Posts filtered by tags: Petroleos de Venezuela[x]


 

Exclusive: Venezuela moves to replace U.S. executives on Citgo board - sources

Citgo is facing unprecedented challenges to its finances and management after the U.S. government last week imposed tough sanctions on Petroleos de Venezuela [PDVSA.UL] designed to prevent oil revenue from going to leftist President Nicolas Maduro. The United States and dozens of other nations have refused to recognize Maduro, viewing his reelection last year to another six-year term as fraudulent.
Tags: Science, United States, Venezuela, Nicolás Maduro, Maduro, Citgo, Petroleos de Venezuela


Investors Trapped as Venezuela Sanctions Halt Bond Trading

Bondholders at nine investment firms and hedge funds from New York, Miami, London and Berlin said they had stopped trading sovereign notes and debt from the state oil giant Petroleos de Venezuela after the U.S. Treasury Department issued instructions they interpreted as forbidding most transactions. Mutual funds and exchange-traded funds that are U.S. persons “may not buy, sell, or otherwise engage in transactions related to debt, equity or other holdings in blocked persons and must block such ...
Tags: News, Berlin, Venezuela, U S Treasury Department, OFAC, The Treasury Department, Petroleos de Venezuela, New York Miami London


Sanctions on Venezuela's oil firm sends U.S. refiners scrambling

The United States on Monday imposed sanctions on Petróleos de Venezuela, S.A., known as PDVSA, to cripple the OPEC member's oil shipments, which account for nearly all of Venezuela's exports, in response to the reelection of socialist President Nicolas Maduro, a vote widely viewed as fraudulent. Washington has recognized opposition leader Juan Guaido as Venezuela's head of state. U.S. refineries that depend on Venezuela's heavy crude are turning to domestic sour crude grades to offset the impa...
Tags: Science, Washington, Opec, United States, Venezuela, Nicolás Maduro, PDVSA, Petroleos de Venezuela, Juan Guaido


Sanctions on Venezuela's oil sends U.S. refiners scrambling

The United States on Monday imposed sanctions on Petróleos de Venezuela, S.A., known as PDVSA, to cripple the OPEC member's oil shipments, which account for nearly all of Venezuela's exports, in response to the reelection of socialist President Nicolas Maduro, a vote widely viewed as fraudulent. Washington has recognized opposition leader Juan Guaido as Venezuela's head of state. U.S. refineries that depend on Venezuela's heavy crude are turning to domestic sour crude grades to offset the impa...
Tags: Science, Washington, Opec, United States, Venezuela, Nicolás Maduro, PDVSA, Petroleos de Venezuela, Juan Guaido


U.S. sanctions threaten Venezuela's economy as Maduro eyes next move

The Trump administration hopes the sanctions, which bar state-owned oil company Petroleos de Venezuela from collecting proceeds from crude sales to U.S. refineries, pressure President Nicolas Maduro to step down and allow opposition leader and self-proclaimed president Juan Guaido to call elections. In a defiant national broadcast on Monday night, Maduro said he would take legal action to challenge the sanctions and defend Citgo Petroleum Corp, PDVSA's U.S. refining subsidiary, which he accused...
Tags: Science, United States, Venezuela, Nicolás Maduro, Trump, Maduro, Petroleos de Venezuela, Juan Guaido, Citgo Petroleum Corp PDVSA


Venezuela's PDVSA in oil deal with firm part-owned by Florida Republican

Venezuelan state oil firm PDVSA [PDVSA.UL] has signed a deal with little-known U.S. energy firm Erepla, partly owned by a prominent Florida Republican, to help increase the socialist-run country's plummeting crude oil output, the company said. Erepla Services LLC, with an undisclosed stake held by Republican Harry Sargeant III and which Delaware state records show was only registered in November, said it plans to invest up to $500 million to increase production at three Venezuelan oil fields in...
Tags: Florida, Science, Venezuela, Delaware, PDVSA, Sargeant, Petroleos de Venezuela, Erepla, Erepla Services LLC, Harry Sargeant III


United States: Split Third Circuit Holds Transfer By Non-Debtor Cannot Be Fraudulent Transfer - Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Refusing to rely on "equitable principles" when interpreting the Delaware Uniform Fraudulent Transfer Act (DUFTA), the Third Circuit (2-1 decision) in Crystallex Int'l Corp. v. Petroleos De Venezuela, S.A, et als.
Tags: News, United States, Third Circuit, Popeo, Mintz Levin Cohn Ferris Glovsky, Petroleos de Venezuela, Crystallex Int l Corp


United States: U.S. Sanctions New Debt And Equity Issuances By Venezuelan Government - Cleary Gottlieb Steen & Hamilton LLP

On August 25, 2017, President Trump issued an Executive Order severely restricting transactions in debt and equity of the Government of Venezuela and of state-owned entities; including Petroleos de Venezuela; S.A. (PdVSA).
Tags: News, United States, Trump, Cleary Gottlieb Steen, Hamilton LLP, Government of Venezuela, Petroleos de Venezuela


United States: New Executive Order Ramps Up Sanctions Against Venezuela And Petroleos De Venezuela S.A. - Holland & Knight

President Donald Trump has issued an Executive Order (the E.O.) imposing additional sanctions with respect to the situation in Venezuela
Tags: News, United States, Holland, Donald Trump, Petroleos de Venezuela