Здравствуйте. Вся информация этого сайта бесплатна без рекламы. Вы можете сделать пожертвование и поддержать развитие этого сайта. Спасибо.

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2017-09-04 12:10:00

U.S. - RUSSIA BLOCK IN VENEZUELA

U.S. - RUSSIA BLOCK IN VENEZUELA

WSJ - The Trump administration is ready to block a Russian state-owned oil giant from gaining control of critical energy assets in the U.S. owned by Venezuela, senior American officials say, a move that likely would feed tensions between Washington and Moscow.

Petróleos de Venezuela SA offered Russia's PAO Rosneft nearly half of the shares of its U.S.-based subsidiary Citgo Petroleum Corp. as collateral for $1.5 billion in loans the Russian firm made in 2016 to help prop up cash-starved PdVSA and its owner, the Venezuelan government.

The planned move comes after some U.S. lawmakers, worried the Russian oil company could gain a controlling interest in a company that represents roughly 5% of U.S. crude-oil refining capacity, urged the Trump administration in June to use powers granted under national security laws to prevent the deal from happening.

Rosneft sees the potential for its Citgo deal in the U.S. souring and has tried to line up new collateral for its loans, say two people familiar with the matter.

Besides arranging interests in major oil-producing operations in Venezuela, President Nicolás Maduro's government has also promised future crude deliveries as collateral and interest payments, the two people said.

Representatives from the Russian Embassy in Washington, Citgo, Rosneft and PdVSA didn't immediately respond to requests for comment.

Russia, a major oil and natural gas producer, has long used its heft in global energy markets to leverage its foreign policy goals. The Kremlin's continued support of Mr. Maduro's government, which the U.S. declared a dictatorship and targeted with escalating sanctions, gives Russian President Vladimir Putin a platform to assert Russian political and economic influence in Latin America.

Washington's plan to stymie Rosneft's claim is a sign the two powers are becoming further entrenched in their struggle for political influence around the globe. By potentially inserting itself between Moscow and Caracas in the Citgo deal, the Trump administration not only would head off a move that could have given Russia economic leverage in the U.S., but it also would prevent the Maduro government from using Venezuela's American assets to bolster its hold on power.

Late last week, Washington moved to keep Caracas from using U.S. financial markets to fund its government, prohibiting Americans from buying or trading new bonds and barring Citgo from sending profits back to Venezuela.

Russia's continued financing of Caracas is helping to keep the Maduro government on life support as the country's economic and political crisis deepens, Venezuela's debts build and its access to U.S. capital markets is constricted.

Given the mounting tensions between Moscow and Washington over a host of issues, the U.S. lawmakers were worried the Kremlin would gain ownership of critical American energy infrastructure if PdVSA defaulted and Rosneft claimed the Citgo collateral.

The latest round of U.S. sanctions against Venezuela targeting the country's debt have raised default risks. PdVSA has about $60 billion in outstanding debt. Citgo's chief assets are three major U.S. refineries, two on the Gulf Coast in Texas and Louisiana and one outside of Chicago—with the capacity to refine 750,000 barrels of crude a day. It also has 48 petroleum storage terminals from Texas to Maine and has ownership in nine pipelines.

But senior U.S. officials say Rosneft, a company blacklisted by the U.S. Treasury for Russia's role in destabilizing Ukraine, wouldn't be allowed to take over Citgo.

"Should Rosneft assume a majority stake, that could trigger a number of legal implications for Citgo in terms of their status," one senior administration official said. "Moreover, that would constitute a change in foreign ownership of Citgo, and we would look at that accordingly."

A second senior U.S. official said Treasury "will ensure that the national security of the U.S. is protected and if it gets to that, I'm sure a very thorough review will be conducted by that panel," referring to the Committee on Foreign Investment in the U.S. The CFIUS panel has broad powers to stop foreign investments based on potential threats to the country's security.

Treasury Secretary Steven Mnuchin, whose department plays a pivotal role on the multiagency panel, has already promised lawmakers that CFIUS would investigate the deal.

Should Russia be "foolish enough to go down that path," a third senior administration official said, Treasury also has powers under its existing sanctions regime against Russia that could also stymie Rosneft's Citgo deal.

The potential for the U.S. to block Rosneft from collecting on its Citgo collateral has prompted Moscow to try to find other sources of collateral for its loans to Caracas. On Tuesday, PdVSA said Eulogio Del Pino, Venezuela's new minister of petroleum and former PdVSA president, explored with Russian Ambassador Vladimir Zemskiy new "co-investment plans" with "several Russian enterprises."

Even if Rosneft sought to collect the Citgo shares or their auctioned value under a default, Russia's oil giant would have to join a queue of other potential creditors. Many U.S. firms, including ConocoPhillips, are trying to lay claim to Citgo assets as compensation in legal battles with Venezuela's state-owned oil company for the nationalization of their assets under the nation's deceased President Hugo Chávez.

Legal analysts say Rosneft would normally have legal recourse through U.S. courts as a creditor, but its designation as a sanctioned entity would be a major complication for the firm.

Russia's involvement with Venezuela comes with financial risks of funding a country on the verge of sovereign default. Moscow also faces the potential for more U.S. punitive actions: Russia's latest deals could put the Kremlin and its energy firms further afoul of U.S. sanctions.

"If they decided to sink in the billions of billions of dollars it would take in Venezuela, that would be a financial decision for them to take and for them to live with the consequences," the second senior U.S. official said.

-----

Earlier:

 U.S.:

     

  RUSSIA:

 

U.S. RIGS DOWN 6 TO 940

U.S. RIGS DOWN 6 TO 940 U.S. RIGS DOWN 6 TO 940 U.S. Rig Count is up 451 rigs from last years count of 489, with oil rigs up 353, gas rigs up 99, and miscellaneous rigs down 1 to 1. Canada Rig Count is up 71 rigs from last years count of 146, with oi ...
2017-08-28
     

SAUDIS - RUSSIA OIL DEAL

SAUDIS - RUSSIA OIL DEAL SAUDIS - RUSSIA OIL DEAL Top oil producers Saudi Arabia and Russia are pushing to extend their deal to limit crude oil production for another three months, which would leave the output deal between OPEC and non-OPEC producers ...
2017-08-31
 

U.S. OIL INVENTORIES DOWN 3.3 MBD

... ES DOWN 3.3 MBD U.S. OIL INVENTORIES DOWN 3.3 MBD US commercial crude oil inventories declined 3.3 million bbl during the week ended Aug. 18 compared with the previous week’s total, continuing a months-long downward trend. US commercial crude oil inv ...
2017-08-24
     

IRAN, RUSSIA,TURKEY COOPERATION

СОТРУДНИЧЕСТВО ИРАНА, РОССИИ И ТУРЦИИ IRAN, RUSSIA,TURKEY COOPERATION Иран, РФ и Турция подписали соглашение по финансированию нефтегазовых проектов Iran, Russia and Turkey signed agreement on maintaining trilateral cooperation in developing oil and ...
2017-08-16
 

U.S. OIL PRODUCTION: 9.35 - 9.91 MBD

... ODUCTION: 9.35 - 9.91 MBD EIA continues to expect US production to rise over the next two years and cross the 10 million b/d threshold in November 2018. It sees output averaging 9.35 million b/d in 2017, up 20,000 b/d from last months outlook, and 9. ...
2017-08-16
     

RUSSIA'S INVESTMENT POTENTIAL

RUSSIAS INVESTMENT POTENTIAL RUSSIAS INVESTMENT POTENTIAL Russia is among the leading energy countries today. We see colossal unrealized potential for cooperation, for investment -- we will continue working on implementing it with all the interested ...
2017-07-12
 

U.S. & RUSSIA: LIMITED IMPACT

U.S. & RUSSIA: LIMITED IMPACT U.S. & RUSSIA: LIMITED IMPACT The U.S. shale boom—which reshaped world markets for crude oil and natural gas before Mr. Trump took office—has only limited impact on Russia’s standing as a major energy provider to Europe ...
2017-07-17
     

RUSSIA: THE TOP

RUSSIA: THE TOP RUSSIA: THE TOP The world’s largest energy consumer increased imports from Russia by about 9.3 percent to 4.69 million metric tons in March from February, according to data released Tuesday by the General Administration of Customs. Th ...
2017-05-02
 

U.S.: THE TOP PRODUCER

U.S.: THE TOP PRODUCER U.S.: THE TOP PRODUCER The United States remained the worlds top producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year despite production declines for both petroleum and natural gas relative to ...
2017-06-08
     

RUSSIA'S OIL SUCCESS

RUSSIAS OIL SUCCESS RUSSIAS OIL SUCCESS For every one dollar reduction in the price of oil, Russiasuffers a staggering two billion dollar loss in its revenue. On top of the economic sanctions slapped on Russiafollowing the annexation of Crimea, one ...
2017-01-13
 

U.S. OIL INVENTORIES DOWN

... S. OIL INVENTORIES DOWN U.S. OIL INVENTORIES DOWN US crude oil inventories fell for an eighth straight week and drawdowns appear to be expanding. US crude oil inventories fell for an eighth straight week and drawdowns appear to be expanding.
2017-06-02
     

IMPORTANT FOR RUSSIA

ВАЖНО ДЛЯ РОССИИ IMPORTANT FOR RUSSIA ВСЕМИРНЫЙ БАНК: С окончанием глобального сырьевого суперцикла, и особенно с резким падением цен на нефть - основной экспортный товар России - российская экономика вошла в рецессию; начался сложный период приспосо ...
2017-01-12
 

U.S. OIL CAPEX UP TO 72%

U.S. OIL CAPEX UP TO 72% U.S. OIL CAPEX UP TO 72% A group of 44 U.S. onshore-focused oil producers issued a record amount of equity in 2016. In the fourth quarter of 2016, capital expenditure for these companies was $4.9 billion (72%) higher than in ...
2017-03-30
     

THE HOPE OF RUSSIA'S ECONOMY

НАДЕЖДА РОССИЙСКОЙ ЭКОНОМИКИ THE HOPE OF RUSSIAS ECONOMY ЦБР закладывал в базовый прогноз среднюю цену на нефть марки Urals в 2016 году на уровне $41 за баррель, и $40 - в 2017, 2018 и 2019 годах. Оптимистичный сценарий предполагает постепенный рост ...
2016-12-06
       

 VENEZUELA:

     
 

U.S. - VENEZUELA SANCTIONS

U.S. - VENEZUELA SANCTIONS U.S. - VENEZUELA SANCTIONS U.S. - The Trump administration imposed new sanctions prohibiting trading new debt and equity issued by the Venezuelan government and state oil company PDVSA. U.S. - The Trump administration impos ...
2017-08-28
     
 

IRAN & VENEZUELA: STRATEGIC PARTNERS

IRAN & VENEZUELA: STRATEGIC PARTNERS IRAN & VENEZUELA: STRATEGIC PARTNERS Over the course of the past year, Iran and Venezuela had very close stances and we were supportive of each other in many instances, said the Iranian official. Over the course o ...
2017-02-08
     
 

VENEZUELA AGAINST CORRUPTION

VENEZUELA AGAINST CORRUPTION VENEZUELA AGAINST CORRUPTION Venezuelas president on Sunday created an executive vice president post and named new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company and an effort to ...
2017-01-30
     
 

VENEZUELA WILL CUT 95 TBD

VENEZUELA WILL CUT 95 TBD VENEZUELA WILL CUT 95 TBD Venezuela said on Tuesday it will cut 95,000 barrels-per-day of oil production in the New Year in fulfilment of a producers deal to reduce global output and strengthen prices. Venezuela said on Tues ...
2016-12-28
     
 

VENEZUELA & CHINA: $50 BLN

VENEZUELA & CHINA: $50 BLN VENEZUELA & CHINA: $50 BLN Venezuela has borrowed over $50 billion from China under a financing arrangement created by late socialist leader Hugo Chavez in 2007, in which a portion of its crude and fuel sales to the worlds ...
2016-11-18
     
 

VENEZUELA NEED MONEY

VENEZUELA NEED MONEY VENEZUELA NEED MONEY Venezuela and state oil company PDVSA face heavy debt payments this year amid weak oil markets and continuing decay of its socialist economic model. Neither have been able to borrow in recent years because th ...
2016-07-27
     

 

 

Tags: U.S., RUSSIA, VENEZUELA, OIL

Chronicle:

U.S. - RUSSIA BLOCK IN VENEZUELA
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

U.S. - RUSSIA BLOCK IN VENEZUELA
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

U.S. - RUSSIA BLOCK IN VENEZUELA
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

U.S. - RUSSIA BLOCK IN VENEZUELA
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00