Topic
venezuelaoil
5 stories, newest first.
Business & Economy · Middle EastOrlen lost $230 million in failed Venezuelan oil deal
Poland's state energy company Orlen lost $230 million in a failed attempt to purchase Venezuelan oil in late 2023. The deal involved intermediaries and cryptocurrency payments, bypassing US sanctions, but Orlen received only a fraction of the oil it paid for.
Middle East4 min readTrust 42 · Craft 57 · Hype 41
Politics · Latin AmericaUS structured Venezuela oil stake with warrants to prevent dilution
The U.S. government structured its 35% stake in a Venezuelan oil venture using "penny warrants" to shield it from dilution. This mechanism ensures Washington realizes the full value of the project, according to a U.S. official.
Latin America3 min readTrust 60 · Craft 60 · Hype 20
Business & Economy · Latin AmericaUS Energy Secretary Denies Stealing Venezuelan Oil
US Energy Secretary Chris Wright has denied accusations that Washington is attempting to steal Venezuelan oil. He stated that an agreement allows the US to exploit 20% of the country's reserves, with revenue shared.
Latin America3 min readTrust 76 · Craft 62 · Hype 30- Business & Economy · Latin America
Chevron to invest $7bn in Venezuela oil production after US deal
Chevron announced plans to invest over $7 billion in Venezuela, targeting 600,000 barrels per day by 2031. The deal follows a US government push to revive Venezuela’s oil industry, including Pentagon profit-sharing, but analysts question its legal and political durability.
Latin America5 min readTrust 80 · Craft 85 · Hype 15 
Business & Economy · Latin AmericaUS firm to take over Venezuelan oilfields from Chinese and Russian companies
A U.S.-backed company, North American Blue Energy Partners, is set to take over oilfields in Venezuela previously operated by Chinese and Russian firms. The deal grants the U.S. government a significant stake and preferential access to production.
Latin America4 min readTrust 78 · Craft 65 · Hype 15