Business News Venezuela

  • San Jose, California- based Adobe Inc, whose products like Photoshop and InDesign are widely used by designers, illustrators and digital marketers, said on Monday it was "deactivating all accounts in Venezuela" to comply with the sanctions, which are part of Washington's effort to oust socialist President Nicolas Maduro. Adobe said its software will stop...

  • San Jose, California- based Adobe Inc, whose products like Photoshop and InDesign are widely used by designers, illustrators and digital marketers, said on Monday it was "deactivating all accounts in Venezuela" to comply with the sanctions, which are part of Washington's effort to oust socialist President Nicolas Maduro. Adobe said its software will stop...

  • HOUSTON, Oct 8- Citgo Petroleum Corp this week named a former BP lawyer to take on the company's top legal job as it faces creditors seeking to seize shares in the U.S.-based refiner over parent PDVSA's debts. Jack Lynch, who spent 18 years working for BP in Houston, London and Cleveland, Ohio, was named vice president of legal and government affairs, according to...

  • A South Korean importer paid more than $12 million in shipping costs for one crude shipment from the U.S. Gulf Coast. The United States in late September imposed sanctions on two units of China's COSCO for their alleged involvement in bringing crude oil from Iran. U.S. Gulf Coast exporters, in turn, have held back from chartering COSCO-linked vessels.

  • *Turnaround specialist Clive Vacher named new CEO. Oct 7- De La Rue has appointed turnaround specialist Clive Vacher as chief executive as the banknote and passport maker contends with a series of setbacks. De La Rue's share price has more than halved since the profit warning, with the company also taking a one-off hit for non-payment from Venezuela and an...

  • CARACAS, Oct 5- Venezuelan authorities have arrested the president and two other officials in a corruption investigation at state oil company PDVSA's Sinovensa joint venture with China National Petroleum Corp, oil sector and intelligence sources said on Saturday. Blended crude grades are widely sought in Asian markets, where PDVSA is increasingly sending...

  • HAVANA/ MEXICO CITY, Oct 4- A flotilla of shipments from Venezuela gave Cuba some respite this week from crippling fuel shortages in the wake of tougher U.S. sanctions, while Russia's prime minister pledged during a visit to the island on Friday to help develop its energy sector. In response to the shortages, Cuba swiftly deepened austerity measures it had...

  • LONDON/ HOUSTON, Oct 4- Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, putting new pressure on the U.S. sanctioned country and on global crude freight rates. Washington has imposed several rounds of sanctions on Venezuela this year to oust socialist...

  • HOUSTON, Oct 4- Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to four people familiar with the matter, placing new pressure on the U.S. sanctioned country and on global crude freight rates. The largest publicly-traded oil producer's contract clause would affect about 250 tankers, two of the...

  • EXXON MOBIL BANS USE OF VESSELS LINKED TO OIL FLOWS FROM VENEZUELA IN THE LAST YEAR- SOURCES.

  • HAVANA/ MOSCOW, Oct 3- Russian Prime Minister Dmitry Medvedev lambasted the Trump administration on Thursday for trying to create a "toxic atmosphere" around Cuba, during a two-day trip to the island demonstrating Russia's support for its Communist government. While Russia's support for Cuba is insignificant compared to the role the Soviet Union once played,...

  • Moscow has sought to renew its commercial, military and political ties with Cuba in recent years, as part of a broader strategy to expand its presence in Latin America as a counterweight to China and the United States. Russia's support for Cuba is insignificant compared to the role the Soviet Union once played, but analysts said it is still very welcome as the...

  • Oct 2- The Dutch Caribbean island of Aruba will require Venezuelans to obtain a visa to visit, its government said on Wednesday, adding to the nations that have tightened entry restrictions on the crisis-hit country because of mass emigration. The visa requirement will not apply to Venezuelans that already hold visas for the United States, Canada, United...

  • MOSCOW, Oct 2- Iran's oil minister sought to defuse tensions with Saudi Arabia on Wednesday, calling his counterpart in Riyadh "a friend" and saying Tehran was committed to stability in the region. Iran and Saudi Arabia have repeatedly clashed at OPEC meetings over output policies, and tensions between the two countries flared after Saudi Arabia blamed Iran for...

  • FUJAIRAH, United Arab Emirates, Oct 1- Nigeria will make cuts to its crude oil output to comply with OPEC output targets, Mele Kolo Kyari of the Nigerian National Petroleum Company said on Tuesday. The OPEC quota on crude production only, not on condensate, so it doesnt affect the condensate, "he told reporters at a conference in Fujairah in the United Arab Emirates.

  • CARACAS, Sept 30- Venezuela wants to reopen contacts with foreign bondholders after a two-year hiatus to renegotiate some $60 billion of foreign debt, President Nicolas Maduro said on Monday, but investors gave short shrift to the suggestion. "I want to meet them here or anywhere in the world that we need to go, except the United States, I don't want to go the United...

  • CARACAS, Sept 30- Venezuela wants to reopen contacts with foreign bondholders after a two-year hiatus to renegotiate some $60 billion of foreign debt, President Nicolas Maduro said on Monday. "I want to meet them here or anywhere in the world that we need to go, except the United States, I don't want to go the United States any more for now." President Donald Trump calls...

  • LONDON, Sept 30- The following table shows crude oil output by the Organization of the Petroleum Exporting Countries in millions of barrels per day in September and August, according to a Reuters survey published on Monday. OPEC, Russia and other non-members- an alliance known as OPEC+- agreed in December to reduce supply by 1.2 million bpd in 2019. OPEC's share of...

  • HOUSTON/ CALGARY, Alberta, Sept 27- Shipments of Canadian crude from the U.S. Gulf Coast since May have more than doubled all of 2018' s exports as Asian refiners scramble for heavy sour oil, according to vessel-tracking data, traders and industry sources. Thirty-two cargoes with a combined 16 million barrels of Canadian crude loaded in the U.S. Gulf Coast from May...

  • HAVANA, Sept 26- A Florida resident is suing Amazon for marketing charcoal produced on land he says Cuba confiscated from his grandfather after the 1959 revolution, the latest in a recent slew of lawsuits regarding the island piling up in U.S. courts. The lawsuit was filed in Florida on Thursday, the day after another was filed accusing American Airlines and the...