OPEC’s Next Big Crisis
OPEC is having some success in heading off another oil market downturn, but over the medium-term the cartel faces much more serious risks. “OPEC’s production growth outlook over the medium Continue Reading
Libya committed to resuming output at El Sharara once worker safety is assured: NOC
Libya’s state oil firm NOC is committed to a swift resumption of oil output at the El Sharara oilfield, but only after its workers’ safety is assured, it said on Continue Reading
Egypt plugs hub status as Shell, Eni, Exxon win energy concessions
Royal Dutch Shell, Eni, BP and Exxon Mobil were among the winners in one of Egypt’s largest-ever oil and gas exploration tenders on Tuesday, as the country looks to sustain Continue Reading
Libyan assembly head calls for lifting of force majeure at top oilfield
The speaker of the Libyan parliament urged the head of National Oil Corp (NOC), Mustafa Sanalla, to lift the force majeure declared in December at El Sharara, the North African Continue Reading
Venezuelan Guaido’s team to nominate its own Citgo board
Advisers to Venezuelan Congress head Juan Guaido have proposed appointing executives Luisa Palacios, Angel Olmeta, Luis Urdaneta and Edgar Rincon to a transitional board for U.S. refiner Citgo Petroleum Corp, Continue Reading
Venezuela turns to Asia as sanctions cut oil flow to U.S., Europe
Venezuela’s oil exports have tapered off and shifted toward Asia since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States Continue Reading
China Talks With Venezuela Opposition to Protect Investments
“China recognizes the increasing risk of a regime change and does not want to be on the bad side of a new regime,” said R. Evan Ellis, an expert on Continue Reading
Venezuelan Opposition Could Soon Take Over Citgo
The Venezuelan opposition led by Juan Guaido could soon become the owner of PDVSA’s U.S. refining business, Citgo, in what would only deepen the chaos surrounding the country’s state oil Continue Reading
Sanctions On Venezuela Leaves Oil Market Scrambling For Heavy Crude
In an oil market already tighter on heavy crude grades due to OPEC’s production cuts and U.S. sanctions on Iran’s oil, refiners now face an even tighter supply of heavy Continue Reading
Venezuela’s oil output slips to 1.22 million b/d in Jan: EIA
The US Energy Information Administration sees more global oil supply and slightly lower demand this year and next, despite production cuts by OPEC and US sanctions on Venezuela creating a Continue Reading