: LA Port Chief The global shipping bottlenecks rattling industries and consumers in the pandemic era were plain to see for the politicians, economists and investors gathering for a Latin Continue Reading
Highlights US allows Chevron to renegotiate license with PDVSA Lawmakers blast change in policy toward Venezuela Calls continue for action to aid domestic oil output Details remained scant May 18 Continue Reading
Chevron has a joint venture with state-owned oil company Petróleos de Venezuela. The U.S. extended a limited license held by Chevron Corp. on Tuesday that allows the oil company to Continue Reading
Crude fell after the US government announced it plans to allow Chevron Corp. to negotiate its oil license with Venezuela’s national producer. West Texas Intermediate settled below $113 on Tuesday. Continue Reading
Chevron waiver was due to expire June 1 Opposition leader Guaido denies involvement Republican lawmakers May 17 were quick to condemn steps the Biden administration reportedly took to ease oil Continue Reading
Latin America pulling more refined product cargoes from Europe, Asia USGC ULSD waterborne premium drops on race to supply Latin America Latin American diesel prices have backed away from record Continue Reading
A Venezuela-owned tanker in March sailed to a remote spot in the Indian Ocean and met an Iran-flagged vessel, took on a cargo of Iranian condensate and sailed home, according Continue Reading
The suspended draft allows fully-laden Suezmax transits 50-foot maximum permits Neopanamax container ship transits Southbound transit waiting times for Supers at eight days The 49.5-foot draft restriction for the Neopanamax Continue Reading
Venezuela has begun importing Iranian heavy crude to feed its domestic refineries, documents from the state-run oil company PDVSA showed, a deal that widens a swap agreement signed last year Continue Reading
Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality crude grades and insufficient oil upgrading capacity available, according to documents and vessel Continue Reading
Guyana has started discussions with Exxon Mobil Corp (XOM.N) to build a more than 120-mile (190-km) natural gas offshore pipeline, Natural Resources Minister Vickram Bharrat said on Tuesday at the Continue Reading
Exxon has made three discoveries offshore Guyana and increased its recoverable resource estimate for Stabroek to nearly 11 billion oil-equivalent barrels. U.S. oil supermajor ExxonMobil has made three new discoveries Continue Reading
Colombia’s oil industry has been in a death spiral since the beginning of the COVID-19 pandemic. Growing community and political opposition to Colombia’s oil industry adds an elevated risk to Continue Reading
The carbon emissions of JBS, the world’s largest meatpacking company, soared more than 50 per cent in the past five years, according to new research that lays bare the challenge Continue Reading
Guyana considers creation of state-run oil company. Guyana President: diversifying Guyana’s economy is crucial. Guyana will look for a “strategic partner” to run a state-run oil company. The world’s newest Continue Reading
Venezuela is scrambling to ramp up its oil production to help tackle global supply constraints. There is a growing concern that state-owned PDVSA is reaching its production capacity. Some analysts Continue Reading
Argentina’s new deal with Bolivia to up natural gas imports will bring savings of $769 million in foreign-exchange reserves and replace 14 vessels of increasingly expensive liquefied natural gas (LNG), Continue Reading
Forecast of 42 mil mt could be cut further 9% of area harvested Truckers’ strike poses huge logistical challenge The Argentinian soybean output forecast for 2021-22 crop year (November-October) is Continue Reading
Guyana is on track to produce more than 1 million bpd of crude by 2027. The size of the Guyana-Suriname basin may be bigger than anticipated. Besides deepwater oil, Suriname Continue Reading
Sky-high gas prices and market volatility is weighing on Argentina. Despite being one of the most gas-rich countries in the world, Argentina is facing a massive fuel shortage. Years of Continue Reading
The cost for Latin American countries to import diesel via vessel from the United States is rising due to limited supply and increased freight costs, according to shipping sources and Continue Reading
Cuba is struggling to cover a fuel deficit as imports from Venezuela and other countries remain below historical levels and global prices boosted by Russia’s invasion of Ukraine make purchases Continue Reading
Leaders from Argentina’s major transportation union said on Monday they will call for a national strike to demand an increase in grain freight rates, as higher fuel costs cause tensions Continue Reading
Exxon has made a final investment decision for the Yellowtail development offshore Guyana after receiving government approval. U.S. supermajor ExxonMobil has made a final investment decision for the Yellowtail development Continue Reading
Petroleum exports from Venezuela declined about 4% in March from the previous month as its state-run oil company dealt with crude cargoes returned by customers over poor oil quality, documents Continue Reading
Brazil is looking to fill part of the supply gap caused by sanctions on Russia over its invasion of Ukraine. Despite a miss on Exxon’s recent exploration push, Brazil’s oil Continue Reading
Changes to be phased in starting in 2023, after comments Operator wants fees to reflect shifting market conditions A new fee structure proposed by the Panama Canal Authority April 1 Continue Reading
Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will Continue Reading
Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according to three sources and a document seen by Continue Reading
Highlights Latin America among the biggest beneficiaries of Russian crude shortfall Observers concerned proceeds being used to subsidize energy prices Additional investments in the sector could delay energy transition The Continue Reading
Highlights State-backed refiner says it will step up deliveries Logistics problems are behind the shortfall Farmers fear diesel shortage will stall crop harvest YPF, the biggest oil producer and refiner Continue Reading
Diesel imports have surged in dollar terms Price controls are discouraging importing more Imported diesel is sold at 30% below its import price Argentina’s service stations have started rationing diesel, Continue Reading
A Russian oil company used to provide a workaround to U.S. oil trading sanctions on Venezuela is scrambling to avoid another set of sanctions, documents show, this time from Europe Continue Reading
Russia’s invasion of Ukraine has sparked concern of a global supply shortage, forcing the U.S. to rethink its relationship with Venezuela. The burden created by strict U.S. sanctions against Venezuela Continue Reading
Cammesa seeks 12 total cargoes of HSD, fuel oil — half of its last tender Several large LatAm awards or tenders out March 25 after dry spell Argentina’s Cammesa unveiled Continue Reading
Highlights TGS to add 17 million cu m/d of capacity Another project planned with 44 mil cu m/d capacity Developments raising export expectations Transportadora de Gas del Sur, or TGS, Continue Reading
—For months, Biden administration officials snubbed top executives and lobbyists for Chevron Corp. who had pressed officials in Washington to ease sanctions so the company could boost production in Venezuela, Continue Reading
The war in Ukraine has created an especially volatile oil market, and the Biden administration is racing to counter rising prices. The United States needs to replace as much as Continue Reading
Guyana is going through an impressive oil boom, with the country on track to produce over a million barrels per day by 2030. Unfortunately, the small country’s production will take Continue Reading
Postponed draft decrease extends fully-laden Suezmax transits 49-foot draft restriction limits Suezmax tankers, Neopanamax container ship transits Waiting times for transit decrease to six days southbound The first draft reduction Continue Reading
Chevron Corp. is preparing to take operating control of its joint ventures in Venezuela if Washington relaxes sanctions on Caracas to boost crude supplies after banning Russia’s oil imports, according Continue Reading
Venezuela’s oil output could rise by at least 400,000 barrels per day (bpd) if the United States authorizes requests by state-run PDVSA’s partners to trade Venezuelan crude, the country’s petroleum Continue Reading
Pressure is building on the Biden administration to begin unwinding sanctions on Venezuela after President Nicolas Maduro freed two American prisoners and promised to resume negotiations with his opponents. Maduro’s Continue Reading
U.S. officials have demanded Venezuela supply at least a portion of oil exports to the United States as part of any agreement to ease oil trading sanctions on the OPEC Continue Reading
Venezuela released two jailed U.S. citizens on Tuesday in an apparent goodwill gesture toward the Biden administration following a visit to Caracas by a high-level U.S. delegation. One of the Continue Reading
Highlights Latin American ULSD passes $160/b to fresh record highs Companies are in ‘stealth mode’ looking for cargoes Latin American tenders have gone into hiding as refined oil products reached Continue Reading
The chief executive of ONGC Videsh, India’s second-largest oil and gas company, on Sunday confirmed talks between India and the U.S. State Department are underway to allow the company to Continue Reading
A group of senior U.S. officials flew to Venezuela on Saturday for a meeting with President Nicolás Maduro’s government to discuss the possibility of easing sanctions on Venezuelan oil exports Continue Reading
Senior U.S. officials are traveling to Venezuela on Saturday to meet with the government of President Nicolás Maduro, according to people familiar with the matter, as the Biden administration steps Continue Reading
Brazil is searching for new fertilizer suppliers as the war in Ukraine threatens to cut off shipments to one of the world’s breadbaskets, with potential ripple effects on already high global Continue Reading
