Venezuela’s Oil trapped in Hurricane Trump’s Onslaught

Venezuela’s Oil trapped in Hurricane Trump’s Onslaught

Reduced to a marginal oil producer over the past decade, Venezuela has suffered another blow as United States president Donald Trump ordered punitive measures to blockade and further restrict the country’s oil exports. Venezuelan crude will likely navigate the fringes of global oil trade and finance, flowing toward Asian markets as the government seeks to …

The president of Venezuela, Nicolás Maduro, denounced this Friday, that due to the sanctions imposed by the United States (US), the South American nation had a 99 percent loss of national income. READ ALSO: Nicolás Maduro proclaims an end to the colonial era during the meeting with the GPPSB “They made us lose. They directly took away 99 percent of our national income, as a result of the attack on the Venezuelan oil industry,” the Venezuelan pre…

Venezuelan Vice President: Reuters is Lying Shamelessly

Venezuelan Vice President Delcy Rodríguez strongly denounced Reuters’ false reports about PDVSA and Chevron. Rodríguez also asserted that the Venezuelan oil company is maintaining its commitments to the US company, despite the sanctions imposed by the Donald Trump administration. “Reuters is blatantly lying again. PDVSA maintains its commitments to Chevron as stipulated in its contracts and in accordance with the country’s laws,” the oil ministe…

Vitol steps up Venezuela oil buying before U.S. license lapses – Oil & Gas 360

(World Oil) – Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a U.S. license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than doubled buying in April compared with March, when it took 1 million barrels, the data shows. Vitol’s license t

The Asian country will see fewer risks of trade retaliation when buying Venezuelan crude The economist Francisco Rodríguez warned that the US tariff increase imposed on China could open a new opportunity for Venezuelan oil in the Asian market. He explained, in an interview with Unión Radio, that the tariff measures announced by the Donald Trump administration could reduce the Chinese regime's fear of economic retaliation for acquiring Venezuelan…