Venezuela’s crude oil exports rose last month despite Washington imposing new sanctions in January on several trading houses that worked with Caracas to export its oil. According to Tanker Trackers Continue Reading
Venezuela oil exports dropped in February after the U.S. sanctioned key trading houses and individuals that had been propping up exports of the commodity that bankrolls President Nicolas Maduro’s regime. Crude Continue Reading
Venezuela and Iran, both sanctioned by the United States, have found a way to help each other as shipping companies stay away from dealings with the two oil-producing countries for Continue Reading
Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part of a swap deal agreed by the two state-run oil Continue Reading
The Panama Canal Authority is considering seeking greater compensation for canceled bookings during peak seasonal demand periods, as it works to add a third daily reserved transit slot for LNG Continue Reading
Francisco Dallmeier is the head of the Center for Conservation and Sustainability of the Smithsonian Conservation Biology Institute. Cristina V. Burelli is executive director of V5 Initiative and SOSOrinoco.org. The Continue Reading
The European Union on Monday imposed sanctions on 19 more officials in Venezuela accused of undermining democracy or rights abuses in the crisis-torn South American country. EU foreign ministers targeted Continue Reading
In a surprise move, President Biden has withdrawn U.S. support for a Saudi-led military campaign against Houthi rebels in war-torn Yemen, describing the country’s bitter civil war as a humanitarian Continue Reading
As Trinidad and Tobago continue to explore for major oil and gas fields in the Caribbean region, the Bahamas Petroleum Co. has made a non-commercial oil discovery. While Trinidad and Continue Reading
Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US Continue Reading
Venezuela has jailed for five years two former managers at its state oil firm PDVSA for providing sensitive data about Venezuelan oil operations to the United States, Venezuela’s attorney general Continue Reading
Latin America just seems to be unable to synchronize its long-mooted upswing with global energy trends. Venezuela boasts the largest reserves on earth yet just as it starts to recover Continue Reading
Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Continue Reading
The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic Continue Reading
A new monthly record was set in January for LNG tanker transits of the Panama Canal, as US shipments to Asia surged, according to the operator of the Canal. Receive Continue Reading
Fracking activity in Vaca Muerta, Argentina shot up in January to its highest level in 17 months, according to data released Feb. 3, as demand recovers from an eight-month lockdown Continue Reading
Average crude output by Venezuela’s state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by Continue Reading
The tiny South American countries of Guyana and Suriname are the focus of Latin America’s latest oil boom. A slew of oil discoveries by ExxonMobil since 2015 in its offshore Continue Reading
Argentina’s national state oil company YPF just cannot function in a stable and foreseeable manner, an apprehension that was rekindled by Guillermo Nielsen stepping down from his post of company Continue Reading
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela’s oil industry. (Bloomberg) — Chevron Corp. and Reliance Industries Continue Reading
Despite outside assistance from Russia, China and Iran, the embattled socialist regime of President Maduro has proven incapable of rebuilding Venezuela’s once-mighty petroleum industry. According to the latest OPEC Monthly Continue Reading
January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is hardly surprising, Continue Reading
The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so great that Continue Reading
LNG tankers passing through the Panama Canal without a reservation faced average wait times of more than a week Jan. 22, continuing the constraints that began in earnest in October. Continue Reading
Oil flow through Colombia’s Cano Limon-Covenas pipeline was suspended on Friday after an attack with explosives started a fire, Cenit, a subsidiary of the country’s majority state-owned oil company Ecopetrol, Continue Reading
Last year was tough for the global oil industry as the COVID-19 pandemic and an ongoing oil supply glut rocked petroleum-dependent emerging economies, notably in South America, to their core. Continue Reading
Majors are eying Suriname as the next big oil player. With recent success in neighbouring Guyana, Suriname offers hope for low-cost oil exploration and production going into 2021. Exxon Mobil, Continue Reading
It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and Continue Reading
The Trump administration issued a parting shot to Venezuelan President Nicolás Maduro on Tuesday, announcing a sweeping round of stiff financial sanctions that target a network accused of moving oil Continue Reading
The US Treasury sanctioned a series of European oil traders and crude tankers that allegedly helped a Mexican network work with Venezuela to evade US sanctions and move its crude Continue Reading
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse Continue Reading
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs Continue Reading
Venezuelan Foreign Minister Jorge Arreaza on Saturday criticized a U.S. court ruling authorizing a sale of the shares in the parent company of U.S. refiner Citgo Petroleum Corp, calling it Continue Reading
Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the Continue Reading
The fate of US refiner Citgo Petroleum remains in limbo following a federal court ruling late Jan. 14 that reaffirms the eventual auction of shares of Citgo’s Venezuelan holding company. Continue Reading
What is fast becoming the world’s hottest offshore oil play, the Guyana-Suriname Basin, has entered the headlines once again. Hot on the heels of ExxonMobil and its partner Malaysian state-controlled Continue Reading
Total and Apache Corporation have made their fourth oil and gas discovery offshore Suriname in the Guyana-Suriname basin, the French supermajor said on Thursday. The discovery adds to numerous other Continue Reading
Sharply weaker oil prices and the global COIVD-19 pandemic had little material impact on Brazil’s massive offshore oil boom. Even the fact that the oil rich Latin American country is Continue Reading
Much has been made of President-elect Joe Biden’s energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive a global oil Continue Reading
Like many global oil majors ExxonMobil is under considerable pressure because of the significant fallout from the COVID-19 pandemic, sharply weaker oil prices and the threat of peak oil demand. Continue Reading
Crude oil output from fields operated by Brazil’s state energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million bpd, Bloomberg reported , comparing Continue Reading
Chanting anti-American slogans, thousands of Iraqis converged on a landmark square in central Baghdad on Sunday to commemorate the anniversary of the killing of a powerful Iranian general and a Continue Reading
Venezuela’s rapidly disintegrating oil industry, which is the backbone of its economy, is a mere shadow of what it once was, despite the founding OPEC member possessing the world’s largest Continue Reading
Venezuela’s crude oil and refined product exports plummeted in 2020 to their lowest level in 77 years, as the U.S. continued to step up sanctions against Nicolas Maduro’s regime and Continue Reading
Venezuela’s oil industry will likely continue to deteriorate in 2021, with the country’s roughly 300 billion barrels of crude in reserves left largely untapped even if oil prices move higher, Continue Reading
Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from Continue Reading
Venezuelan oil exports plummeted this month as U.S. sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to Continue Reading
In January 2019, the Trump administration imposed sanctions on Venezuela’s oil shipping sector in an ongoing bid to force President Nicolás Maduro from power. The sanctions deepened Venezuela’s already severe Continue Reading
Colombia country is facing its worst economic catastrophe of modern times because of the global COVID-19 pandemic. The IMF believes that the strife-torn Latin American country’s economy will shrink by Continue Reading
After five years of plunging oil production and experiencing the near-collapse of its economically crucial petroleum industry and the worst peacetime economic crisis of the modern age, there are signs Continue Reading
