Green Car Congress

NOVEMBER 27, 2022

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued Venezuela General License (GL) 41 , authorizing Chevron Corporation to resume limited natural resource extraction operations in Venezuela. Purchase and importation into Venezuela of goods or inputs related to the activities described in this general license, including diluents, condensates, petroleum, or natural gas products. This authorization prevents PdVSA (Petróleos de Venezuela, S.A.)

Venezuela 283

Venezuela Chevron Oil Trinidad 283

Green Car Congress

OCTOBER 1, 2012

State-run oil company Petróleos de Venezuela, S.A. PDVSA) and India’s Reliance Industries Limited (RIL), last week signed two agreements to boost extra-heavy crude oil production in Venezuela’s Orinoco Oil Belt (FPO) and sell up to 400,000 barrels per day (bpd) to the country. Venezuela will send Reliance between 300,000 and 400,000 barrels per day. Venezuela currently sends 270,000 bpd to India; India’s oil consumption currently amounts to 4.2

Venezuela 212

Venezuela 2012 India Supplies 212

Green Car Congress

SEPTEMBER 29, 2012

Russian oil and gas major Rosneft, 75% owned by the government, will invest $16 billion in a planned joint venture project with Venezuela’s state oil and gas company PDVSA to develop the Carabobo 2 block in the southern Orinoco extra-heavy crude belt in Venezuela, according to Rosneft CEO Igor Sechin. The Orinoco oil belt in Venezuela.

Venezuela 216

Venezuela 2012 Russia Oil 216

Green Car Congress

AUGUST 9, 2013

The study also found that any absence of oil sands on the US Gulf Coast would most likely be replaced by imports of heavy crude oil from Venezuela, which has the same carbon footprint as oilsands crude. the decision on Keystone XL may ultimately boil down to a determination of oil market share between Canada and Venezuela. Venezuela.

Venezuela 226

Venezuela 2013 Oil-Sands Insight 226

Green Car Congress

OCTOBER 16, 2013

an indirectly non wholly-owned subsidiary of Wison Engineering Services, was awarded a procurement and construction (PC) contract by Venezuela’s PDVSA Petroleo, S.A.for the site preparation for the Puerto la Cruz oil refinery Deep Conversion Project. The bulk of Venezuela’s oil reserves in the Orinoco Oil Belt is formed by heavy and extra heavy crude oil. This partnership will be also conducive to maintaining and deepening trade and economic cooperation between China and Venezuela.

Venezuela 176

Venezuela 2013 Chinese America 176

Green Car Congress

NOVEMBER 23, 2010

Italy-based oil and gas major Eni and PDVSA (Petróleos de Venezuela), the state-owned oil and gas corporation of the Bolivarian Republic of Venezuela, signed contracts for the creation of two joint ventures (Empresas Mixtas, Mixed Enterprises). PDVSA will own 60% of both JVs, according to the terms of the new hydrocarbon law of the Bolivarian Republic of Venezuela. 2009, An estimate of recoverable heavy oil resources of the Orinoco Oil Belt, Venezuela: U.S.

Venezuela 189

Venezuela 2010 Oil 2009 189

Green Car Congress

JANUARY 19, 2012

Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. Venezuela President Hugo Chavez said that oil cooperation between the two countries dates back to 2004, with the late Argentine President Nestor Kirchner. In the 1990s Venezuela established four strategic associations to exploit these resources, later converting them to mixed companies with majority PdVSA ownership.

Venezuela 183

Venezuela 2012 Argentina Oil 183

Green Car Congress

JULY 1, 2013

Technip was awarded a “significant” contract to supply its proprietary technology as well as engineering and procurement services for two hydrogen reformers in Venezuela. These 135-million standard cubic feet per day (151-thousand normal cubic meters per hour) reformers are part of the Deep Conversion project being executed by the consortium for Venezuela’s state oil company, Petroleos de Venezuela SA (PDVSA), to upgrade the Puerto La Cruz refinery.

Venezuela 160

Venezuela 2013 Oil Conversion 160

Green Car Congress

JUNE 6, 2019

Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Nevertheless, total production is expected to reach nearly four million barrels per day (mbd) by 2030—nearly one million more than today, according to a new 10-year production forecast by business information provider IHS Markit. IHS Markit expects average year-on-year supply additions to be below 100,000 barrels per day (b/d) in the coming decade.

Oil-Sands 160

Oil-Sands 2019 Venezuela Oil 160

Green Car Congress

MARCH 17, 2013

PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco—the area with the largest untapped hydrocarbon reserves in the world, according to Eni. The block is located around 550 kilometers south east of Caracas and covers an area of approximately 425 square kilometers.

Venezuela 189

Venezuela 2013 Angola Oil 189

Green Car Congress

DECEMBER 9, 2011

Rosneft, the leader of Russia’s petroleum industry and majority owned (75.6%) by the state, and PDVSA, Venezuela’s state-owned oil and gas company, have signed a tentative memorandum of understanding (MoU) to set up a joint venture to develop heavy crude oil reserves in Venezuela as part of the Carabobo-2 project. After gaining all the required approvals from the Government and the National Assembly of Venezuela, Rosneft will extend a market rate $1.5

Venezuela 160

Venezuela 2011 Oil Russia 160

Green Car Reports

DECEMBER 23, 2013

Until you see what our counterparts in Venezuela are paying for gas--with the nation''s subsidies, drivers pay a nominal 5 cents per gallon If you have friends in Europe, you might have heard them complaining of gas prices topping $8 per gallon. It''s certainly enough to make you feel better about the average $3.60 a gallon drivers pay in the U.S.

Venezuela 75

Venezuela 2013 Europe Price 75

Green Car Congress

JUNE 26, 2022

For that reason, crude oil production that is offline in Iran, Libya, Venezuela, and now Russia, is excluded from surplus capacity estimates.

Oil 229

Oil Libya Russia Venezuela 229

Green Car Congress

JUNE 4, 2013

Venezuela’s PDVSA signed a $4.0-billion, 8-year loan agreement with China Development Bank (CDB) for boosting production at the Sinovensa heavy oil joint venture in the Orinoco belt from 140,000 barrels per day to 330,000 barrels per day by 2016. Venezuela will also receive two other loans from China: one for $1.5 China and Venezuela are developing Orinoco blocks Junin 1, 4 and 8; Boyaca 4 and MP3.

2013 168

2013 Venezuela Oil 2009 168

Green Car Congress

JULY 3, 2013

Rosneft’s President and Chairman of the Management Board Igor Sechin and Venezuelan Oil Minister and PDVSA President Rafael Ramirez, in the presence of the President Vladimir Putin, signed a cooperation agreement for implementation of offshore projects in Venezuela. RIA Novosti quoted President Putin as saying Venezuela and Russia have huge potential for joint investment projects, especially in energy.

2013 160

2013 Venezuela Russia Gas 160

Green Car Congress

SEPTEMBER 18, 2013

China National Petroleum Corporation (CNPC) and Venezuela’s PDVSA (Petróleos de Venezuela SA) will invest about $14 billion to develop the Junin 10 block in the Orinoco extra heavy oil belt in Venezuela, according to a tweet sent out by Rafael Ramirez, the Venezuelan petroleum minister. In June 2012, Petróleos de Venezuela, SA (PDVSA) began drilling the first well in the Junin 10 block in cluster JA-16.

2013 176

2013 Venezuela Oil 2007 176

Green Car Congress

JULY 24, 2012

The Venezuelan national petroleum company Petróleos de Venezuela, S.A. According to Oil and Gas Journal (OGJ), Venezuela had 211 billion barrels of proven oil reserves in 2011, the second largest the world. billion barrels in 2010, due to the the inclusion of the massive reserves of extra-heavy oil in Venezuela’s Orinoco belt.

2012 194

2012 Venezuela Oil 2010 194

Green Car Congress

OCTOBER 11, 2013

The Venezuelan state oil company, Petroleos de Venezuela, SA (PdVSA), has signed agreements with two major Indian energy companies, Reliance and OVL, for work in Venezuela’s Orinoco heavy oil belt. OVL currently has stakes in two producing projects in Venezuela; Petro-Carabobo and Petro-Indovenezolana with investments of about US$341 million.

2013 198

2013 Venezuela India Oil 198

Green Car Congress

JANUARY 1, 2010

Venezuela state-owned PDVSA and Italy-based Eni are finalizing a planned 60:40 joint venture to produce heavy crude oil in Junin Block 5 in the Orinoco Oil Belt in Venezuela in 2014. Venezuela contains billions of barrels in extra-heavy crude oil and bitumen deposits, most in the Orinoco Belt in central Venezuela. In 2009, Venezuela produced about 600,000 barrels per day in joint ventures in the Orinoco Oil Belt.

2010 168

2010 Venezuela Saudi Arabia 2009 168

Green Car Congress

AUGUST 24, 2011

Petróleos de Venezuela SA (PDVSA) and PetroChina recently signed the Project for Development and Establishment of a joint venture to realize the future development of the Nanhai refinery. Venezuela has seen significant upward revisions in its proven oil reserves over the past few years due to the inclusion of massive reserves of extra-heavy oil in the Orinoco Belt. According to OPEC figures, then, Venezuela has now surpassed Saudi Arabia in terms of oil reserves (296.5

2011 168

2011 Venezuela Saudi Arabia Oil-Sands 168

Green Car Congress

APRIL 20, 2013

Crude oil imports from the top five foreign suppliers to the United States—which in 2012 were Canada, Saudi Arabia, Mexico, Venezuela, and Iraq, in that order—accounted for almost 72% of total US net crude oil imports, the highest proportion since 1997, according to the US Energy Information Administration (EIA). Venezuela. Venezuela’s state oil company sent more crude to US refineries, which exported more gasoline and other petroleum products back to Venezuela.

2013 218

2013 Iraq Saudi Arabia Venezuela 218

Green Car Congress

NOVEMBER 27, 2013

The Venezuela Minister of Petroleum and President of the state-owned company PDVSA, Rafael Ramirez, and a delegation of Eni, composed of the members of the board of directors and led by the Chief Executive Paolo Scaroni and the President Giuseppe Recchi, inaugurated the first pipeline to evacuate oil from the Junin-5 field, located on the Orinoco oil belt. Eni has been present in Venezuela since 1998.

2013 183

2013 Venezuela Oil Gas 183

Green Car Congress

MARCH 28, 2012

The amount of crude oil the United States imported from its top five foreign suppliers—Canada, Saudi Arabia, Mexico, Venezuela, and Nigeria—increased slightly during 2011, even though total US crude oil imports fell to their lowest level in 12 years, according to the US Energy Information Administration. Canada, Saudi Arabia, Mexico, Venezuela, and Nigeria have consistently been America’s five largest crude oil suppliers, although their rankings varied from year to year.

2012 193

2012 Saudi Arabia Venezuela 2011 193

Green Car Congress

APRIL 10, 2015

With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Venezuela’s Woes. Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Therefore, it would be in Venezuela''s interests to reduce its production levels especially after the Iran nuclear deal.

2015 183

2015 Saudi Arabia Venezuela Iran 183

Green Car Reports

DECEMBER 23, 2013

Today on Green Car Reports: We look at what could raise fuel efficiency in the next Ford F-150 pickup truck, we run down electric motorcycle options this year, and cheer the passing of Venezuela''s soon-to-vanish gas price: 5 cents per gallon. All this and more on Green Car Reports. After an incident in which faulty garage wiring may have caused a

2013 81

2013 Venezuela Green Cars Electric Motorcycles 81

Green Car Congress

SEPTEMBER 19, 2013

an indirect, wholly-owned subsidiary of Petróleos de Venezuela, S.A. PDVSA), the national oil company of the Bolivarian Republic of Venezuela. Houston-based CITGO Petroleum Corp. CITGO) has agreed to pay a $737,000 civil penalty and to implement projects to reduce harmful air pollution, resolving alleged violations of the Clean Air Act (CAA) at its petroleum refining facilities located in Lemont, Ill. and Lake Charles (Westlake), La.

2013 168

2013 Venezuela Pollution Houston 168

Green Car Congress

MAY 27, 2022

Glencore also admitted to bribery of officials in Brazil and Venezuela. In Venezuela, Glencore admitted to conspiring to secure improper business advantages by paying over $1.2 Glencore International pled guilty in the Southern District of New York to violations of the Foreign Corrupt Practices Act (FCPA). In addition, as part of a separate resolution, Glencore Ltd., pled guilty in the District of Connecticut to a commodity price manipulation conspiracy.

Equatorial Guinea 176

Equatorial Guinea Nigeria Los Angeles Cameroon 176

Green Car Congress

OCTOBER 26, 2017

The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S. Venezuela. The unfolding implosion of Venezuela almost ensures that more of the country’s oil production will erode, perhaps at a quickening pace.

2017 163

2017 Oil Prices Oil Libya 163

Green Car Congress

MARCH 6, 2018

In Venezuela, oil production has fallen by more than half in the past 20 years, and declines are set to accelerate. Sharply falling production in Venezuela will offset gains in Iraq, resulting in OPEC crude oil capacity growth of just 750,000 barrels a day by 2023.

2018 195

2018 Brazil Norway Oil 195

Green Car Congress

JULY 30, 2019

OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues. The collapse of Venezuela and Mexico and Iran’s retreat prevailed over increases in Saudi Arabia and Iraq, reducing the weight of medium sour crude oil for the first time below 40%, with impacts on price differentials and refining.

2019 160

2019 Oil 2018 Saudi Arabia 160

Green Car Congress

AUGUST 20, 2019

The process can extract hydrogen from existing oil sands reservoirs, with huge existing supplies found in Canada and Venezuela. Canadian researchers have developed a large-scale economical method to extract hydrogen from oil sands (natural bitumen) and oil fields. This can be used to power hydrogen-powered vehicles, which are already marketed in some countries, as well as to generate electricity.

Oil-Sands 295

Oil-Sands 2019 Oil Hydrogen 295

Green Car Congress

NOVEMBER 16, 2015

Petroleos de Venezuela (PDVSA). State-owned oil companies are retaining their dominant position in the world petroleum industry according to Energy Intelligence ’s annual ranking of the world’s top 50 oil and gas companies, which was published today in Petroleum Intelligence Weekly (PIW). It is the only ranking system that compares private sector firms with national oil companies.

2015 182

2015 Saudi Arabia Oil Venezuela 182

Green Car Congress

MARCH 8, 2014

Petroleos de Venezuela, S.A. PDVSA) is moving forward with a series of new heavy oil developments in the Orinoco Oil Belt that will allow a significant increase in production, while requiring the development of massive new infrastructure, Ruben Figuera, director of new developments in the Orinoco Oil Belt, told delegates to the World Heavy Oil Congress 2014 in New Orleans.

2014 207

2014 Oil Venezuela Production 207

Green Car Congress

FEBRUARY 25, 2016

Then we have Venezuela, where production costs hover just over $23 per barrel on average, but where disaster is imminent. For Venezuela, the breakeven point is particularly elusive because the country’s oil is very heavy and very dirty —and thus very expensive to extract and refine. Venezuela is already on its knees. by Charles Kennedy for Oilprice.com. This is a financial cold war—nothing more, nothing less.

2016 210

2016 Oil Saudi Arabia Venezuela 210

Green Car Congress

NOVEMBER 19, 2014

Ford Explorer is built in North America at Chicago Assembly Plant, as well as in Venezuela and now, Russia. The new 2016 Ford Explorer SUV is making its global debut today at Los Angeles Auto Show with a new available 2.3-liter EcoBoost four-cylinder engine that delivers more horsepower and torque than the 2.0L EcoBoost four-cylinder it replaces, with no compromise in fuel economy anticipated. New 2.3-liter EcoBoost delivers more power and torque than the outgoing 2.0L

2014 213

2014 2016 Fuel Economy Economy 213

Green Car Reports

SEPTEMBER 7, 2010

But you may wish you were in Caracas, Venezuela, where enormous government subsidies cut the price to a ridiculous 6 cents per gallon. What did you pay for gasoline the last time you filled up? If you're in the U.S., probably about $2.70 per gallon. Yep, six pennies. And you may thank your stars you're not in Asmara, Eritrea, where taxes

Eritrea 66

Eritrea Venezuela 2010 Tax 66

Green Car Congress

MARCH 26, 2014

Because production levels from Iran, Libya, and Sudan and South Sudan dropped since 2011, China replaced the lost shares of crude oil and other liquids imports from these countries with imports from Oman, Iraq, the United Arab Emirates, Angola, Venezuela, and Russia.

2014 219

2014 United Arab Emirates Sudan Saudi Arabia 219

Green Car Congress

MARCH 30, 2016

crude oil is Venezuela. In early February, Venezuela’s state-run oil company PDVSA imported a 550,000-barrel cargo of West Texas Intermediate (WTI) through its U.S.-based Venezuela started importing foreign crudes in 2014 amid a fall in its own production—buying mostly Angolan and Nigerian light grades. by Charles Kennedy of Oilprice.com.

2016 163

2016 Oil Venezuela Chevron 163

Green Car Congress

NOVEMBER 2, 2020

The Gas Exporting Countries Forum is an international governmental organization of 20 Member Countries—Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, Venezuela, Angola, Azerbaijan, Iraq, Kazakhstan, Malaysia, Norway, Oman, Peru, and the United Arab Emirates—which jointly control 71% of the proven gas reserves, 45% of its marketed production, 53% of pipeline, and 60% of LNG exports across the globe.

2020 160

2020 Turkmenistan Equatorial Guinea Gas 160

Teslarati

MAY 5, 2022

“Many in our state have experienced censorship and other tyrannical behavior firsthand in Cuba and Venezuela. Florida Governor Ron DeSantis discouraged Twitter from establishing a headquarters in Florida — despite supporting Elon Musk’s Twitter takeover.

Florida 65

Florida Jacksonville Cuba Venezuela 65

Green Car Congress

DECEMBER 11, 2013

Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola. The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 million barrels per day (mb/d), on stronger-than-expected third-quarter demand growth among OECD countries of 320 kb/d.

2013 190

2013 United Arab Emirates 2014 Angola 190

Green Car Congress

NOVEMBER 28, 2012

Canada is the largest supplier of foreign oil to the United States, followed by Saudi Arabia, Mexico, and Venezuela. US imports of Canadian crude oil rose to record levels during the first eight months of 2012, with Canada accounting for a growing share of total gross US imports, according to the US Energy Information Administration (EIA). The United States is importing more crude oil from Canada, even though the total amount of crude oil America buys from foreign suppliers is falling.

2012 194

2012 Saudi Arabia 2011 Venezuela 194

Teslarati

MAY 25, 2022

In Venezuela, Glencore paid $1.2 Tesla and General Motors material supplier Glencore and Glencore Ltd. pled guilty to several violations to the Foreign Corrupt Practices Act in relation to bribery and commodity and price manipulation. Glencore agreed to pay over $1.1

Venezuela 76

Venezuela Congo Brazil Switzerland 76