Us oil companies in venezuela

Oil drilling company Halliburton () still operates some oil rigs in Venezuela. But it has cut back production, citing millions in unpaid bills from Venezuela's state-run oil company, PDVSA. Last week, the company announced it took a $262 million charge during the second quarter due to its operations in Venezuela. Related: Hedge Funds Are Certain Oil Prices Will Head Higher. Venezuela’s oil production has declined to just 1.488 million barrels per day (mb/d) as of March, which is down more than 600,000 Venezuela is one of the world's largest exporters of oil and has the world's largest proven oil reserves at an estimated 296.5 billion barrels (20% of global reserves) as of 2012. In 2008, crude oil production in Venezuela was the tenth-highest in the world at 2,394,020 barrels per day (380,619 m 3 /d)

4 Feb 2019 As political tensions mount in Venezuela, the issue of the US and its allies by the state oil company PdVSA, which is currently in deep trouble. 15 Jan 2020 After nearly a year of sanctions on Venezuelan oil exports have failed “If Chevron is forced to leave Venezuela, non-US companies will fill the  12 Sep 2019 We are active in the exploration and production of extra-heavy crude oil and natural gas in Venezuela. The country is home to some of the  18 Feb 2020 As Venezuela's leader, Maduro has overseen a dire economic and humanitarian crisis — exacerbated in part by U.S-led efforts to strain the  15 Jan 2020 The deals involve exchanging crude for fuel and diluents in an effort to evade US sanctions. Chinese state oil company CNPC has also  25 Feb 2019 US companies doing business with Venezuela's state oil company. The United States has imposed tough sanctions on Venezuela's oil 

The sanctions block US companies doing business with Venezuela's state oil company, the PDVSA, and freeze the company's assets in the United States. These measures do not cut off imports entirely, but they do require payments to be made into accounts that Venezuela's state oil company cannot access.

Venezuela is exporting about 70 percent of its oil through Rosneft in what Treasury Secretary Steven Mnuchin described as the “looting of Venezuela’s oil assets by the corrupt Maduro regime.” Foreign oil companies’ continued presence in Venezuela is already the result of their willingness to compromise. In 2006-07, President Hugo Chávez moved to take control of the industry, which had received large-scale investment from companies including ExxonMobil, Chevron, ConocoPhillips and BP. The sanctions block US companies doing business with Venezuela's state oil company, the PDVSA, and freeze the company's assets in the United States. These measures do not cut off imports entirely, but they do require payments to be made into accounts that Venezuela's state oil company cannot access. Oil drilling company Halliburton () still operates some oil rigs in Venezuela. But it has cut back production, citing millions in unpaid bills from Venezuela's state-run oil company, PDVSA. Last week, the company announced it took a $262 million charge during the second quarter due to its operations in Venezuela. Related: Hedge Funds Are Certain Oil Prices Will Head Higher. Venezuela’s oil production has declined to just 1.488 million barrels per day (mb/d) as of March, which is down more than 600,000

Venezuela’s government has until April 28, 2019 to sell crude oil to the United States without sanctions. A loss of access to Venezuelan oil could prove to be a significant challenge to both

20 Feb 2019 Even before the sanctions against Petróleos de Venezuela, the state-owned company known as PDVSA, its crude production was rapidly  16 Jul 2018 Mark Green, the head of the U.S. Agency for International At first, Venezuela's state-owned oil company stood out from peers such as  PDVSA is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and commerce of hydrocarbons. Profile · Cardon IV   28 Jan 2019 WASHINGTON — The Trump administration imposed sanctions Monday on the state-owned oil company of Venezuela, a potentially critical 

20 Feb 2019 Even before the sanctions against Petróleos de Venezuela, the state-owned company known as PDVSA, its crude production was rapidly 

15 Jan 2020 The deals involve exchanging crude for fuel and diluents in an effort to evade US sanctions. Chinese state oil company CNPC has also 

14 Aug 2019 FILE PHOTO: A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. REUTERS/Ivan Alvarado.

18 Feb 2020 As Venezuela's leader, Maduro has overseen a dire economic and humanitarian crisis — exacerbated in part by U.S-led efforts to strain the  15 Jan 2020 The deals involve exchanging crude for fuel and diluents in an effort to evade US sanctions. Chinese state oil company CNPC has also  25 Feb 2019 US companies doing business with Venezuela's state oil company. The United States has imposed tough sanctions on Venezuela's oil  11 Dec 2019 a US oil embargo imposed in January, which was expanded to a blanket ban on all business with Venezuelan state companies in August. 22 Jan 2020 The U.S. has added 15 Venezuelan aircraft operated by state-owned oil company PDVSA, the latest in a series of measures targeting the Maduro  13 Jan 2020 The clock is ticking on the U.S.'s last remaining foothold inside the Venezuelan oil industry, with this month's sanctions waiver deadline for  6 Feb 2020 Venezuelan authorities rounded up U.S. oil executives held under Citgo, which is owned by Venezuela, said the company is continuing to 

Venezuela's oil company, PDVSA, used to be the main source of foreign income for the government. When crude was trading at more than US $100 per gallon, earnings for the company were counted by the billions, according to company reports. Now, PDVSA can barely stay afloat, U.S. Imports from Venezuela of Crude Oil and Petroleum Products (Thousand Barrels) Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec; 1993: 43,317: 36,275: 36,375: 39,425: 39,187: 38,756: 42,905: NA = Not Available; W = Withheld to avoid disclosure of individual company data. Release Date: 2/28/2020: Next Release Date: 3/31/2020