The elected president of Venezuela Edmundo González Urrutia had to flee to Spain and is currently in exile in that country after the regime issued an arrest warrant against him for subversion. González Urrutia obtained 67% of the votes in the election day of July 28, against 30% for Nicolás Maduro with 83.5% of the votes verified with published tally sheets, winning in all states (source: resultadosconvzla.com). We reject the arrest warrant, and the fraud intended by the National Electoral Council – CNE of Venezuela, proclaiming Nicolás Maduro as president-elect for a new presidential term and its ratification by the Supreme Court of Justice-TSJ, both without showing the voting minutes or any other support.  EnergiesNet ” Latin America & Caribbean web portal with news and information on Energy, Oil, Gas, Renewables, Engineering, Technology, and Environment.– Contact : Elio Ohep, editor at  EnergiesNet@gmail.com +584142763041-   The elected president of Venezuela Edmundo González Urrutia had to flee to Spain and is currently in exile in that country after the regime issued an arrest warrant against him for subversion. González Urrutia obtained 67% of the votes in the election day of July 28, against 30% for Nicolás Maduro with 83.5% of the votes verified with published tally sheets, winning in all states (source: resultadosconvzla.com). We reject the arrest warrant, and the fraud intended by the National Electoral Council – CNE of Venezuela, proclaiming Nicolás Maduro as president-elect for a new presidential term and its ratification by the Supreme Court of Justice-TSJ, both without showing the voting minutes or any other support.
10/14 Closing Prices / revised 10/15/2024 08:30 GMT | 10/14 OPEC Basket  $77.18 –$1.25 cents | 10/14 Mexico Basket (MME)  $68.73 –$ 1.60 cents 08/31 Venezuela Basket (Merey)  $62 15   +$1.66 cents  10/14 NYMEX Light Sweet Crude $73.83 -$1.73 cents | 10/14 ICE Brent Sept $77.46 -$1.58 cents | 10/14 Gasoline RBOB NYC Harbor $2.11 -2% | 10/14 Heating oil NY Harbor  $2.27 -3% | 10/14 NYMEX Natural Gas $2.49 -5.2% | 10/11 Active U.S. Rig Count (Oil & Gas)  586 +1 | 10/15 USD/MXN Mexican Peso19.3870 (data live) 10/15 EUR/USD  1.0906 (data live) | 10/15 US/Bs. (Bolivar)  $37.88800000 (data BCV) | Source: WTRG/MSN/Bloomberg/MarketWatch

Venezuela’s PDVSA signs spot sale contracts, demands prepayment – Reuters

PDVSA, headquaters in La Campina, Caracas. (Juan Barreto/AFP)
PDVSA, headquaters in La Campina, Caracas. (Juan Barreto/AFP)

Marianna Parraga, Reuters

HOUSTON
Energiesnet.com 10 26 2023

Venezuela’s PDVSA has signed at least two new spot contracts to export fuel oil and asphalt cement, demanding prepayment in euros from customers, according to company documents seen by Reuters on Wednesday, as the state-run oil company begins to turn to cash sales after the U.S. eased sanctions.

The U.S. last week issued a license allowing the OPEC member to freely export crude oil, fuel and natural gas to its chosen markets in the next six months, the widest easing of sanctions decided since Washington first imposed the measures in 2019.

PDVSA has since contacted its traditional customers seeking to reactivate some of its unexpired supply contracts, while negotiating prompt sales on the open market under a prepayment condition to catch much-needed cash.

Sources last week said global commodities trader Trafigura was looking to charter at least one large tanker to export Venezuelan fuel oil.

In the two contracts, both with United Arab Emirates-based firms, PDVSA demands prepayment in order to authorize the cargo loadings, according to the documents.

The state company has this year tried to switch most of its supply deals to prepayment following an anti-corruption probe that found billion of dollars in unpaid oil cargoes.

The sanction easing is not expected to trigger a significant oil output increase in Venezuela, but PDVSA is moving to take advantage of the license’s short validity to secure cashflow.

One of the contracts signed since last week is for the sale of 1 million barrels of fuel oil with up to 1.9% of sulphur content in November to UAE-based shipping firm Asia Charm LTD. The fuel cargo, for Asia delivery, was negotiated at a fixed price of $41 per barrel.

The second deal, with Dubai-based firm Tradeco International DMCC, is for 70,000 barrels of asphalt cement for delivery this week at the Amuay port, in a contract indexed to high-sulphur fuel oil prices from the U.S. Gulf Coast minus $22.5 per barrel.

PDVSA did not reply to a request for comment. Asia Charm and Tradeco could not be immediately reached for comment.

U.S. officials have warned that if conditions for a fair presidential election are not met by President Nicolas Maduro’s administration, the sanction easing could be reversed.

Reporting by Marianna Parraga Editing by Marguerita Choy

reuters.com 10 25 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.