PDVSA Archives - The American Energy News

Venezuela falls behind on oil-for-loan deals with China, Russia

Deliveries of almost 7 million barrels of Venezuelan crude rescheduled or skipped By Marianna Parraga and Brian Ellsworth Venezuela’s state-run oil company, PDVSA, has fallen months behind on shipments of crude and fuel under oil-for-loan deals with China and Russia, according to internal company documents reviewed by Reuters. The delayed shipments to such crucial political […]

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PDVSA bribery scandal: Company seeks compensation in case

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Two Venezuelans living in US pleaded guilty in PDVSA bribery scandal By Nate Raymond Dec 5 (Reuters) – A unit of Venezuela’s state-run oil company PDVSA has asked a U.S. court to order two businessmen to compensate it for carrying out a “staggering” bribery scheme that cost the company $600 million in losses. A motion filed

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PDVSA oil spill in Anzoategui state reported

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PDVSA oil spill affected drinking water in nearby communities CARACAS, Nov 7 (Reuters) – Venezuela’s state oil company PDVSA said on Monday there had been an oil spill in central Anzoategui state and it was supplying drinking water to affected communities during an operation over a radius of 50 kilometers (31 miles). PDVSA said in

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Selling uniforms for food, Venezuela oil workers feel the pinch

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Venezuela oil workers struggle with triple-digit inflation By Alexandra Ulmer MARACAIBO, Venezuela, Oct 5 (Reuters) – For decades, jobs at Venezuela’s state-run oil giant PDVSA were coveted for above average salaries, generous benefits and cheap credit that brought home ownership and vacationing abroad within reach for many workers. Now, in Venezuela’s asphyxiating economy, even PDVSA employees

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Venezuelan oil imports slump on payment woes, economic meltdown

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Venezuelan oil output drop expected to be worst in 14 years By Marianna Parraga HOUSTON, Aug. 26 (Reuters) – Venezuela has not been able to import all the crude and fuel it needs this year to cover shortfalls at oilfields and refineries as state-run PDVSA struggles to pay suppliers on time, according to trade sources and internal

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In the murky Venezuelan oil industry, the deal that went too far

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Large Venezuelan oil services tender won by small, inexperienced Columbian trucking firm By Alexandra Ulmer and Girish Gupta CARACAS/BOGOTA, July 26 (Reuters) – Even for Venezuela’s notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders in recent

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