Category Archives: Maracaibo

“Venezuela: Petroleum, Politics & Economics in the Post-Chavez Era”–My Columbia U. talk, with Luiz Pinto, 9 October

If you’re in New York:  Luiz Pinto and I speak at Columbia University’s Institute for Latin American Studies (ILAS) on post-Chavez Venezuela, 12-noon, Thursday, 9 October: ilas_venezuela_columbia_talk_09oct14

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Last week, I was quoted in the Wall Street Journal on why Petróleos de Venezuela SA (PDVSA) is looking to sell its Citgo refining affiliate in the USA. The key motivation, in my estimation, is to finance projects critical to … Continue reading

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AQ Follow-up | Caracas & Maracaibo: Venezuela’s Private Sector Anxious to Invest if PDVSA Builds Confidence

Americas Quarterly today carries a followup that to my 29 August piece on Post-Chavez changes at PDVSA.

Drilling rig (PDVSA)

Drilling rig (PDVSA)

NOTE:  During the past couple weeks, while in Maracaibo and Caracas, I was repeatedly told of a new offshore payment mechanism that PDVSA has begun offering to its Joint Venture foreign partners.  Venezuelan private sector leaders took credit  for the general idea. Continue reading

My AS/COA piece: PDVSA Post-Chavez: Will Partnerships with the Private Sector and Chinese Experts Boost PDVSA Oil Production?

PDVSA oil rigs in Venezuela (TalCual)

PDVSA oil rigs in Venezuela (TalCual)

Throughout 2012, and especially after President Hugo Chávez’ death in early March 2013, Venezuela’s national oil firm, Petróleos de Venezuela S.A. (PDVSA), has taken measures beyond anything done in the past decade to raise its lagging production. While the likely impact merits cautious analysis, the drivers of the Bolivarian Republic’s scramble for increased oil revenues are clear.  … Continue reading

Venezuelan Faja Surprise: USA’s Harvest sells not to China but Indonesia

Petrodelta,SA rig in the south of Monagas state, Venezuela (PDVSA 2011 Annual Rept)

In March, U.S.-based Harvest Natural Resources (HNR) had disclosed to shareholders it was in exclusive confidential negotiations with a national oil company (NOC) to sell its 32% stake in Petrodelta SA–a lucrative, mature, medium-heavy Faja oil field in the south of Monagas state, in which PDVSA holds a 60% share.  Thursday evening, Harvest surprised observers by announcing they had signed an agreement with the Indonesian National Oil company, Pertamina.

The big question immediately being asked was: “Indonesia?  Why not China?”  I was quoted at length Friday morning on this question by Bloomberg’s Nathan Crooks in Caracas (See:

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Chávez loses López human rights case. Part A: Venezuelan democracy & political power

Image of Leopoldo López, venezuelan politician...

Leopoldo López, former Mayor of Chacao, Caracas

(Note: this post was expanded and some corrections made 23 Sept.  Also, Part B will treat the “oil angle” – what are the policies of opposition candidates H. Capriles, P. Pérez and L. López as compared to the Chavista policies on PDVSA and on spending the nations’ oil income?)

This past week, the Inter-American Court of Human Rights overturned the administrative disqualification (inhabilitación) of Venezuelan opposition politician Leopoldo López from running as an electoral candidate. (see: decision of the Corte Interamericana de Derechos Humanos,  and press release from Lopez’ organization. )

What might be the effect on the October 2012 election?   In polls till now, Lopez has run third behind top-runner Henry Capriles, his former political ally and governor of Miranda State, and behind Pablo Pérez, the governor of Zulia State. The Chávez administration has been actively shaping who may run for the opposition ever since President Chavez’ first electoral loss, in the December 2007 plebiscite.  This decision is clearly a setback for this policy.

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