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The Latest Breaking News from PDVSA

Venezuela's Opposition Set to Lose Control of Citgo as Delcy Rodríguez Government Takes Over

Following Maduro's capture and U.S. recognition of Delcy Rodríguez, Venezuela's opposition prepares to relinquish oversight of refiner Citgo.

Latin Times

Rubio kicks off tour in Latin America as US vies for regional influence

United States Secretary of State Marco Rubio on Tuesday arrived in Colombia following the recent election of hard-right lawyer and US ally President Abelardo de la Espriella, and a string of right-wing electoral victories across Latin America. Colombia is the first stop on a tour designed to bolster pro-US leaders…

France 24

The Venezuelan billionaire the US investigated for money laundering now has a Pentagon oil deal

Billionaire Alejandro Betancourt, once investigated by US authorities over alleged money laundering linked to Venezuelan state oil firm PDVSA, has emerged as a key US partner in a sweeping oil deal with Caracas. Reuters reports Betancourt helped Washington ahead of Nicolás Maduro’s capture and later brokered oil agreements benefiting US…

The Economic Times

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Wall Street Sees Oil Money in Venezuela. Doral Sees a Ticking TPS Clock

Venezuela's oil deal is fueling a Wall Street bond rally ahead of a record debt restructuring — but Doral's diaspora is watching a TPS deadline instead.

Latin Times

Trump Is Taking a Stake in Venezuela's Oil Industry and This Crony Is Cashing In

Alejandro Betancourt has become the key go-between for the Trump administration, Venezuela’s new regime, and American oil companies.

Reason

Venezuelans’ pride is bruised by deal to give US one-fifth of their oil reserves

Many Venezuelans see the deal giving the United States control of roughly one-fifth of their country's oil reserves as a surrender

The Independent UK

US firm to take over some Venezuela oilfields previously run by Chinese, Russian firms

The White House on Monday said it’s partnering with North American Blue Energy Partners as part of President Donald Trump’s push to tap into Venezuela’s oil industry, setting up a deal that will give the Pentagon a stake over roughly a fifth of the country’s vast oil reserves. Venezuela's ruling…

France 24

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Alejandro Betancourt, the controversial Venezuelan oil tycoon Trump is banking on

US President Donald Trump on Friday announced "the biggest oil deal in world history" – a new deal with Venezuela for "65 billion barrels of oil". Washington is set to take a 35 percent stake in North American Blue Energy Partners, which is owned by controversial Venezuelan oil tycoon Alejandro…

France 24

I'm working with Venezuela to kill its inflation. Trump’s secret oil deal with Delcy Rodriguez is illegitimate — and unhelpful

If you have to wait 558 years to produce and sell a barrel of oil, that barrel is virtually worthless in today's dollars.

Fortune

Venezuela’s Delcy Rodríguez defends ‘endless’ benefits of her oil deal with Trump

Deal that will reportedly see US take control of 65bn barrels of Venezuelan oil has provoked outrage in her country

The Guardian - UK

Rust, power cuts and delays: Inside Venezuela’s oil export crisis

Venezuela's oil exports face significant delays due to ageing port infrastructure. Tankers wait up to thirty days for loading, slowing operations considerably. Equipment failures and power outages plague key terminals, especially Jose. This congestion limits overseas shipments despite increased crude production. Infrastructure upgrades are crucial for Venezuela's oil export revival.

The Economic Times

Venezuela oil minister to U.S. companies: ‘It's an entire world waiting to be discovered’

Smaller, private U.S. oil producers are beginning to ink deals in Venezuela as the dilapidated energy industry evolves.

Fortune

Venezuelan Crude Is Quietly Cushioning U.S. Gas Prices as the Iran War Drags On

Chevron's expanded access to Venezuelan crude is easing U.S. gas prices during the Iran war, even as Venezuelan migrants face separate deportation risk.

Latin Times

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

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Latin 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.

International Business 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.

The Economic Times

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…

International Business 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.

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Euronews

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.

Latin Times

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

The Independent UK

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

Axios

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.

Latin Times

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.

The Independent UK

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

Latin Times

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.

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