The accumulation of residual fuel inventories in Venezuela's onshore tanks is forcing state energy company PDVSA to resort to extreme solutions to avoid shutting down refining units, as a U.S. blockade stopping tankers that are under sanctions from entering and leaving the country cuts exports to a minimum,

Russia on Thursday strongly condemned the US seizure of an oil tanker in the North Atlantic, warning that it could raise military tensions between the countries

The U.S. seized the Russian-flagged Marinera oil tanker -- formerly known as the Bella-1 -- which has been linked to Venezuela and was transiting the North Atlantic, according to three sources familiar with the operation. And it also seized another tanker, according to Homeland Security Secretary Kristi Noem.

Between US demands for its crude, tankers threatened with seizure, storage tanks at overflow risk and bewildered local authorities, the outlook for Venezuela's oil industry has never been murkier.

Donald Trump wants a Venezuelan oil reboot. But years of neglect have left corroded tanks, leaking pipelines and collapsing production

Russia on Thursday strongly condemned the U.S. seizure of an oil tanker, heralding a new chill in relations between Moscow and Washington that could spread to other areas and affect President Donald Trump's efforts to persuade Russia to end its nearly four-year war in Ukraine.

The Trump administration says it has completed the first sale of Venezuelan oil to the U.S. Will it mean lower prices at the pump?

Noting the US is a nuclear power, the interim president said she was not afraid to engage in diplomacy, saying "we have to go together as Venezuelans to defend sovereignty, independence, territorial integrity and also defend our dignity and our honour".