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Tag Archives: Venezuela

Latest Sign of Venezuela’s Oil Collapse Is 84% Surge in Stockpiles

Oil well flare at night

BLOOMBERG, OCTOBER 24, 2020 By Lucia Kassai for Bloomberg — Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nation’s most important commodity. That raises the risk that state-run PDVSA will have to start shutting in production again, and is the latest sign that Venezuela’s oil industry …

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Help on its way. Tanker on its way to offload oil from sinking ship in Caribbean

Oil tanker listing is ocean

REUTERS, OCTOBER 21, 2020 CARACAS – An oil tanker operated by Venezuelan state oil company Petroleos de Venezuela on Tuesday approached a floating oil facility where it is expected to receive crude via transfer at sea amid environmental concerns, Refinitiv Eikon data showed. Environmental groups have in the past two weeks expressed concern about a potential spill of the 1.3 million barrels …

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Oil Storage Tanker Threatening To Sink Off Venezuela

Oil tanker

PortandTerminal.com, September 1, 2020 A Floating Storage and Offloading (FSO) tanker off the coast of Venezuela is taking on water and threatening to sink, according to Eudis Girot, the head of the Unitary Federation of Petroleum Workers of Venezuela (FUTPV). In a social media post Sunday, Girot warned that the FSO Nabarima has about 1.3 million barrels of crude oil on board. She …

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Venezuela tightens grip on fuel stations after subsidy reform

cars. fence. darkness

REUTERS, JUNE 28, 2020 CARACAS – Venezuelan state oil firm PDVSA has told independent gas station operators it can revoke their licences “at any time”, only weeks after it cut generous fuel subsidies and as widespread shortages take hold, a notification PDVSA sent to the operators showed. PDVSA has a monopoly over the wholesale fuel distribution market and owns almost …

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Chevron Oil Cargo Tangled in U.S. Sanctions on Venezuela

Chevron outdoor sign

REUTERS, JUNE 5, 2020 HOUSTON — A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday. Adamant Maritime Ltd, owner of very large crude-oil carrier (VLCC) Seahero was sanctioned by the U.S. Department of Treasury on Tuesday for carrying a Venezuelan cargo …

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Iranian fuel starts arriving in Venezuelan waters despite U.S. warning. VIDEO

Screen grab from helicopter showing oil tanker at sea

REUTERS, MAY 24, 2020 CARACAS – The first of five Iranian tankers carrying fuel for gasoline-starved Venezuela entered the South American country’s exclusive economic zone on Saturday, despite a U.S. official’s warning that Washington was considering a response to the shipment. The tanker, named Fortune, reached the country’s waters at around 7:40 p.m. local time (1140 GMT) after passing north …

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Hit & Run Cruise Ship Update: Venezuelan Navy fired shots at cruise ship!

Venezuelan Navy Patrol Ship ANBV NAIGUATA (GCG-23)

PortandTerminal.com, April 2, 2020 The story about the cruise ship that rammed and sank the Venezuelan Navy vessel gets even more interesting. There are now claims that it was the Venezuelan Navy that fired warning shots at the cruise ship and rammed it. What’s going on here? CURACAO, VENEZUELA – There are now reports that the Venezuelan Navy ship Naiguata …

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Planeloads of cash from Russia have been shipped to Venezuela to sanctions

PortandTerminal.com, November 3, 2019 Venezuela kept afloat thanks to $315 million in cash sent from Russia, customs records suggest MOSCOW, RUSSIA – Bloomberg is reporting that Russia shipped hundreds of millions of dollars to Venezuela to help the beleaguered government of Nicolas Maduro evade US sanctions. Venezuelan President Nicolas Maduro: A little punch-drunk but still ready for a fight A …

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Is Venezuela still a mess? Yes. Here’s what’s going on with its oil industry now

PortandTerminal.com, October 15, 2019 Venezuela can’t sell its oil and storage tanks are full — so it’s giving it away to Cuba PortandTerminal.com, October 15, 2019 MIAMI, FL – With the recent oil market gyrations happening in the Middle East lately Venezuela has fallen out of the day to day spotlights of “countries in a deep mess”. Is Venezuela still …

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U.S. Sanctions Hit Global Oil Fleet as Traders Shun Nearly 300 Tankers

October 11, 2019 by Reuters By Marianna Parraga and Roslan Khasawneh MEXICO CITY/SINGAPORE, Oct 11 (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said. The move has taken roughly 3% of the global oil tanker fleet out of the market, …

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