Spanish energy company Repsol and Venezuelan state-owned PDVSA have signed an agreement aimed at increasing oil production at their joint venture, Petroquiriquire.

A unit of Reliance Industries has begun loading 2 million barrels of Venezuelan crude oil, directly purchased from PDVSA, after securing a US general license in February 2026.

The United States has issued a broad authorization for transactions involving Venezuela's state oil company, PDVSA, signaling a potential shift in sanctions policy.

Venezuela's state oil company PDVSA announced agreements to supply crude oil and fuels to the American market, stating the deal aims to contribute to the 'stability of the international energy market'.

Spanish oil company Repsol has reached an agreement with the Venezuelan government and PDVSA to significantly increase its crude oil production in Venezuela. The company aims to boost output by 50% within 12 months from its current 45,000 barrels per day.

Venezuela's state oil company PDVSA has ratified Asdrubal Chavez as the head of its US units, including Citgo.

Venezuela is preparing to grant oil fields to Chevron to boost production, with Chevron also set to swap assets with PDVSA for expansion in the Orinoco Belt.

Bonds for Venezuela and its state oil company PDVSA saw a significant jump in value following the US decision to waive certain sanctions.

Colombia reports that Venezuela's state oil company PDVSA intends to terminate its pipeline contract with Colombian counterpart Ecopetrol.