Orinoco Insights
We help clients find opportunities and manage their risks on Venezuelan assets, both onshore and offshore.
We provide instant, exclusive news; reports with unrivalled analysis; and the ability to contact experts throughout the week.
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This product was originally targeted to bondholders. However, we have expanded our scope and now clients include funds, investment banks, oil companies and other investors.
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News and insights
Articles on Venezuela’s politics, economy, and energy.
Taking a close look at Venezuela’s special economic zones
What are the incentives that Venezuelan SEZs have to offer, what are the main challenges, and what are the first projects that the government can present?
Venezuela presents budget for 2025
On Tuesday, Vice President Delcy Rodriguez presented a $22.7 billion national budget for 2025 at the National Assembly.
Venezuela quietly launches mass privatisation programme
Venezuela would be discreetly launching a mass privatisation programme, according to various sources who claim to have information on the matter.
Delcy Rodriguez and Hector Obregon outline PDVSA plan for 2025
On Wednesday, Venezuela’s Vice President Delcy Rodriguez and PDVSA CEO Hector Obregon outlined plans for the sector at the Oil Chamber’s 2024 conference.
Alex Saab proposes import substitution and boosting exports
Minister of Industry Alex Saab said that Venezuela should pursue a policy of import substitution, and also aim to be a leading exporter in the region.
UNDP upgrades 2024 growth for Venezuela to 6.1%
The United Nations Development Programme has upgraded its growth forecast for Venezuela this year, in its Second Quarter report published on 7 October.
Trinidad ConocoPhillips ruling may not affect Venezuela natural gas projects
A court in Trinidad and Tobago approved sending PDVSA payments from the island nation to ConocoPhillips, to cover the $1.33bn claim against the Venezuelan state-owned oil company.
Venezuela’s Nicolas Maduro and Delcy Rodriguez meet Repsol, fears that oil output may stagnate
On 23 September, Venezuela’s President Nicolas Maduro and Vice President Delcy Rodriguez held a meeting with Repsol executives, with the backdrop of tense relations between Madrid and Caracas.
Maduro reshuffles trade and foreign exchange administrations
On 19 September, Venezuelan president Nicolas Maduro announced changes in the administrations relating to trade and ports, as he spoke to the Productive Economy Council.
Delcy Rodriguez announces financial reforms
On 29 August Venezuelan Vice President Delcy Rodriguez announced reforms to encourage growth in the financial sector.
New measures include reducing reserve requirements, allowing hard currency transactions between Venezuelan banks, and notes issued by the finance ministry.
Venezuela’s CB announces 8.78% growth, contrasting with independent estimates
On 29 August, the Central Bank of Venezuela said that the national economy grew by 8.8% in the second quarter of this year, and 8.4% in the first quarter.
Venezuela faces a period of turmoil after a contested election result
Early on Monday morning, the head of Venezuela’s National Electoral Council Elvis Amoroso sparked an international backlash by declaring President Nicolás Maduro as the winner of Sunday’s election.
Venezuela oil output continues to grow in June
Venezuela’s crude oil production continued to increase in June, according to the latest OPEC report released on Wednesday. Output has been on a trend of slow yet sustained growth for two years.
US-Venezuela talks bring hope for election
On Wednesday, delegations from the governments of Venezuela and the US met virtually to discuss the election this month, as well as other issues.
UNDP forecasts 4.2% growth for Venezuela
On 28 June, the United Nations Development Programme released its forecast of 4.2% economic growth for Venezuela.
Colombia’s Ecopetrol to import Venezuelan gas from 2025
Speaking at the Andesco business association conference, Ecopetrol CEO Ricardo Roa presented a 10-year plan to ensure a stable natural gas supply for Colombia, which includes imports from Venezuela from 2025.
Venezuela-US oil trade continues to grow
The US Energy Information Administration shows that Venezuelan oil exports have increased this year, reaching 180,000 barrels per day in March. That month, the South American country rose to become the sixth source of crude imports in the US, and seventh for all oil products.
Venezuela’s long and winding debt restructuring road
Many people think Venezuelan debt is a lost cause, a game only to be played by rinky-dink hedge funds. After all, the bonds have been in default since 2017 — a longer period in limbo than even Argentina suffered after its 2001 default.
BP and Trinidad receive OFAC license for new Venezuela project
Trinidad and Tobago received a “specific license” from the US Treasury’s OFAC to develop a new gas project in Cocuina-Manakin field. The offshore reservoir is shared between the island nation and Venezuela and involves BP and Trinidad’s National Gas Company.
Tellechea Projects 1.3 Mb/d for 2024
On Friday, Oil Minister Rafael Tellechea presented data and projections from PDVSA at Fedeindustria’s yearly event. Tellechea, who is also president of the state-owned oil company, said that production is finally expected to exceed 1.2 million barrels per day this year.