Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Tellechea"


18 mentions found


Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. U.S. sanctions that were in place on Venezuela since 2019 largely blocked state-run oil company PDVSA from exporting to its chosen markets. That changed last week, but Washington's six-month relaxation of the measures is too limited to spur new crude production. PDVSA also is in talks with Mercuria Energy and Sahara Energy on spot sales, the sources said. The Italian company and Spain's Repsol (REP.MC) have been in negotiations with PDVSA for months to expand gas output in Venezuela.
Persons: Carlos Garcia Rawlins, Trafigura, PDVSA, Pedro Tellechea, Tipco, Spain's, Eni, Maurel, prepay, Marianna Parraga, Laura Sanicola Organizations: REUTERS, Rights, Global, PDVSA, Bermuda, Mercuria Energy, Sahara Energy, U.S ., Reliance Industries, Valero Energy, PBF Energy, Eni, Valero, Reliance, U.S . Treasury Department, Traders, Thomson Locations: Caracas, Venezuela, U.S, Venezuela's, Sahara, PDVSA's, Houston, Washington
A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The U.S. on Wednesday lifted most restrictions on Venezuela for six months for producing, selling and exporting oil to its chosen markets. But it is not expected to significantly boost Venezuela's deteriorated oil production or immediately lead to stronger exports. Venezuela can now receive direct payments for goods or services under the license issued by OFAC, which oversees American sanctions. PDVSA and Venezuela's oil ministry did not immediately reply to requests for comment.
Persons: Ivan Alvarado, PDVSA, Washington, Pedro Tellechea, Francisco Monaldi, Rice, Nicolas Maduro's, Monaldi, Maduro, Spain's, Joe Biden's, Marianna Parraga, Will Dunham, Marguerita Choy Organizations: REUTERS, Rights, U.S, Treasury's, Foreign Assets, Oil, OFAC, Washington, Chevron, Baker Institute, Venezuelan, Citgo Petroleum, Valero Energy, PBF Energy, India's Reliance Industries, Nayara Energy, Eni, Thomson Locations: Caracas, Venezuela, Venezuelan, U.S, Asia, PDVSA, United States, American, CHINA, EUROPE, China, India, PetroChina, Houston, Maduro, Washington
[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. Energy trade, debt repayment and new financing likely are the main focus of the Sept. 8-14 visit, officials and sources said. Beijing's decision to host Maduro coincides with a G20 summit in New Delhi this weekend, which Chinese President Xi Jinping will not attend. In 2020, the Maduro administration and Chinese banks again agreed to a grace period on some $19 billion of Chinese debt, according to Reuters reporting. Despite sanctions on Venezuela, China imported around 390,000 barrels per day of crude from the country between January and August this year, totalling roughly 12.9 million metric tons, data from commodities consultancy Vortexa showed.
Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Han Zheng, Wang Yi, hegemonism, Han, Pedro Tellechea, Tellechea, Xi Jinping, Maduro, Hugo Chavez's, Joe Biden's, PDVSA, CNPC, Donald Trump, Andrew Hayley, Liz Lee, Joe Cash, Vivian Seuqera, Mayela, Marianna Parraga, Christopher Cushing, Frances Kerry, Marguerita Choy Organizations: REUTERS, Rights, West, Energy, China National Petroleum Corp, Venezuelan, Venezuelan Oil, Shanghai International Energy Exchange, Shanghai Petroleum, Natural Gas Exchange, South, Shanghai, Mayela Armas, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, CARACAS, China, OPEC, Beijing, Shanghai, Asia, New Delhi, Malaysia, South American, Houston
REUTERS/Jonathan Bachman/File PhotoHOUSTON, July 21 (Reuters) - A U.S. court set Oct. 23 as the start date for a long-expected auction of shares in Venezuela-owned refiner Citgo Petroleum's parent to pay creditors with judgments against the South American nation. U.S. Judge Leonard Stark in Delaware this week accepted a recommendation by a court official in charge of organizing the auction. Proceeds from any sale of PDV Holding shares would be used to pay off creditors previously cleared by the court. Any sale of Citgo without the participation of Venezuela would be "hurtful," Pedro Tellechea, Venezuela's oil minister, said on Friday. "It's not a PDVSA asset.
Persons: Jonathan Bachman, Judge Leonard Stark, PDV, Pedro Tellechea, Horacio Medina, Stark, Venezuela's, Hugo Chavez, PDVSA, Marianna Parraga, Gary McWilliams, Richard Chang, Grant McCool Organizations: Citgo Petroleum, REUTERS, South, Petróleos, PDV, U.S . Treasury Department, PDVSA, Crystallex, ConocoPhillips, Siemens Energy, Tree Investments, Inc, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, Thomson Locations: U.S, Stowell , Texas, Venezuela, South American, PDV, Delaware
CARACAS, July 21 (Reuters) - Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions. Most of the South American country's gas reserves remain undeveloped after decades of insufficient investment, contract changes and - in recent years - U.S. sanctions to oust President Nicolas Maduro. But new officials running the oil ministry and PDVSA want to encourage new investment and unfreeze projects. Oil major Shell Plc (SHEL.L), which produces in Trinidad, could operate the Dragon gas field in Venezuela if Maduro's government extends it a license, Trinidad officials have said. Venezuela is producing 831,000 barrels of crude per day (bpd) this month and expects to increase to 1 million bpd by year-end.
Persons: Pedro Tellechea, Nicolas Maduro, Tellechea, Spain's, Maurel, Deisy Buitrago, Mayela Armas, Vivian Sequera, Marianna Parraga, Alison Williams Organizations: Eni, Shell, Thomson Locations: CARACAS, Caracas, United States, Trinidad and Tobago, Venezuela, Trinidad, China
CARACAS, July 21 (Reuters) - Venezuela is not willing to halt productive operations during contract audits that have led to the arrest of businessmen and officials, and to disputes with customers and partners of state company PDVSA, the country's oil minister said on Friday. Earlier this year, contracts with some crude oil buyers were also temporarily suspended while PDVSA reviewed billions of dollars of late payments and pending invoices. "Our goal is to explore, produce, refine and export every product we can," Oil Minister Pedro Tellechea told journalists on the sidelines of a conference in Caracas. Investigations related to the review of unpaid bills have been transferred to the office of Venezuela's General Attorney, Tellechea said. Tellechea also said the country does not currently have suspended contracts, but did not elaborate on the status of exports.
Persons: Wilmer Ruperti, Pedro Tellechea, Tellechea, Maroil, PDVSA, Deisy Buitrago, Mayela Armas, Vivian Sequera, Marianna Parraga, Sharon Singleton Organizations: Oil, Investigations, Reuters, Thomson Locations: CARACAS, Venezuela, PDVSA, Geneva, Caracas, France, China
The report by PDVSA's maritime branch, entitled "Critical deficiencies and risks of PDV Marina's tanker fleet," said years of deferred maintenance had left the entire fleet with "low levels of reliability," at risk of spills, sinking, fires, collisions or flooding. The report, dated March 2023, was among eight documents shared with Reuters describing the state of PDVSA's tanker fleet from the oil company's corporate office, trading division and maritime branch, as well as Venezuela's maritime authority. Five of PDVSA's tankers are at least 30 years old, past their recommended lifespan, according to the PDV Marina report. "The tanker fleet is showing a decline in the quality of its operations due to advanced physical deterioration, which implies higher maintenance and repair costs. Planning for sending the tankers to dry docks has been very affected by lack of payment to shipyards and providers," the PDV Marina report said.
HOUSTON/PUNTO FIJO, Venezuela, April 4 (Reuters) - Venezuela's oil exports rose in March to the highest monthly average since August, boosted by a resumption of loadings after an export freeze and by rising cargoes assigned to Chevron Corp (CVX.N), according to documents and shipping data. State oil company PDVSA has reinstated two export contracts after a January freeze by new boss Pedro Tellechea: a medium-term contract with Hangzhou Energy, and another with Portugal-based Adinius Sociedade de Servicios, the documents showed. Oil swap deals with Chevron, Cuba's state company Cubametales and Iran's Naftiran Intertrade Co (NICO) - and most exports of oil byproducts - have continued flowing without interruption during the freeze. Chevron received and exported about 115,000 bpd of Venezuelan heavy crude to the U.S., an increase from about 80,000 bpd in February. Oil exports averaged 774,420 bpd in March, the highest since August, as state company PDVSA reinstated supply contracts that allowed it to ship more crude and fuel in supertankers.
Venezuelan oil resumed flowing to the U.S. in January under a Treasury Department license granted to Chevron that allowed it to expand output there and export the oil. Refiners including Valero and Phillips 66 (PSX.N) have bought cargoes from Chevron, according to U.S. Customs and shipping data. Chevron's license - and approvals granted to European firms Eni (ENI.MI) and Repsol (REP.MC) - allow only for oil or debt swaps. Chevron's resumption of Venezuelan crude imports has not led to an increase in the country's overall exports this year, according to PDVSA schedules and Refinitiv Eikon data. 2 U.S. oil company exported some 86,000 barrels per day of Venezuelan oil in February.
CARACAS, March 27 (Reuters) - Venezuela's President Nicolas Maduro suspended a committee he had appointed to restructure state oil firm PDVSA under the supervision of Tareck El Aissami, the oil minister who resigned last week amid an expanding anti-corruption probe into the company and the judiciary. The probe has led to 10 officials and 11 businessmen being arrested and 11 more wanted. PDVSA President Pedro Tellechea was appointed as the new oil minister last week, giving him wide control of the industry. Maduro said last week a new restructuring process must begin in PDVSA, formally known as Petróleos de Venezuela, S.A., to audit its accounts and uncover corruption. PDVSA's restructuring commission was created to adopt urgent measures to "protect the industry from imperialist aggression."
CARACAS, March 25 (Reuters) - An expanding anti-corruption probe in Venezuela has led to the detention of 10 officials and 11 businessmen, the country's attorney general said on Saturday, adding that arrest warrants for 11 more people have been issued. The investigation, which began in October, is focused on state oil company PDVSA, a government entity supervising crypto currency operations, and the judiciary. This week, it led to the resignation of the country's powerful oil minister, Tareck El Aissami, who had served the government for two decades. The 21 people arrested face accusations of appropriation of public assets, money laundering, influence peddling and criminal association. Officials involved could also face charges of treason, the attorney general said.
He was replaced by Pedro Rafael Tellechea, who had been named to head PDVSA in January. Maduro said that his government was committed to "going to the root" of corruption, calling the probe which began last year "professional, scientific and disciplined." The Finance Ministry, the central bank, and PDVSA did not respond to requests for comment. It is unclear whether the corruption probe and contract review will concretely improve PDVSA's cash flows in the near future. PDVSA last year delayed cash payments in dollars to several of its suppliers because of dwindling income.
REUTERS/Leonardo Fernandez Viloria/File PhotoCARACAS, March 21 (Reuters) - Venezuelan President Nicolas Maduro on Tuesday named the head of state oil company PDVSA, Pedro Rafael Tellechea, as the new oil minister, a day after his predecessor resigned amid an extensive corruption investigation focused on the company. Former minister Tareck El Aissami resigned on Monday after the arrest of several government officials and judges in connection with graft investigations. Sources with knowledge of the issue said more than 20 lower-level PDVSA officials have also been detained over recent days. Tellechea has been head of PDVSA since January and ordered an audit into heavy losses suffered last year as tankers left the country without proper payments being made for cargo. It is not the first time the government has promised a crackdown on alleged PDVSA corruption.
HOUSTON, March 21 (Reuters) - Venezuela's state-run oil company PDVSA has accumulated $21.2 billion in accounts receivable, according to documents viewed by Reuters, after turning to dozens of little known intermediaries three years ago to export its oil under U.S. sanctions. The scale of the receivables explains a January freeze on supply contracts by PDVSA's new boss Pedro Tellechea, who sought to halt unpaid cargoes immediately after taking office. A series of attempts to tighten contract terms came after some vessels absconded without payment in recent years. PDVSA and Venezuela's oil ministry did not immediately reply to a request for comment. Reporting by Marianna Parraga; Editing by Gary McWilliams and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
[1/5] A Venezuelan flag next to some flags of Venezuela's state oil company PDVSA is pictured near the company's headquarters, in Caracas, Venezuela March 20, 2023. REUTERS/Leonardo Fernandez ViloriaCARACAS, March 20 (Reuters) - Venezuela's President Nicolas Maduro on Monday accepted the resignation of the country's powerful oil minister following the detention of at least six high level officials amid a corruption probe focused on state-run company PDVSA and the judiciary. Arresting government officials for corruption is rare in Venezuela, a country that rights groups such as Transparency International have described as opaque. The sources also said that at least 20 lower level officials at PDVSA have been arrested in recent days. The arrests are the largest recent crackdown on alleged PDVSA corruption.
[1/2] An oil tanker is docked while oil is pumped into it at the ships terminal of PDVSA's Jose Antonio Anzoategui industrial complex in the state of Anzoategui April 15, 2015. It reinforces measures implemented last year after several buyers skipped out on payments for oil, which provides most of the South American country's income. After taking the helm, Tellechea launched an extensive audit of supply contracts, according to a written order to PDVSA seen by Reuters. The new terms narrow a wide variety of contract modalities to a few requiring prepayment of cargoes entirely in cash or allowing payment via goods and services to Venezuela, but they must be received before Venezuela will release the oil, according to the documents. Even long-term buyers must abide by the new rules that require payment in full by cash before each oil delivery.
HOUSTON, Jan 17 (Reuters) - The new head Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them, according to an internal document seen by Reuters and two people familiar with the matter. The freeze is leading to port delays, as vessels that were loading have been sent away and are waiting for new directions, the people said. Cargoes chartered by U.S. oil firm Chevron Corp (CVX.N) and Cuba's Cubametales have not been affected by the contract revision, according to separate documents and the sources. As of Jan. 17, most berths at Venezuela's main oil terminal, Jose port, were empty after vessels were moved away while awaiting further directions. Venezuela's oil exports last year declined 2.5% to 616,540 barrels per day due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.
Venezuelan president names new head of PDVSA, foreign minister
  + stars: | 2023-01-06 | by ( ) www.reuters.com   time to read: +2 min
CARACAS, Jan 6 (Reuters) - Venezuelan President Nicolas Maduro on Friday named Pedro Rafael Tellechea as the new head of state oil company Petroleos de Venezuela (PDVSA) (PDVSA.UL) and said Yvan Gil Pinto would become the new foreign minister. Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some PDVSA partners to resume taking Venezuelan crude. Former head of PDVSA Asdrubal Chavez, a cousin of late President Hugo Chavez and former oil minister, will soon have new responsibilities, Maduro added. In a separate tweet, Maduro named Gil Pinto to head the country's diplomacy. "It's a great responsibility I'm sure he will perform with great professionalism," Maduro said about Gil Pinto, who had been serving as vice-minister for Europe.
Total: 18