ofacsanciones

The news landed like a bucket of cold water in the energy world: Ecopetrol filed an application for a license with OFAC to bring visibility to the operation of the binational «Antonio Ricaurte» gas pipeline, and also announced that it would ask PDVSA to let it take over operations of the Colombian section. Its president, Joaquín Gutiérrez, was blunt: the idea is to sign a 10-year gas purchase-and-sale contract at a price he described as very competitive.
For the average Venezuelan, a gas pipeline sounds like a distant concern, something for executives in ties and official photo ops. But at PitbullChain, we see it differently: behind every energy deal there’s a flow of foreign currency, an exchange rate that breathes, and a P2P market that moves before the announcement comes out.