French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported , citing unnamed sources familiar with the matter. TotalEnergies held a 30-percent stake in Continue Reading
Highlights Two wells drilled simultaneously on Stabroek block Encountered 246 feet and 167 feet of net pay Adds to block’s 9 billion boe total resource estimate An ExxonMobil-led consortium has Continue Reading
Venezuela is ignoring U.S. sanctions with its plan to boost production to 1.5 million bpd by the end of the year, around three times the current output. A document has Continue Reading
Highlights Pilot planned on two blocks Project seen opening new opportunities in shale play YPF also to invest in tertiary recovery YPF, the biggest oil producer and second for natural Continue Reading
While the COVID-19 pandemic and 2020’s oil price collapse hit Argentina’s hydrocarbon sector hard, leading to some analysts to claim that it may never fully recover , there is evidence Continue Reading
Brazil’s national power grid operator (ONS) said on Friday that severe drought is likely to push the country’s power generation capacity to its absolute limit by November, as hydroelectric plants Continue Reading
Venezuela’s capital city is once again rationing gasoline after output at state-owned refineries slumped, forcing motorists to endure day-long queues to top off tanks. Shortages have returned to Caracas, prompting Continue Reading
PDVSA is offloading more than a half a million barrels per day of condensate that it has imported in order to blend with its extra heavy crude oil, according to Continue Reading
Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. The Continue Reading
Highlights Prevents bond holders from seizing US refining assets Platts Analytics sees new risks to Venezuelan oil output The US Treasury Department has extended for three months an order blocking Continue Reading
The Arab Spring , which was a series of pro-democracy anti-government uprisings over a decade ago that swept across several largely Islamic states, triggered a substantial regional conflict that ultimately Continue Reading
Brazil’s national power grid operator (ONS) has asked electricity generators to postpone maintenance and technical work for as long as possible to help avoid worsening the energy crisis stemming from Continue Reading
Cuba has seen in recent days the biggest protests in decades as thousands of people took to the streets in the Communist-run country to demand freedom. But they also protest Continue Reading
Strong Asia prices lift shipments from US Congestion spurs increase in eastward voyages LNG tanker transits through the Panama Canal recorded a 12% increase from October through June compared with Continue Reading
Highlights Waiver allows US suppliers to meet propane shortage Move seen as symbolic of easing of sanctions pressure The US Department of Treasury granted a sanctions waiver July 12 allowing Continue Reading
WASHINGTON, July 12 (Reuters) – The U.S. government on Monday authorized shipments to Venezuela of liquefied petroleum gas, mainly used in the OPEC nation as cooking fuel and currently in Continue Reading
As Latin America continues its economic recovery from Covid-19, countries in the region are increasingly looking towards the circular economy as a platform for sustainable future growth. A counterpoint to Continue Reading
Brazil’s expected oil output surge this decade will make it the world’s fifth-largest crude exporter in 2030, Brazilian Mines and Energy Minister Bento Albuquerque said in an interview with The Continue Reading
Venezuela’s state-run oil company PDVSA has started producing two upgraded crude grades for domestic refining, aiming at reanimating the country’s much-needed output of motor fuels, according to a company document Continue Reading
Argentina is working to boost its oil production as well as investing in shale as the Latin American oil and gas giant continues to focus on traditional energy. June ended Continue Reading
Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the country’s oil fields where it seems Continue Reading
Crude oil exports from Venezuela inched up last month as traders rushed to sell Venezuelan crude to Chinese buyers ahead of the entry into effect of a new tax. Reuters Continue Reading
Highlights Strong prices, demand pull more Atlantic cargoes to Asia More eastward voyages around Cape of Good Hope also seen The Panama Canal Authority is monitoring for high arrivals of Continue Reading
Venezuela is preparing to once again lop off zeroes from the national currency in an attempt to simplify daily transactions which sometimes barely fit on a calculator or require swiping Continue Reading
Venezuela’s oil exports inched higher in June, boosted by cargoes to Asia and expanded sales of upgraded crude, data from state-run oil firm PDVSA and tanker monitoring showed, as the Continue Reading
PDVSA will incorporate 17 drill rigs, 14 contracted at $1.5 million each Plan’s goal is to raise production to an average of 1 million b/d in 2021 Orinoco Belt production Continue Reading
The Panama Canal faces a creeping threat from climate change, including droughts so intense that ships sometimes reduce their cargo so as not to run aground, and giant storms that Continue Reading
Latin America’s largest oil producer Brazil is one of the worst affected countries globally by the COVID-19 pandemic. According to the World Health Organization, Brazil is the third ranked country Continue Reading
Brazil’s worst water crisis in nearly a century is fueling inflation that’s reverberating through the economy, posing an additional challenge for the central bank and for President Jair Bolsonaro’s re-election Continue Reading
Venezuela’s Descent Into Anarchy Is Fueling Maduro’s Desperation Description: Tags: After more than 15 years of U.S. sanctions which caused Venezuela’s one mighty petroleum industry to collapse, the crisis-driven Latin Continue Reading
The deeply impoverished former English colony of Guyana has become one of the world’s hottest offshore drilling locations. Global energy supermajors have made a slew of major oil discoveries in Continue Reading
Despite being wracked by nationwide anti-government protests the prospects for Colombia’s beaten-down oil industry are improving. Most of the protests and blockades of major roads have been ended allowing onshore Continue Reading
Venezuela is investing in crude oil production recovery and aims to boost its output four times by the end of the year, to 1.5 million barrels per day (bpd), Oil Continue Reading
Venezuela Vice President Delcy Rodriguez, says that the economic reforms recently implemented by President Nicolás Maduro are consistent with the administration’s guiding principles of Bolivarian socialism. She spoke exclusively in Continue Reading
The United States and Brazil, the world’s top two ethanol producers, are expected to hold down production in coming months because of the surging cost of corn and sugar. Tight Continue Reading
The virus continues to spread in Brazil amid a lack of co-ordinated measures The number of deaths related to Covid-19 has passed 500,000 in Brazil, the second-highest in the world, Continue Reading
Venezuela’s Nicolas Maduro has been waiting for the Biden Administration to negotiate a deal that would bring relief to the U.S. sanctions on the country holding the world’s largest oil Continue Reading
Diesel shortage could force White House to ease sanctions Growing calls by US Democrats for humanitarian relief Production outlook hinges on US sanctions, China tax After Venezuelan President Nicolas Maduro Continue Reading
Liza Phase 2 production startup slated for early 2022 Six drillships active in the Stabroek block Liza crude exports heading to China, Netherlands ExxonMobil said June 9 it made a Continue Reading
Ecuador’s state-owned Petroecuador has declared force majeure at Campo Eden Yuturi, a highly strategic field located in Block 12 in eastern Orellana province, saying blockades by an indigenous community have Continue Reading
Brazil’s worst water crisis in almost a century is turning Latin America’s biggest economy into a hot spot for liquefied natural gas. As hydropower output declines, South America’s most populous Continue Reading
Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative Continue Reading
Brazil thinks it can do it all as it refuses to curb fossil fuel production, despite IEA warnings, while expecting to still meet environmental goals. Meanwhile, Equinor, ExxonMobil, and Petrogal Continue Reading
The logo of Chevron Corp is seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo Chevron Continue Reading
Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation’s oil sector, according to interviews Continue Reading
Nicolas Maduro Chevron Corp. and top American oil-service companies won an extension to keep a limited presence in Venezuela despite U.S. sanctions intended to starve President Nicolas Maduro’s regime of Continue Reading
Highlights Platts Analytics expects output of 500,000 b/d through September China tax, Biden sanctions could sway Venezuelan outlook The Biden administration has given Chevron and four other US oil service Continue Reading
Equinor (EQNR.OL) , ExxonMobil (XOM.N) and Petrogal Brasil said on Tuesday they would proceed with an $8 billion development of Brazil’s Bacalhau oil discovery. First oil from the field, which Continue Reading
From within his presidential palace, President Nicolás Maduro regularly commandeers the airwaves, delivering speeches intended to project stability to his crumbling nation. But as the Venezuelan state disintegrates under the weight Continue Reading
Brazil’s government agencies warned of droughts this week as the country faces its worst dry spell in 91 years, increasing fears of energy rationing, hitting hydroelectric power generation and agriculture Continue Reading
