Experts in the News

A U.S. ban on Russian oil imports has brought renewed interest in Venezuela's bountiful reserves. But when assessing how much oil Venezuela is actually producing, “we should be much more conservative if Maduro is the [president] in place,” Latin American said energy fellow Francisco. "The outlook isn’t immediately rosy for Venezuela’s [energy] sector."

If the U.S. cuts imports of Russian oil, Venezuela could make up some of the shortfall, said Latin America energy fellow Francisco Monaldi. .

What does Venezuela's government do when sanctions leave no cash for supplies? Barter crude for food and other essentials — with allegedly criminal results. Sanctions are “making Venezuela's oil trade increasingly opaque,” said fellow Francisco Monaldi.

A new Chinese tax threatens to leave Venezuela without a market to sell its oil products. “The impact (of the tax) will be catastrophic because we are talking about (nearly) all the Venezuelan oil that is being exported,” said Latin American energy fellow Francisco Monaldi.

Pemex is racking up millions of dollars in late payments to oil companies as it struggles to generate cash amid skyrocketing debt and weaker crude sales. The situation adds to the “risks of partnering with Pemex,” said Latin America energy fellow Francisco Monaldi.