Compounding the economic pressure, the U.S. also imposed a 25% tariff on countries purchasing Venezuelan oil and gas, part of a broader effort to enforce sanctions on PDVSA, Venezuela’s state ...

After U.S. sanctions forced out Western oil companies in May, Venezuela signed at least nine deals with foreign firms, including major Chinese and Argentine companies. PDVSA’s new partners ...

According to internal PDVSA documents and vessel-tracking data, Venezuela shipped 779,000 bpd of crude and refined products last month—down only slightly from April’s 783,000 bpd.

Venezuela’s state-run oil company, Petroleos de Venezuela (PDVSA), has reportedly signed at least nine new agreements with foreign service providers, including two Chinese companies, to maintain ...

PDVSA will have a stake of at least 50% in whatever crude is produced — the exact percentage varies by block — and the partner company will handle all operations and its share of the oil sales.