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Chinese independent refiners have cut back on fresh purchases of oil from Venezuela after the U.S. eased sanctions on the country.

Washington’s decision to lift sanctions on Caribbean country’s oil sector has improved growth forecasts

(Bloomberg) -- Colombian state oil producer Ecopetrol SA said it is analyzing importing gas from Venezuela starting at the end of next year, following President Gustavo Petro’s visit with Nicolás Maduro in Caracas on Saturday.Most Read from BloombergSam Altman, OpenAI Board Open Talks to Negotiate His Possible ReturnBinance Pleads Guilty, Loses CZ, Pays Fines to End Legal WoesOpenAI in ‘Intense Discussions’ to Quell Potential MutinyCitigroup Cuts Over 300 Senior Manager...

Ecopetrol is analyzing importing gas from Venezuela starting at the end of next year.

Colombias majority state-owned oil company Ecopetrol is exploring an offer from Venezuelas PDVSA to supply the Andean country with gas from December 2024, it said on Tuesday.

Working towards production of 1 million barrels of oil per day in the wake of Washington’s easing of sanctions, Venezuelan Oil Ministry officials said on Wednesday that output had reached 850,000 bpd

Venezuela: Trinidad and Tobagos Prime Minister Keith Rowley on Monday confirmed that the parties were negotiating the license and added that Energy Minister Stuart Young was expected to visit Caracas this week.

The Colombian president said that Venezuela could play a large role in his country’s economic recovery, including through potential joint oil and gas deals.

An imminent deal will enable Shell and NGC to jointly operate the field under a 70%-30% ownership, delivering crucial foreign capital to Venezuela via project revenue.

As of November 17th, Venezuela’s Merey crude sold at $65 per barrel in Mediterranean-bound shipments, and $64 for Asia-bound.