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Venezuela

  • In the News

    Trump Sets 25-Percent Tariff on Countries Purchasing Venezuelan Oil

    by Adedotun Oyeniyi March 25, 2025
    by Adedotun Oyeniyi March 25, 2025

    President Trump announces a 25 percent tariff on countries buying Venezuelan oil and gas, with China being the largest buyer.

  • In the News

    Citgo Auction Heats Up: Bidders Get Second Chance to Raise Offers

    by Victor Adetimilehin June 13, 2024
    by Victor Adetimilehin June 13, 2024

    The fight to acquire Citgo Petroleum, the seventh-largest oil refiner in the United States, has intensified. A court overseeing the auction of shares in Citgo’s parent company, Venezuela’s PDVSA, is …

  • In the News

    Citgo’s Texas Refinery Draws Interest Ahead of Court Auction

    by Victor Adetimilehin June 6, 2024
    by Victor Adetimilehin June 6, 2024

    Citgo’s Corpus Christi refinery, previously considered the least profitable, is now a hot ticket due to its location and potential for growth. The deadline for bids in the court-ordered auction …

  • In the News

    Bidding War Heats Up for Venezuelan Refinery Giant Citgo

    by Victor Adetimilehin April 19, 2024
    by Victor Adetimilehin April 19, 2024

    Hedge fund Elliott Management and a creditor group led by Centerview Partners are emerging as potential new owners for Citgo Petroleum in a court-ordered auction. The auction is expected to …

  • In the News

    Shell Seeks Extended US License for Venezuelan Gas Project

    by Victor Adetimilehin April 4, 2024
    by Victor Adetimilehin April 4, 2024

    Oil major Shell is pushing for a longer license from the US before giving the green light to a natural gas project in Venezuela. The “Dragon” field, located near the …

  • In the News

    Venezuela’s Oil Industry Gets a Boost as Chevron Restarts Drilling

    by Victor Adetimilehin April 2, 2024
    by Victor Adetimilehin April 2, 2024

    Venezuela’s oil industry is on the rise after Chevron restarted drilling operations. This follows the US easing sanctions on Venezuelan oil in October 2023. The new drilling program is expected …

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