Category Archives: Venezuela diplomacy

Saudi & Russia seek oil deal as OPEC fight v US shale fails [My RTRadio Interview]

economonitor-com-putin_and_prince_g20_sept16

RT Radio-Edinburgh’s Jack Foster interviewed me on the upcoming 30 November OPEC summit where the Saudis hope to set a cap on OPEC and Russian production. Here’s the interview:   Listen from time-stamp 9:00-to-17:30 (Streaming MP3) 

This would  mark the first-ever Russian cooperation with OPEC. However, market realities look bleak for OPEC and Russia whether they reach an agreement or not. The reason is the unprecedented continuing challenge from US shale, which has dramatically cut its costs via tech and operational innovations to stay profitable at low prices. Continue reading

Beijing ups Venezuelan oil investments, but refuses Chavista leaders’ plea for a cash bailout

folha_header_08apr13folha_quote of the day_venez-and-china_08apr13Back in April, Brazil’s Folha de SaoPaulo ran an article entitled: The Future of Venezuela Depends on China and highlighted this quote:  Translation: “If Maduzo wins, he’ll have to regain the confidence of the Chinese.”  TOM O’DONNELL, petroleum consultant

Indeed, it is now clear that the short-term strategy of the post-Chavez Maduro-Cabello administration was to escape the country’s severe dollar crisis: convincing Beijing to extend it a $5 billion cash loan alleviating food-import shortages before 8 December elections.  In particular, the cash was to fund a new dollar exchange system (see El Nacional,25 Sept 2013). Continue reading

I’m cited: “(BN) Chavez Buys Enemy U.S.’s Fuel While Lauding Iran”

Presidents Chavez and Ahmadinejad met in Caracas in January (here) and June 2012

I was cited a number of times yesterday in a Bloomberg News article by Nathan Crooks in Caracas and Paul Burkhardt in NYC.  I reprint it below because the authors’ research further illustrates an issue I’ve often stressed here.

That is: in spite of President Chavez’ rhetoric promising to stand by Presidents Ahmadinejad of Iran (and Assad of Syria, and previously Qaddafi of Libya), he is actually in no position to withstand the U.S. sanctions that could be imposed on Venezuela for aiding Iran. 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:

Continue reading

Iranian National Oil Company & PDVSA Respond to My Exposé?!

A curious announcement in The Tehran Times: “Tehran, Caracas to ink $2 billion oil deal soon” (29 May, web 30 May) followed on the heels of my exposé about this relationship that was published just two weeks prior.  The Tehran Times’ piece was brought to my attention by James Bourne, Senior Latin American Editor at Energy Intelligence NYC, who requested a comment.  Energy Intelligence has kindly provided GlobalBarrel.com a PDF of Bourne’s piece in their subscriber-only Oil Daily of 31 May, which you can read at this link: Continue reading

My Iran-in-Venezuelan-Oil Study: Summarized in “Tal Cual” today in Caracas; in Spanish

For those who read Spanish:  Today Tal Cual in Caracas carried a detailed summary in Spanish by Jose Suárez Núñez of my study, “Bolivarian Venezuela’s Oil Policy & Iran: A Failed Energy Alliance” (which appeared in Middle East Economic Survey’s [MEES] Energy and Geopolitical Risk for May 2012).

Suárez Núñez is the Tal Cual oil columnist, and one of Venezuela´s most senior oil journalists.  Here are the links: Continue reading

Bolivarian Venezuela’s Oil Policy & Iran: A Failed Energy Alliance

My study of Iran in Bolivarian Venezuela’s oil sector is just out in the May 2012 edition of Energy and Geopolitical Risk-published by MEES: Middle East Economic Survey.  You can read it here: Venezuela_Iran_failed_energy_alliance-Geopolitical-Risk-May-2012-3. Continue reading