Free Republic

Venezuela’s Cardón refinery — the country’s second-largest plant — was fully halted on Tuesday after a gas-line fire and explosions at its diesel hydrotreater. The blaze was brought under control in under an hour with no reported injuries, but PDVSA has not issued a damage assessment or restart timeline. The outage hits an already fragile domestic fuel system far more than U.S. supply. Cardón (sometimes rendered Cardon; the query’s “Ardon” matches this plant, not neighboring Amuay) sits at Punto Fijo in Falcón state and is half of the Paraguaná Refining Center. A social-media video posted by OSINTtechnical showed a large...

Chevron Corp. (CVX) and other U.S. energy companies are reportedly moving closer to deals that could bring billions of dollars of investment into Venezuela's oil fields. While Chevron is nearing an agreement to expand its operations in the country, Halliburton Co. (HAL) is reportedly in talks to provide equipment to Venezuelan oil producers, as the Trump administration pushes U.S. companies to help build the nation's oil industry. Chevron, Halliburton Eye Venezuela Opportunities Chevron could add two heavy-oil fields to its Venezuelan portfolio under the potential agreement, The Wall Street Journal reported, citing people familiar with the matter. The oil major...

Refiners in the United States are stocking up on heavy crude, pushing prices higher, as the Trump administration prepares to slam more punitive measures on Caracas after the inauguration of Nicolas Maduro as president of Venezuela for a second term after elections considered illegitimate by Washington. Reuters reports that officials from the presidential administration met with oil industry executives to discuss the measures on the table, including the suspension ofrefined product exports to Venezuela or Venezuelan crude oil imports into the United States. Gulf Coast refiners have a limited choice of supplier when it comes to heavy crude. Besides local...