A key meeting between Latin American oil producers and exporters planned to unify the region in backing an output freeze or other measures to bolster prices, has been postponed due to scheduling difficulties.
Venezuela's state-run firm PDVSA faces around $5.2b in payments to bondholders in 2016, a sum that some experts say it will be hard-pressed to meet after the government used nearly all of its available cash reserves ...
Russia's top oil producer Rosneft and Venezuela's state oil company PDVSA signed an agreement to set up a joint venture to develop natural gas. Rosneft also plans to invest $500m to raise its stake in its Petromonaga ...
Saudi Arabia and Russia said they would halt oil production as long as other major producers followed suit. Saudi Arabia, Qatar, Kuwait, and Venezuela, all OPEC members joined them in the production freeze.
Venezuela and Saudi Arabia held talks about mutual cooperation between OPEC members to stabilize the global oil market currently flooded with a surplus of 2mb/d.
Venezuela has made four formal proposals to OPEC and non-OPEC states - Russia, Saudi Arabia, Iran and OPEC Head - in an attempt to summon a joint emergency meeting to tackle the continuously declining oil prices and ...
In the wake of Venezuela's call for an emergency OPEC meeting, Iran’s Oil Minister, Bijan Zanganeh, said that such a meeting would hurt the crude oil market, unless it reached a decision to shore up falling prices.
Venezuela's state oil company, PDVSA, has halted the export of natural gas to Colombia due to weather factors, the Colombian Mines and Energy Ministry announced.
Sources told Reuters that Saudi Arabia sees no need to hold a summit for oil producing countries' over oil prices if such discussions would fail to produce any concrete resolution of the outlying issue.