Venezuela sits on top of the world’s largest proven oil reserve. The country is home to what is estimated to be a whopping 296.5 billion barrels, which accounts for a Continue Reading
After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same ship to help the Latin American country export its Continue Reading
Violence has broken out yet again in strife-torn Colombia after a law student was killed by police in Bogota two weeks ago for allegedly breaching coronavirus social distancing restrictions. Those Continue Reading
After defying U.S. sanctions by shipping its first cargo of oil to Venezuela just last week, Iran is using the same ship to help the Latin American country export crude. The Continue Reading
Activity in Brazil’s energy patch keeps ratcheting ever higher. During January 2020, Latin America’s largest economy saw its all-important petroleum industry achieve a new milestone pumping on average a record Continue Reading
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, Continue Reading
US sanctions have deterred all but Iranian tankers from delivering gasoline to fuel-starved Venezuela, and the Trump administration will keep up pressure on the global shipping industry to avoid the Continue Reading
Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, Reuters reports , citing unnamed sources and company documents. State-owned oil company PDVSA produced just Continue Reading
Gasoline shortages are becoming more acute across Venezuela (Twitter). Spanish – An uptick in coronavirus cases amid the most severe gasoline shortages exacerbates the crisis in the country with the Continue Reading
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship, identified as Honey, turned off its satellite signal and started Continue Reading
Another round of Iranian gasoline shipments appears to be headed to Venezuela despite the US government’s move last month to seize similar cargoes to increase pressure on both sanctioned countries. Continue Reading
An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship is identified in internal documents as Honey, according to a Continue Reading
Contraband fuel sits on the side of a road in Puerto Santander, Colombia, on May 31, 2019. The Venezuelan government’s lack of cash to import gasoline combined with U.S. sanctions Continue Reading
Venezuela’s capacity to produce some much-needed gasoline and diesel of its own hinges on a single oil play. To tap it, the Nicolas Maduro regime is willing to cannibalize the Continue Reading
ExxonMobil said on Tuesday it had made its 18 th oil discovery offshore Guyana, which adds to its previous estimate of more than 8 billion barrels of discovered recoverable resources Continue Reading
While the August 2020 global rig count remains significantly lower than for the same period last year, because of oil’s protracted price slump, Colombia’s economically crucial petroleum industry appears to Continue Reading
Suriname is one of Latin America’s poorest countries. Up until July 2020, the former Dutch colony was mired in a political crisis that emerged from the hotly contested May parliamentary Continue Reading
It has been a tough summer for Venezuela. The already ailing country, in the throes of a severe lockdown, is also experiencing a major environmental disaster. In July, a state-owned refinery Continue Reading
Latin America has a long history of resource nationalism, particularly when it comes to petroleum. Since the end of World War Two, this has acted as a significant deterrent for Continue Reading
Venezuela’s oil industry—rich in reserves, a crucial Allied resource in World War II, a founding member of OPEC—is grinding toward a halt. Venezuela has greater oil stores than any other country. Continue Reading
Venezuela reportedly is finding it difficult to secure a vessel on which to empty an oil tanker at risk of sinking off its coast because of U.S. sanctions. (Bloomberg) — Continue Reading
The official August data on the number of fires in Brazil’s Amazon needs to be corrected and will likely show an increase over last year, meaning that blazes surged to Continue Reading
Argentina’s state-backed energy company YPF plans to redeploy 46 rigs in the Vaca Muerta region over the next six months, helping to revive oil and natural gas output from the Continue Reading
Venezuela once considered one of Latin America’s prosperous countries has plunged into the abyss. Years of economic mismanagement, cronyism and corruption have sparked a monumental economic collapse which saw the Continue Reading
Less than a decade ago energy companies scoffed at Chile’s drive to develop its renewables sector, rejecting it as too expensive even though the Andean country boasts some of the Continue Reading
As Venezuela’s near-nothing oil industry slinks further into nothingness, a new commodity is taking shape in the crisis-stricken Latin American country sitting atop the world’s largest oil reserves: gold. According Continue Reading
Earlier this month, President Maduro said he would be the first to get vaccinated Venezuela’s President Nicolás Maduro has announced he will be asking for volunteers to test the Covid-19 Continue Reading
Haggard and hungry, Nelson Torrelles took a midmorning breather at a truck stop after walking for hours with his wife and 5-year-old daughter along a Colombian highway leading back to Continue Reading
In a surprise move roughly one month ago Colombia’s Supreme Court ordered the house arrest of former President Àlvaro Uribe after allegations of witness tampering. The considerable controversy this has Continue Reading
Velacio Vicuña began to cough incessantly and felt feverish. But the tire salesman avoided getting a test for the new coronavirus, fearing that if it was positive, soldiers would take Continue Reading
The deeply impoverished South American country of Guyana in recent years was heralded as the hottest new oil boom in the Americas. A series of large offshore oil discoveries by Continue Reading
It is one of the most abundant shale plays in the world, with oil reserves of up to 16 billion barrels and gas reserves of 308 trillion cubic meters—resources that Continue Reading
Indigenous protests have taken over Peru, threatening to undermine the Latin American nation’s burgeoning upstream industry. To many it would come as a surprise that Peru has any substantial amounts Continue Reading
In just over a year Venezuela, and the push to oust socialist leader President Nicolas Maduro, has gone from being one of the world’s hottest news headlines to obscurity. The Continue Reading
Crisis- and sanctions-hit Venezuela is struggling with resuming gasoline production at its refineries, restarting and shutting various units again at some of its still operating refineries in recent weeks. Most Continue Reading
Venezuelan President Nicolas Maduro on Sunday thanked ally Iran for helping the South American country overcome U.S. sanctions on its oil industry and floated the idea of purchasing missiles from Continue Reading
Venezuelan President Nicolas Maduro said he was weighing the purchase of Iranian missiles, days after Colombian President Ivan Duque accused him of doing so. “It’s not a bad idea,” Maduro said Continue Reading
The Trump administration is tapping into more than $300 million in frozen Venezuelan government funds in an effort to give new momentum to its elusive goal of ousting President Nicolás Continue Reading
One country often ignored when considering Latin America’s regional hydrocarbon sector is the Latin American country of Peru. Over the last two decades, the Andean country has developed rapidly to Continue Reading
The new government in the world’s newest oil producer, Guyana, looks to raise the requirement for local content in employment and procurement of goods and services in the offshore oil Continue Reading
Ms. Rangel pleaded guilty to a count of conspiracy to commit an offense against the U.S., according to a plea agreement filed last week. Felipe Jaramillo, a lawyer who represents Continue Reading
The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation, according to people familiar with the matter. The measures Continue Reading
The United States is considering an October deadline for ending exemptions to Venezuelan sanctions that allow some companies and refiners to still receive the South American producer’s oil, two sources Continue Reading
The government of President Nicolás Maduro is detaining and intimidating doctors, marking the homes of people suspected of having the virus and detaining those who are returning to the country. Continue Reading
Venezuela could soon be producing close to zero barrels of oil, a new analysis by IHS Markit has revealed. Venezuela could soon be producing close to zero barrels of oil, Continue Reading
Despite tightening U.S. sanctions, Venezuela’s PDVSA has managed to ramp up its oil exports this month, with the daily average hitting 325,000 barrels, which was the highest in four months, Continue Reading
ExxonMobil has been awarded a 35-year concession for another block in Vaca Muerta, a massive shale play that has been driving the company’s growth in oil and natural gas production Continue Reading
Tankers carrying Iranian fuel cargoes covered by a U.S. warrant for seizure are sailing to the United States after talks between U.S. authorities and ship owners, a U.S. government source Continue Reading
Venezuela’s oil exports – which have dropped significantly over the past year because of the U.S. sanctions – are suffering another blow these days: the quality of the crude loaded Continue Reading
Venezuela’s state-owned oil firm PDVSA looks to restart another gasoline-producing unit soon, hoping to ease the gasoline shortages in the country that sits atop the world’s largest crude oil reserves. Continue Reading
