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The Latest Breaking News from PDVSA

Oil: 'Mother Of Corruption' In Venezuela

Corruption in Venezuela's oil industry is a many-headed monster that has devoured billions of dollars in taxpayers' money in the past 20 years, experts say.

International Business Times

Texas billionaire announces deal with Venezuelan state-run company after U.S. sanctions reimposed

LNG Energy Group was awarded contracts to rehabilitate five aging oil fields

Latin Times

Tether to freeze accounts following reports of Venezuelan oil company using USDT to evade sanctions

Nicolás Maduro failed in his attempt to have his own cryptocurrency to "overcome the financial blockade"

Latin Times

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Venezuela's State Oil Company To Push Crypto Adoption Amid US Sanctions: Report

Venezuela's PDVSA is reportedly planning to speed up crypto adoption in oil transactions after the U.S. Treasury announced it will reimpose sanctions on the country's vast oil sector.

International Business Times

US reimposes oil sanctions against Venezuela over election concerns

Move in US election year could push up oil prices, but Washington says Maduro has not made promised electoral reforms.

Al Jazeera

Venezuela scrambles to give assets it seized from ConocoPhilips to a local company

Venezuelan firm A&B Investments is set to partner with state-run PDVSA to run fields in the Orinoco Belt before U.S. sanctions go back in place

Latin Times

Venezuela Arrests Ex-oil Minister El Aissami In Graft Probe

Venezuelan authorities announced the arrest Tuesday of influential ex-oil minister Tareck El Aissami, who had resigned from his post last year amid a corruption scandal at state oil company PDVSA. "We have managed to reveal the direct participation and consequent arrest" of El Aissami, Attorney General Tarek William Saab said,…

International Business Times

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Chavez Legacy Looms Large, And Divides Venezuela, 25 Years On

"Chavez lives, damn it!" At 16:25 every day a soldier shouts out: "Chavez lives, damn it!"

International Business Times

Who Is Seeking to Invest in Venezuelan Oil Amid Easing of U.S. Sanctions?

The easing of sanctions in Venezuela has renewed interest in Venezuela

Latin Times

Will Sanctions Easing Reboot Venezuela's Oil Industry?

On paper, the easing of US oil sanctions against Venezuela should allow its battered economy to once again profit from a resource it has more of than any country in the world.

International Business Times

President Maduro Expects 8% Economic Growth In 2024 After 5% Increase Last Year

Maduro assured that the inflation will be two digits this year, adding that state oil company PDVSA contributed $6.23 billion to Vanezuela's coffers in 2023.

Latin Times

Guyana, Venezuela, 11bn barrels of oil – and six centuries of colonial conflict

Maduro’s annexation threat is only the latest move on a chessboard stretching back to the 15th century. The outcome could reverberate throughout Latin America and the Caribbean

The Guardian - UK

Chevron, Exxon Responses Diverge Amid Venezuela-Guyana Border Buildup

ExxonMobil and Chevron are both waiting to see what happens next for Guyana, as a dizzying set of competing incentives come into play.

International Business Times

Guyana's president says it is preparing for a possible incursion by Venezuela into disputed area

Guyana's president tells The Associated Press his country is taking every necessary step to protect itself from a potential incursion by Venezuela, which has ordered its state-owned companies to explore and exploit oil and minerals in Guyana’s vast Essequibo region that it considers its own

The Independent UK

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WEKU

Oil spills increase in Venezuela as it revs up output after the U.S. lifted sanctions

After the U.S. lifted its sanctions, Venezuela is trying to revive its beleaguered oil industry. But ramping up production is causing more oil spills.

The Week

How Latin America became the battleground in Cold War 2.0

Latin America is serving as a proxy battleground for a new Cold War as China, Iran and Russia seek to build influence, exploit resources and undermine the United States in the region.

The Week

Inside Venezuela’s oil corruption scandal

Dozens of business figures and politicians have been arrested so far this year in a £17bn corruption scandal that has rocked Venezuela and its state-run oil company.

Zenger

Venezuela Oil Corruption Massive Scandal Prompts Rare Resignation Of Oil Minister

Due to a widespread corruption scandal involving the national oil corporation, Venezuela's former oil minister resigns.

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Reuters

Venezuelan parliament passes law to seize assets linked to corruption cases

Venezuela's ruling party-controlled National Assembly on Thursday approved a law allowing the government to seize assets linked to corruption cases, as it investigates irregularities at state oil company PDVSA and other state companies.

McClatchy Washington Bureau

As Petro visits, White House threatens new pressure on Maduro without democratic progress

President Joe Biden is open to increasing pressure on Venezuela if Nicolás Maduro fails to take concrete steps toward democratic elections, the Biden administration said on Thursday, as Colombia’s President Gustavo Petro visited the White House.

Reuters

Venezuela corruption probe snares another former top PDVSA executive

A former vice president of Venezuela's state oil firm PDVSA was arrested as part of a widening anti-corruption probe looking into wrongdoing at the state company, a government official said on Wednesday.

Reuters

Cuba's fuel shortages due to supplier nations not delivering, says president

Cuba's President Miguel Diaz-Canel said the island's ongoing gasoline shortages were caused by countries contracted to supply the fuel not complying with their requirements due to "a complex energy situation."

Reuters

Colombian businessman arrested in Venezuela PDVSA graft probe: minister

Venezuelan authorities have arrested Colombian businessman Alvaro Pulido in an ongoing investigation into alleged corruption at Venezuelan state-run oil company PDVSA, Venezuela's communications minister said on Friday.

Reuters

Venezuela arrests nine CVG officials over corruption probe

Venezuelan authorities have taken nine officials from state-owned metals conglomerate Corporacion Venezolana de Guayana (CVG) - including from steel-maker subsidiary Sidor - into custody during corruption investigations, attorney general Tarek Saab said on Sunday.

Reuters

Venezuela investigates possible corruption at state metals conglomerate

Venezuela's attorney general said on Friday he was investigating alleged acts of corruption in state-owned metals conglomerate Corporacion Venezolana de Guayana (CVG).

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