Venezuelan Oil Sector Gets Bancamiga Backing, Faces PDVSA Lawsuit

Bancamiga has formally joined the Venezuelan Oil Chamber, pledging to provide tailored financial services to oil‑related companies, suppliers and contractors. Its offering includes modern point‑of‑sale systems, dynamic exchange desks, corporate digital channels, credit lines for working capital and project expansion, as well as foreign‑exchange and trade solutions, aiming to strengthen investment and operational liquidity in the country’s key energy sector.

A subsidiary of Petróleos de Venezuela (PDVSA) has filed a formal claim before the International Chamber of Commerce against Jamaica’s state‑owned Petrojam. The dispute centers on the Jamaican government's forced nationalisation of a refinery in which PDVSA held a 49% stake, alleging that promised Venezuelan investment was never realised and that U.S. sanctions have hampered PDVSA’s ability to fulfil its commitments.