Oil & Gas

Petroleos de Venezuela spends 50% of revenues in investments in 2009
Bylined to: El Universal
Tuesday, September 07, 2010

Economic data show that state-run oil company Petroleos de Venezuela (PDVSA) should return to the path of investment in the oil business. However, the oil conglomerate, which has become one of the pillars of President Hugo Chavez government's social

Andrew McKillop // Reconstructing climate change...
Bylined to: Andrew McKillop
Monday, September 06, 2010

Through the whole year of 2009, building up to the failed Copenhagen "climate summit," climate change was heavily promoted by a small but powerful group of OECD political leaders and their corporate, press and media elites as a major challenge to the

Oil exports to China increasingly key for Venezuela
Bylined to: Reuters
Sunday, September 05, 2010

Venezuela is sending increasing volumes of oil exports to China that were once bound for the United States and plans to boost shipments to Asia while questioning the relevance of its refineries in North America.

Average price of VZLA crude rose to $66.77 from $65.17 September 3
Bylined to: Wire Services
Sunday, September 05, 2010

According to figures released by the Venezuela Ministry of Energy and Petroleum, the average price of Venezuelan crude sold by Petroleos de Venezuela S.A. (PDVSA) during the week ending September 3 rose to $66.77 from the previous week's $65.17 avera

Colombians could enter joint venture in Venezuela's Orinoco Oil Belt
Bylined to: Patrick J. O'Donoghue
Wednesday, September 01, 2010

Foreign Minister Nicolas Maduro said bi-national committees installed after Venezuela and Colombia resumed relations are up and running with mutual respect and sufficient confidence to solve trade difficulties in border areas.

Oliver L Campbell // Were PDVSA's external auditors leaned upon?
Bylined to: Oliver L. Campbell
Sunday, August 29, 2010

The claims for compensation from PDVSA under the various disputes submitted to international arbitration amount to some US$40 billion ... but the provision the company has booked at the end of 2009 is only $1 billion.

Russia's Rosneft in "advanced negotiations" 50% of Ruhr Oel from PDVSA
Bylined to: Guy Chazan
Friday, August 27, 2010

In a coup for the Kremlin, Russian oil major OAO Rosneft is close to acquiring stakes in four German refineries, marking one of the largest purchases of assets in western Europe by a state-controlled Russian energy company.

Exxon/PDVSA Chalmette refinery to shut 3 units saving $8 million a month
Bylined to: Reuters
Friday, August 27, 2010

Exxon Mobil Corp's 196,000 barrel per day (bpd) joint venture Chalmette, Louisiana, refinery will shut three units in a reconfiguration planned to save between $8 million and $9 million per month, according to sources familiar with the plans.

Venezuelan oil industry is going through a cycle of sinking output
Bylined to: El Universal
Monday, August 23, 2010

Official numbers show that the Venezuelan oil industry is going through a cycle of sinking output and significant downsizing of exported barrels; this means troubles to meet the demand of US dollars.

Ambassador to Tehran: Venezuela won't stop shipping gasoline to Iran
Bylined to: Business Week
Thursday, August 19, 2010

David Velasquez is Venezuela's ambassador to Tehran. He says President Hugo Chavez' government won't be bullied into halting its gasoline shipments to Iran, one of Venezuela's closest allies in the Middle East since Chavez took office.