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The Latest Breaking News from PDVSA

ONGC gets US licence to resume full Venezuela operations, eyes operatorship

ONGC has received a US Treasury license to resume full operations in Venezuela. This approval removes sanctions-related risks, allowing expanded production and new agreements. ONGC Videsh holds stakes in San Cristobal and Carabobo oil projects. The company expects to recover pending dividends and potentially take operatorship. India seeks to diversify…

The Economic Times

Energy Department Under Fire as Venezuela Oil Deals Stall, Testing Rubio's Energy Strategy

Nearly eight months after President Donald Trump promised a rapid reopening of Venezuela's oil sector to American companies, the administration is facing mounting criticism as no new U.S. oil production contracts have been finalized, raising fresh questions about whether Washington's ambitious energy strategy is losing momentum.

Latin Times

Trump Promised a Rapid Venezuela Oil Revival. Eight Months Later, American Companies Have Not Seen It.

According to senior U.S. officials and people familiar with negotiations, much of the blame is being directed at the U.S. Department of Energy for the lack of deals with Venezuela.

International Business Times

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Explained: Venezuela's complex and contested debt puzzle

Venezuela faces a massive debt restructuring with creditors holding diverse claims. The nation's debt is estimated between $150 billion and $240 billion. External commercial Eurobond debt totals approximately $60 billion, with accrued interest. Bilateral lending accounts for about $25 billion, including significant amounts to Russia and China. Arbitration claims and…

The Economic Times

Venezuela Reactivates Idle Oil Rigs As Industry Overhaul Draws Global Energy Players Back

Oilfield service companies operating in Venezuela are redeploying equipment as the interim government pushes ahead with a broad industry overhaul.

International Business Times

Repsol agrees Venezuela deal to boost oil production and regain control of assets

Spanish energy company Repsol has reached an agreement with Venezuela’s government and state-owned company Petróleos de Venezuela (PDVSA) to regain operational control of key oil assets and sharply increase production over the next three years.

Euronews

U.S. Filing Reveals Legal Adviser Working to Advance Venezuela's Delcy Rodríguez's Agenda in Washington

The filing states that Jihad M. Smaili, a California-based lawyer, will provide legal representation related to ongoing and future disputes, including matters tied to PDVSA and Citgo

Latin Times

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Venezuela’s Delcy Rodríguez pitches newly opened oil sector to investors at Miami summit

Venezuela’s acting President Delcy Rodríguez is selling investors on a newly opened oil industry and looser U.S. sanctions

The Independent UK

Rubio to testify in friend's trial over Venezuela oil deal

The Miami trial sheds light on the unseemly world of shadowy foreign influence efforts in Latin America.

Axios

U.S. Eases Sanctions and Lets Companies Do Business With Venezuelan State-Owned Oil Company As Global Prices Surge Due To Iran War

It allows companies that existed before Jan. 29, 2025, to buy Venezuelan oil and engage in transactions that would normally be banned under U.S. sanctions, allowing Venezuela to reenter global markets.

Latin Times

US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

The Treasury Department is easing sanctions on Venezuela’s state oil company, with some limits

The Independent UK

Venezuela Scrambles to Lure Oil Experts Back Home as U.S. Pushes to Revive Industry: 'We're Already in a War for Talent'

Venezuela's effort to revive its oil industry faces a critical obstacle: a shortage of skilled workers after decades of economic collapse and political turmoil drove thousands of engineers, geologists and technicians abroad, a new report details.

Latin Times

Trump’s Energy Minister insists that the President’s interests in Venezuela aren’t about oil, even though he is about to travel for oil

Everything the administration has done so far proves it is about oil.

We Got This Covered

Venezuela approves bill to open oil sector to foreign investment after US pressure

Law will give private companies more control but experts unsure whether changes go far enough for US

The Guardian - UK

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The Times of India

After Trump push, Venezuela moves to open oil sector, ending years of state control

Venezuela's National Assembly has approved a new law opening its oil sector to private companies. This reverses a policy of state control lasting over 20 years. The law allows private firms to manage oil production and sales. It also permits international arbitration for disputes. Extraction taxes will be adjusted.

The Conversation

Venezuela’s oil industry has flailed under government control – Mexico and Brazil have had more success with nationalizing

U.S. President Donald Trump has ignited a contentious debate over who has the right to control Venezuela’s vast oil reserves.

Fortune

Trump pushes for $100 billion in oil investments in Venezuela while Exxon and others say it’s currently ‘uninvestable’ without major reforms

Oil giants tell Trump they need stability and considerable legal and political reforms before investing big in Venezuela.

Fortune

'What we call corruption': Harvard economist and former Venezuelan minister says Trump’s oil profit motives have no place in Venezuela's future

Ricardo Hausmann argued stable, democratic leadership in Venezuela can lead it back to economic prosperity.

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news in one place.

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Fortune

Paul Singer’s Elliott positioned to win Venezuela’s forced sale of Citgo Petroleum that’s proceeding amid Maduro removal and arrest

Elliott's Amber Energy is poised to close the sale of Citgo and receive more Venezuelan crude barrels.

Euronews

US could run Venezuela and tap into its oil reserves for years, Trump says in interview

US special forces snatched president Maduro and his wife in a lightning raid on Saturday and whisked them to New York to face trial on drug and weapons charges.

International Business Times

Chevron Eyes Bigger Role in Venezuelan Oil After Talks With US Officials

Chevron is negotiating with the U.S. to expand its Venezuelan oil license and increase crude exports amid ongoing sanctions and talks.

Fortune

The U.S. naval blockade of Venezuela has cost $700 million already—and is rising by $9 million daily

Trump is urging U.S. oil companies to return to Venezuela but question marks remain with instability, high costs, and weak oil prices.

Texas Observer

Why Houston Oil Majors Are Hesitant to Go All In on Venezuela

Though petro-giants have long sought lost assets in the South American country, they have reasons, for now at least, not to leap at Trump’s invitation to join his war on the climate and the international legal order.

The Conversation

What the US strike on Venezuela could mean for global oil prices

The capture of former Venezuelan president Nicolás Maduro by the US intelligence services and armed forces has resulted in a frenzy of speculation about its consequences. But there is no doubt that the events were closely linked to the oil riches of the country. While the political situation in Venezuela…

Fortune

Venezuela’s 20-year downfall featured a weird bromance between Hugo Chávez and Sean Penn, ex-husband of Madonna and ‘One Battle After Another’ actor

Colonel Lockjaw played a very different role when he visited Caracas to see Venezuelan President Hugo Chávez and the Mexican jungle, to meet El Chapo.

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Joaquin “El Chapo” Guzman

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