supplies

Caracas, March 4, 2026 (venezuelanalysis.com) – Venezuelan state oil company PDVSA emphasized recent agreements to supply crude to the US market and reiterated its commitment to “global energy market stability” amid spiraling volatility caused by the US-Israel war against Iran.

“PDVSA has signed supply contracts with trading companies that deliver oil and derivatives to US markets, thus maintaining a historic trade relationship to guarantee supply,” the company said in a statement on Tuesday.

PDVSA further reaffirmed its stance as a “reliable provider” that will contribute to the “necessary equilibrium” in global energy markets, and called for an end to sanctions against the Venezuelan oil industry.

The communiqué followed a surge in oil prices as a result of the US and Israeli attacks against Iran. On February 28, Washington and Tel Aviv launched a massive bombing campaign against military and civilian targets in the West Asian country. 

Tehran has responded by striking Israel and US bases in the region, including in several oil-producing Gulf states. Iranian forces have likewise shut down the Strait of Hormuz, a critical passageway for oil shipments.

Though Venezuelan popular movements have firmly condemned the US-Israeli aggression and voiced support for Iran, the government headed by Acting President Delcy Rodríguez has yet to take a position. Rodríguez expressed “solidarity” with Qatar following the deletion of a controversial Foreign Ministry statement over the weekend.

Since its January 3 bombing of Venezuela and kidnapping of President Nicolás Maduro, the Trump administration has imposed control over the Venezuelan oil industry. Commodity traders Vitol and Trafigura have been lifting Venezuelan crude before re-selling to final customers, with proceeds deposited in accounts managed by the US Treasury Department.

After an initial arrangement that saw revenues routed through Qatar, US Energy Secretary Chris Wright announced last week that payment for Venezuelan oil is now going directly to US Treasury accounts. Wright visited Venezuela in February. He was hosted by Rodríguez in the presidential palace and toured oil facilities where US energy giant Chevron owns stakes.

Out of an initial deal estimated at around US $2 billion, US authorities confirmed that $500 million have been sent back to Caracas, to be offered by Venezuelan banks to private sector importers in foreign exchange auctions. US officials have also confirmed imports of medical equipment and supplies from US manufacturers. Secretary of State Marco Rubio had vowed that Venezuelan oil revenues would be used for purchases from US companies.

In recent weeks, the Trump administration has issued licenses allowing the export of inputs and software to the Venezuelan oil industry, as well as waivers allowing select corporations to expand crude extraction activities in the South American country.

However, the licenses mandate that all royalty, tax, and dividend payments to the Venezuelan state be deposited in US-managed accounts. Similarly, Washington mandated that contracts be subject to US jurisdiction. Transactions with companies from China, Russia, Iran, Cuba and North Korea remain banned, while PDVSA continues under financial sanctions.

The selective loosening of restrictions followed a pro-business overhaul of Venezuela’s Hydrocarbon Law. The reform, approved in late January, grants private corporations expanded control over operations and sales, a reduced tax burden, and the possibility for disputes to be taken to external arbitration.

Both Venezuelan and US officials, including Trump himself, have urged Western corporations to invest in the Caribbean nation’s energy sector, but executives have expressed reservations given market conditions. ExxonMobil will reportedly send a team to evaluate prospects for a return to Venezuela in the coming weeks. 

The company had its assets nationalized by the Hugo Chávez government in the 2000s after refusing to accept reforms that reinforced Venezuelan state sovereignty over the industry. ExxonMobil pursued international arbitration but ultimately received an award significantly below its compensation demands.

Despite the oil sector opening to US and European interests, Venezuelan crude exports receded in February, according to Reuters, following the wind-down of shipments to China. In 2025, around three-quarters of Venezuelan crude was destined for Chinese refineries. Washington imposed a naval blockade in December and seized several tankers as part of its efforts to exert control over Venezuelan oil exports. Two Chinese-flagged ships turned around while headed to Venezuela in January.

Crude exports are expected to pick up in March, with shipments scheduled for Indian buyers.

Edited by Lucas Koerner in Fusagasugá, Colombia.

Slovakia had issued a two-day ultimatum to Ukraine to reopen the Soviet-era Druzhba pipeline so that it could receive Russian oil deliveries.

Slovak Prime Minister Robert Fico has said his country will halt emergency electricity supplies to Ukraine until Kyiv reopens a key pipeline transporting Russian oil to Slovakia, making good on an ultimatum he issued to Ukrainian President Volodymyr Zelenskyy.

Fico’s announcement on Monday came two days after he warned Zelenskyy on social media that he would ask state-owned company SEPS to halt emergency supplies of electricity if flows of Russian crude oil via the Soviet-era Druzhba pipeline crossing Ukraine did not resume.

“As of today, if the Ukrainian side turns to Slovakia with a request for assistance in stabilising the Ukrainian energy grid, such assistance will not be provided,” Fico said in a video on his Facebook page.

Ukrainian grid operator Ukrenergo said in a statement that it had not been officially informed yet, but that it would “not affect the situation in the unified power system of Ukraine”.

“The last time Ukraine requested emergency assistance from Slovakia was over a month ago and in a very limited volume,” it said.

Fico said the stoppage would be lifted “as soon as the transit of oil to Slovakia is restored”.

“Otherwise, we will take further reciprocal steps,” he said, adding his country would also reconsider “its previously constructive positions on Ukraine’s EU membership”.

He said the stalled oil supply was a “purely political decision aimed at blackmailing Slovakia over its international positions on the war in Ukraine”.

Slovakia and neighbouring Hungary, which have both remained dependent on Russian oil since the Kremlin launched its invasion of Ukraine almost four years ago, have become increasingly vocal in demanding that Kyiv resume deliveries through the Druzhba pipeline, which was shut down after what Ukraine said was a Russian drone strike hit infrastructure in late January.

Ukraine says it is fixing the damage on the pipeline, which still carries Russian oil over Ukrainian territory to Europe, as fast as it can.

Slovakia and Hungary say Ukraine is to blame for the prolonged outage and have declared emergencies over the cut in oil deliveries.

The EU imposed a ban on most oil imports from Russia in 2022, but the Druzhba pipeline was exempted to give landlocked Central European countries time to find alternative oil supplies.

Meanwhile, the European Union failed to agree on new sanctions on Russia for the fourth anniversary of Europe’s biggest war since World War II, after Hungary vetoed the move.

Hungary’s Prime Minister Viktor Orban – the friendliest EU leader to the Kremlin – is stalling the sanctions and a 90-billion-euro ($106bn) EU loan to Ukraine until Kyiv reopens the oil pipeline.

Fico also said he has refused to “involve the Slovak Republic” in the latest EU loan due to Zelenskyy’s “unacceptable behaviour”, alluding to Ukraine’s earlier halting of Russian gas supplies after a five-year-old transit agreement expired on January 1, 2025, which Fico claimed is costing Slovakia “damages of 500 million [euros; $590m] per year”.

Hungary and Slovakia have accounted for 68 percent of Ukraine’s imported power this month, according to Kyiv-based consultancy ExPro. It was not immediately clear if emergency electricity supplies were included in that figure.

A HOLLYWOOD A-lister stunned locals when he was spotted shopping at a cricket supplies store.

This twice Oscar-winning actor, 69, was seen browsing a store in Australia, with staff at the shop admitting that they “didn’t recognise him” at first.

The star in question is movie megastar, Tom Hanks.

The much-loved actor looked worlds away from his famous film roles as he browsed a cricket shop in Sydney.

The Forrest Gump star looked happy and relaxed as he posed for a photo with the delighted shop staff, who couldn’t believe their eyes.

Tom was dressed casually in just a grey T-shirt and black trousers, and was stood with his son Truman, 29.

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The gob-smacked shop workers shared the picture on Instagram of them with Tom, and penned: “Not your usual walk-in customer…

“We’re used to serving cricket royalty, but yesterday at GCCC North Sydney, we welcomed Hollywood royalty, with Tom Hanks and his son Truman stopping by the store.

“From Baggy Greens to big screens, you never know who’ll walk through the doors at GCCC.”

The shop’s followers went wild for the pic, with one person writing: “How exciting – well done for capturing the moment.

Tom is often spotted out and about with the general public, despite his star status.

Last autumn he was spotted taking a subway train in New York.

He even slipped a few dollars to a street musician before heading off into the crowd.

Tom shot to fame in the 80s and was known for comedies like Big, Splash and Turner & Hooch.

In the 90s he became well known for romantic comedies like Sleepless in Seattle and You’ve Got Mail, both of which he starred alongside Meg Ryan.

However, he went on to win two Oscars when he switched to more serious roles.

Tom won his first Academy Award for Philadelphia in 1994, and then for Forrest Gump the year after.

The star’s other big roles include Saving Private Ryan and Cast Away.

Despite being known as one of the kindest actors in Hollywood, fans will be surprised to hear that Mr Hanks previously admitted to being a diva on set.

He even compared himself to the stroppy character in his 2023 movie The Making of Another Major Motion Picture Masterpiece.

Tom said: “I’ve had my tough days trying to be a professional when my life has been falling apart in more ways than one and the requirement for me that day is to be funny, charming and loving – and it’s the last way I feel.”

Away from the cameras, Tom is happily married to wife Rita Wilson, who he shares his son Truman with.

Feb. 10 (UPI) — Air Canada became the first scheduled airline to withdraw services to Cuba due to shortages of jet fuel as the United States tightened its energy embargo on the Caribbean island.

Canada’s Montreal-headquartered flag-carrier announced Monday it was suspending its 16 weekly flights serving Havana and three other cities, effectively immediately, but said it would send aircraft to bring home 3,000 customers already in Cuba.

“For remaining flights, Air Canada will tanker in extra fuel and make technical stops as necessary to refuel on the return journey, if necessary,” the airline said.

Airlines in Russia, where Cuba is also a top holiday destination, said they had no plans to change their schedules, but Russian media reported at least one Rossiya Airlines flight was canceled with the carrier instead dispatching an empty aircraft to collect Russian tourists.

As many as 4,700 Russians on package holidays were thought to be on the island currently, according to the Association of Tour Operators of Russia.

Spain’s Iberia and Air Europa said flights from Madrid to Havana would now stopover in the Dominican Republic to refuel but would otherwise continue as normal.

American Airlines, Delta Air Lines and Aeromexico said they would continue flying the route, with American telling CNN that the aircraft it used on the route could carry enough fuel for the round trip without refueling.

On Sunday, an international NOTAM system notice confirmed that no A-1 jet fuel, the standard for commercial aviation, would be available at Havana’s Jose Marti International Airport for one month between Tuesday and March 11.

The aviation fuel shortage and its knock-on effect on tourism was the most visible economic casualty of additional measures imposed 10 days ago by U.S. President Donald Trump aimed at shutting off all oil shipments to the island.

Accusing Cuba of harboring terrorist groups, Trump threatened any country supplying oil to Cuba with tariffs in a move principally aimed at Mexico, one of the only remaining points of supply since the United States severed the economic lifeline provided by Venezuela in January.

Venezuela was the source of most of Cuba’s oil imports until the United States’ Jan. 3 military operation to remove President Nicolas Maduro, seize control of the country’s oil and turn off the tap to Cuba.

The move was in line with the Trump administration’s efforts to ratchet up a six-decade-long U.S. trade embargo with the energy blockade exacerbating rolling blackouts and forcing the communist government to ration health and transport, shorten hours in schools and state-owned workplaces, and close some hotels as it scrambles to conserve fuel.

Official Cuban government data shows Canada was the number one source of tourists to the island with more than 754,000 Canadians traveled there in 2025, compared with 110,000 from the United States, 56,000 from Mexico and 46,000 from Spain.