The Billion-Dollar Broker Who Managed a Nation's Oil Wealth
Thursday, July 16, 2020
Thursday, July 9, 2020
#PDVSA's ad-hoc board presented a plan to mobilize $99BN in foreign investments to increase #oil production to 3 Mb/d in 8 years. Good luck with that! #OOTT
Venezuela did not have a single oil rig in operation during June – unprecedented in the country's 100+ years of oil history.
Production reached 570 thousand barrels per day (kb/d) in May, the lowest level since the 1940s; preliminary reports for June indicate an even lower figure: 280 kb/d.
Venezuela Sells, But Who's Buying?
Friday, June 26, 2020
US #Sanctions on #Venezuela has left 18MM Barrels Of #Oil Stranded Out At Sea
Estimates based on shipping data, industry sources, and documents of Venezuela's state oil firm PDVSA, show at least 16 tankers with 18 Million Barrels of Oil are idling off the coasts of Africa and Southeast Asia because few potential buyers would risk U.S. sanctions for dealing with the regime of Nicolas Maduro.
See the whole story on ZeroHedge here: https://www.zerohedge.com/energy/18-million-barrels-sanctioned-venezuelan-oil-are-stuck-sea
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