As Venezuela's oil production continues to decline, the Chavez administration has focused on courting international investment to increase production in the Orinoco Belt. Located in the southern ...

Chevron enjoys unusual sway in socialist-led Venezuela, positioning the energy colossus to gain from whatever comes of the ...

Chevron Corporation CVX restarted drilling operations in a pristine field located in Venezuela, marking a significant move to boost production amid challenging geopolitical circumstances. The drilling ...

However, turmoil in Venezuela and its worsening economic situation may hit the Orinoco play. “I would not be surprised if these capital contributions (in heavy oil) fall,” says Jorge Pinon, a research ...

With completion in February of its Orinoco Oil Belt production facilities to handle production of 200,000 b/d of heavy oil, Sincrudos de Oriente Sincor CA is working to complete a heavy oil upgrader ...

The sludge in the glass jar on David Nelson's bookshelf here is thicker than molasses and was once thought worthless. But the Chevron Corporation, whose operations he runs in eastern Venezuela, has ...

Venezuela’s National Assembly has approved the creation of two joint ventures between state-owned Petroleos de Venezuela SA and two consortia of international oil companies for the development of ...

Brazil has its own strain of nationalism, but the sanctity of contract is deeply embedded in the political consensus there. Faced by the emergence of a new South American hydrocarbons heavyweight, ...

Exxon Mobil Corp. will cede control of its Cerro Negro operation in Venezuela's oil-rich Orinoco River basin later this year in order to comply with Venezuelan President Hugo Chavez's decree last week ...

Venezuela is postponing bidding among foreign oil companies for contracts to exploit seven areas within its heavy-oil-producing Orinoco belt. Oil Minister Rafael Ramirez says Venezuela has decided to ...

CARACAS, Venezuela, Feb. 12 (UPI) -- Venezuela on Wednesday awarded oil blocks in its massive Orinoco Belt to two groups led by Chevron and Spain's Repsol YPF, signaling a turnaround by President Hugo ...