& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Maduro says Venezuelan oil will not be stopped


By Argus

Petroleumworld 02 11 2019

Venezuela´s oil trade will not be thwarted by US sanctions, a defiant Nicolas Maduro told reporters in Caracas today.

"Our oil tankers won't be blocked," he said. "No one will block our oil. Venezuela always will have market options."

US sanctions on Venezuela´s state-owned PdV have already disrupted the flow of Venezuelan crude into the US market, which had been taking around 500,000 b/d before the sanctions were announced by Washington on 28 January. US sales of diluent to Venezuela have also stopped, impacting Venezuela´s heavy sour production. PdV is now casting a wide net to place its crude cargoes and secure alternative products supply .

Maduro is facing a political challenge from Juan Guaidó, the head of the National Assembly whom most Western countries now view as the country´s legitimate president.

In today´s press conference at the presidential palace, Maduro dismissed Guaido's interim presidency as illegitimate, and vowed that anyone named by him to a post in PdV or its US refining subsidiary Citgo would immediately face Venezuelan justice.

Guaidó has already named ambassadors to many countries that recognize his executive authority, and talk of oil appointments has been in the air for the past week.

Maduro confirmed that the rubber-stamp National Constituent Assembly (ANC) would soon call early elections for the opposition-controlled National Assembly, which many countries deem to be the last democratically elected institution left in Venezuela.

ANC president Diosdado Cabello yesterday said the only detail missing "is the date." The government-controlled supreme court and electoral authority (CNE) would quickly ratify an ANC call for early legislative elections.

In an ominous step, the high court ruled today that a transition government statute approved by the National Assembly is illegal.

The US, Canada and most of Latin America are demanding that Maduro step down and allow in humanitarian aid now piling up in the Colombian border city of Cucutá.

Maduro called the aid a "cheap show" designed to justify a military intervention, and pledged to block it from entering. "If they really want to help us they would lift the sanctions so we can buy food ourselves," he said.

Venezuela "won't accept humanitarian aid" under any circumstances, Maduro said. "We are not beggars."

Venezuelan national guard troops in Tachira state this week blocked the Cucutá border crossing highway with trucks and steel containers and posted guards to prevent aid cargoes from entering Venezuela.

Maduro accused the US government of seeking to destabilize Venezuela, comparing the situation to Iraq and Syria.

The US administration has not ruled out a military option in Venezuela. But the Pentagon says its planning is limited to protecting the lives of US diplomats and personnel inside Venezuela, and warns that the armed forces in that country remain loyal to Maduro.

In a significant development today, Venezuela´s parallel supreme court in exile that backs Guaidó issued a ruling that petitions "the international community to support the opening of a humanitarian aid channel through diplomatic or any other means, including a military coalition on a peace mission", paving a legal path for possible intervention.

Guaidó and his international supporters reject the plan for new assembly elections and proposals for dialogue as ploys by Maduro to stay in power.

They have encountered resistance from Mexico and Uruguay that are pushing for talks. A new EU-led contact group met yesterday in Montevideo and agreed to send a technical mission to Venezuela and meet again in early March.

Russia, China, Bolivia, Cuba, Nicaragua and several Caribbean countries recognize Maduro as president.


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.



Story from Argus Media.

argusmedia.com 02 08 2019

Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher: Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld   / Elio Ohep - All rights reserved



This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.