint of oil, gas, coal and cement producers
The slight economic growth of recent years could be hampered by fiscal imbalances
American physicist David Keith is the best-known promoter of solar geoengineering, a controversial alternative in the fight against climate change
Under Obama, Biden and Trump, Washington has introduced economic measures against the Maduro government. Here is an overview of how these moves have impacted the country
122 companies and entities are responsible for 72% of all the carbon dioxide emitted by the fossil and cement sector since the beginning of the Industrial Revolution
The full extent of the damage to the Liberian-owned ship remained unclear, but the crew abandoned the ship and deployed lifeboats
The acquisition of Hess would add a major oil field in Guyana, but it will require the approval of Exxon Mobil and a Chinese national oil company
California, Oregon and Washington already enforce low carbon fuel standards. The bill would require producers of high-polluting fuels to buy credits from producers of low-carbon fuels
It would be the third largest producer in the Permian behind Exxon and Chevron, overseeing 838,000 acres and potentially producing 816,000 oil-equivalent barrels each day
The acquisition comes at a time when there’s increasing consolidation in the energy sector. In October Exxon Mobil announced that it was buying Pioneer and Chevron acquired Hess
Chevron posted a third-quarter profit of $6.53 billion. Lofty crude prices have fueled a shopping spree this year as Exxon acquired Denbury and Pioneer, and Chevron bought Hess
An increase in Venezuelan oil production may open the door to a debt restructuring, according to the financial sector
Berkshire bought nearly 4 million more shares of the Houston-based oil producer to give it more than 228 million shares and control of nearly 26% of Occidental
The acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. High crude prices mean big drillers are flush with cash and looking for places to invest
Maduro’s government agreed to open up the electoral process, including allowing European Union observers and creating a process for lifting bans that have blocked his top opponents from running for president
