Browsing Tag
PDVSA
7 posts
Eni takes control of Venezuela’s 35bn-barrel Junín-5 field under 25-year contract
Eni has become exclusive operator of Venezuela’s Junín-5 under a 25-year production contract, gaining control of a 35 billion-barrel heavy-oil resource currently producing only about 12,000 bpd.
NABEP’s reserve base is enormous, but its $100bn Venezuela plan still has to find the capital
North American Blue Energy Partners is set to control 17 Venezuelan oilfields containing about 65 billion barrels while targeting more than 1 million barrels a day of production. The unprecedented structure gives the U.S. government a 35% equity stake and preferential access to output, but the real commercial test is whether NABEP can finance and execute a proposed $100 billion infrastructure programme across fields that have suffered years of underinvestment.
SLB (NYSE: SLB) Q2 revenue rises 5% as ChampionX offsets Middle East decline
SLB beat Q2 estimates on $8.97B revenue, but ex-ChampionX sales fell 5% as Middle East disruption bit and Data Center Solutions revenue accelerated 63%.
ConocoPhillips Q1 2026 results: COP beats consensus on EPS but trims production guidance as Qatar war exposure forces an outlook reset
ConocoPhillips beat Q1 estimates, then pulled Qatar from guidance. The Iran war just moved from sentiment to balance sheet for COP shareholders.
Maha Capital moves fast on PetroUrdaneta as OFAC authorises US-entity transactions with PdVSA under GL 52
Maha Capital exercises a EUR 4.6m call option for PetroUrdaneta the same day OFAC publishes GL 52, opening Venezuela's oil sector to US entities. Read the analysis.
Gold Reserve files urgent motion over extended OFAC license tied to CITGO bondholder restrictions
Gold Reserve seeks judicial clarity after OFAC’s General License 5S extends bondholder limits on CITGO sale, potentially affecting the PDVH bid process.
CITGO sale hearing moved to August 18 as Gold Reserve pursues PDV Holding bid through Dalinar Energy
U.S. court moves CITGO sale hearing to August 18, 2025, with Gold Reserve and Dalinar Energy still in contention to acquire PDV Holding shares.