While not officially taking over Chevron’s assets, Chinese companies like China Concord Petroleum and Anhui Guangda Mining ...

After reaching a high of $81/bbl on Jan. 15, the spot price of WTI crude fell sharply in April to below $60/bbl, the lowest ...

The deals are part of President Nicolás Maduro’s plan to replace Western oil companies after US sanctions ended their ...

Chevron's license allowing it to produce and export crude to the US ended in early April and the company was allowed until ...

Venezuela’s oil exports have stayed almost the same recently, even though the country is under strong sanctions from the ...

Venezuela's oil sector now relies heavily on China. The country uses intermediaries and shadow shipping networks to move oil, often disguising its origin to avoid sanctions. This new trade pattern ...

The Trump administration is quietly negotiating a high-stakes deal with the Nicolás Maduro regime to allow Chevron to continue exporting Venezuelan oil to the U.S. in exchange for Caracas accepting ...

The Venezuelan oil industry also suffered from an estimated ... The CNPC halted direct crude imports from Venezuela in 2019 over threats of secondary sanctions. China is the top destination for ...

Reuters reported that the loading of crude oil at Venezuela’s main ports slowed down, while all oil shipments to China have been suspended. Indian firm Reliance Industries said it would halt ...

Russia's oil industry could benefit from President ... Venezuelan oil is more important to China than any other country. Venezuela produced 921,000 barrels of crude oil per day in 2024, according ...

The U.S. announcement that Washington will impose a 25% tariff on any country that purchases Venezuelan oil or gas has quickly made commercial dealings with Venezuela’s oil industry a highly ...

But despite the authorizations, China has remained the main destination of Venezuela's oil. The following is a list of licenses and authorizations linked to Venezuela's energy sector granted by ...