México

Guyana

Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

US sanctions on PDVSA aim for regime change in Venezuela


 

By Brian Scheid / Platts

WASHINGTON
Petroleumworld 02 25 2019

US Vice President Mike Pence is scheduled to visit Colombia on Monday to bolster the Trump administration's push for regime change in Venezuela as US sanctions on state-owned oil company PDVSA enter their fifth week.

While in Bogota, Pence will "state plainly that the time has come for [Venezuelan President] Nicolas Maduro to step aside," the White House said in a statement Thursday.

Pence's visit comes as Maduro has ordered Venezuela's border with Brazil closed, the latest attempt to block aid deliveries he has said are attempts to destabilize his government.

The US and other countries have recognized opposition leader Juan Guaido as Venezuela's legitimate president.

Here's a look at the sanctions the Trump administration imposed to accelerate regime change:

  • On January 28, the US Treasury Department unveils sweeping sanctions on PDVSA, setting an immediate ban on US exports of diluent to Venezuela and requiring payments made to PDVSA to be through blocked accounts, setting up a de facto ban on US imports of Venezuela crude.

  • On February 1, Treasury announced that transactions between non-US firms and PDVSA which involve the US financial system or US commodity brokers would be prohibited after April 28.

  • PDVSA crude oil production, which averaged an estimated 1.6 million b/d in January, is expected to fall below 800,000 b/d in January due to the loss of US diluent imports.

  • Venezuelan oil production is expected to fall to 500,000 b/d by the end of the year due to US sanctions, according to Elliott Abrams, the US Department of State's special representative for Venezuela.

  • Exports of MTBE and other gasoline additives to Venezuela must be wound down by February 27, a prohibition likely to exacerbate a gasoline shortage there.

  • PDVSA-owned Citgo assets in the US, which include refineries in Louisiana, Texas and Illinois and three pipeline systems, will be allowed to continue to operate, at least for three months, although revenues also will be required to be held in blocked accounts.

  • Last week, Treasury formally blocked Venezuelan oil minister Manuel Quevedo from the US financial system.


________________________


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 by Brian Scheid from Platts / SPGlobal.

- newsdesk@spglobal.com

spglobal.com
02 22
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


 

TOP

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 reservedThis 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.