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The US intervention in Venezuela may jeopardize both the flow of discounted Venezuelan oil to China's teapot refineries and the role of Chinese oil companies in Venezuela’s upstream business.
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As OPEC prepares to meet this week, representatives say there is little mystery about the outcome of the gathering: Any coordinated action on cuts is unlikely. Instead, the major questions are likely to concern Khalid al-Falih, Saudi Arabia’s new energy minister.
Luisa Palacios, the former chairwoman of Citgo Petroleum, discussed what guarantees oil companies need before making big investments.
Venezuela was supposed to repay its loans from China with oil. âThe US blockade on Venezuelaâs crude industry means that Beijing wonât see any that oil it is owed â at least for the time being.
La industria petrolera ha estado en el corazón de la economía venezolana durante un siglo. Sin embargo, en la actualidad requiere fondos millonarios para recuperar su capacidad de producción, luego de décadas de desinversión.
The US intervention in Venezuela may jeopardize both the flow of discounted Venezuelan oil to China's teapot refineries and the role of Chinese oil companies in Venezuela’s upstream business.
In discussing the dramatic seizure of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, over the weekend, President Donald Trump declared that the United States would now “take back” the country’s oil. Yet he has offered little clarity on what exactly this means.
The country could see a relatively rapid recovery of some oil production, depending on the leadership that emerges.
