Orinoco Insights
We help clients find opportunities and manage their risks on Venezuelan assets, both onshore and offshore.
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News and insights
Articles on Venezuela’s politics, economy, and energy.
What is happening with Venezuela’s oil licenses?
In an interview with Efecto Cocuyo, Francisco Palmieri said that 20 to 50 oil and gas companies have submitted bids for a specific license to operate in Venezuela.
Understanding Venezuela’s tourism rebound
Venezuela already starts with an advantage with its natural endowments. It has the longest Caribbean coastline with hundreds of islands, white-sand beaches, keys, and natural swimming pools. A varied range of natural reserves cover rainforests, mountains, savannahs, and even a desert—and of course, the famous Angel Falls in Canaima. The country can also draw on its culture, like its rich musical tradition, as attractions.
The OFAC’s new licenses regime for Venezuela
On May 6th, the OFAC approved Maurel et Prom’s specific license in relation to its Petroregional del Lago joint venture, in Lake Maracaibo. The Paris-based company submitted its bid back on September 1st, 2023 before General License 44 was introduced.
Maduro announces subsidies increase
This article has been edited from its original version, after it was confirmed that the minimum wage is not increasing, but subsidies are rising by USD 30.
Mapping Venezuela’s Oil Industry
At Orinoco Research, we start to evaluate the following fields: Boscan, Tomoporo, Furrial, and Bolivar Coastal, as well as the Orinoco Oil Belt and the Paraguana Refining Complex.
OFAC announces GL44A and specific licenses
The OFAC will replace General License 44 with GL 44A, which will last until 31 May this year. GL44 allowed for the purchase of Venezuelan oil and gas.
BP Seeking Natural Gas Opportunities In Trinidad-Venezuela Waters
BP president for Trinidad and Tobago, Sir David Campbell met with Trinidadian energy minister Stuart Young and Venezuelan oil minister Rafael Tellechea.
Elections on July 28th
On Tuesday, the Venezuelan electoral authority, the CNE, announced that elections will take place on July 28th. The CNE board approved the electoral roadmap unanimously.
Maduro Meets Guyanese President And Makes Election Announcements
On Friday, Venezuelan president Nicolas Maduro landed in Saint Vincent and the Grenadines for the summit of the Community of Latin American and Caribbean States (CELAC).
Sanctions Uncertainty Limiting Venezuelan Crude Exports To U.S.
The threat of renewed sanctions and unclear guidance from the White House would be limiting flows of Venezuelan oil into the U.S. market, according to traders.
Essequibo: Military build-up at the border?
The Center for Strategic and International Studies published a report on February 9th arguing that Venezuela is building up troop numbers along its border with Guyana. The report was published just days after ExxonMobil announced it would increase its drilling in contested waters; the Venezuelan Ministry of Defence said it would respond to what it said was a “provocation”.
Sanctions Again? U.S. Set To Revoke Venezuela Oil License
The OFAC reimposed sanctions on the gold sector, and is threatening to do the same with oil and gas in April, unless U.S. government demands are met.
U.S. “Wildcat Entrepreneurs” To Invest In Venezuelan Oil
A group of wildcat entrepreneurs visited Venezuela this week, aiming to revamp the country’s run-down oil sector, according to a source present in the meetings.
What is Venezuela’s short-term oil production capacity?
Report with exclusive insights from industry experts on the ground.