The Panama Canal Authority may add additional reserved LNG transit slots in the future to address the increase in US exports via the shortest route from the Gulf Coast to Continue Reading
ExxonMobil could install as many as 10 floating production, storage and offloading vessels, or FPSOs, at the Stabroek block off the coast of Guyana, the company’s manager for deepwater projects Continue Reading
Venezuela’s state oil company PDVSA suspended gasoline production at the El Palito refinery after a problem with a valve led to a fire, unnamed sources familiar with the incident told Continue Reading
Venezuela’s oil exports doubled in November, data from PDVSA and Refinitiv Eikon showed on Wednesday. Venezuela’s crude oil exports were less than 370,000 barrels per day in October, on average. Continue Reading
Fracking activity in Vaca Muerta shot up 58% month on month in November, reaching the highest level this year, according to data released Dec. 1, as Mexico’s Vista Oil & Continue Reading
Venezuela boosted its crude oil exports nearly threefold in November to more than 500,000 barrels per day (bpd), including by hiding the true identity of tankers to avoid detection, Bloomberg Continue Reading
Brazil’s massive offshore oil boom, notably in the deepwater offshore pre-salt oilfields, is continuing to grow despite weaker oil prices and the sharp impact of the COVID-19 pandemic. Strong demand Continue Reading
The international media think tanks and government agencies have discussed at length the near failure of Venezuela, once Latin America’s most stable and developed nation, and the emergence of this Continue Reading
It was not too long ago that copious oil reserves such as the 303 billion barrels located in Venezuela, which are the world’s largest, were viewed as a tremendous economic Continue Reading
FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the media prior to meeting with Kuwait’s Foreign Minister in Washington, D.C., U.S., November 24, 2020. Saul Loeb/Pool via REUTERS Continue Reading
Jorge Arreaza/Venezuela Foreign Minister, via Associated Press CARACAS, Venezuela — A Venezuelan judge on Thursday found six American oil executives guilty of a wide-ranging corruption scheme and immediately sentenced them Continue Reading
A combination of sharply weaker oil prices, inconsistent regulation, the COVID-19 pandemic, and constant conflict in the Amazon where most of Peru’s onshore oil industry is located has triggered a Continue Reading
After a bout of financial turmoil in Argentina last month, the government has restored calm in the markets and turned its attention once again to the development of Vaca Muerta, Continue Reading
Venezuela’s regime has recently arrested oil workers or retired oil workers who have dared to expose the corruption and mismanagement at its state oil firm PDVSA and its dire financial, Continue Reading
Fuel shortages in Venezuela are so bad amid the deepening crisis at its state oil firm that Venezuelans are stealing crude oil from idle oilfields and processing it at home Continue Reading
Opposition leader Juan Guaidó, whom the U.S. considers Venezuela’s legitimate president, during a rally last month. Creditors from hedge funds to oil companies are moving closer to seizing billions of Continue Reading
In a hard-fought campaign Democrat Joe Biden won the November 2020 U.S. presidential race beating incumbent Donald Trump. There were considerable fears in the run-up to the election that a Continue Reading
The US Treasury said Nov. 17 that Chevron and top oilfield services firms can remain in Venezuela until June, extending a wind-down deadline that was set to expire on Dec. Continue Reading
After a series of major oil discoveries offshore Guyana, ExxonMobil and partners found that the deepest well drilled so far offshore the Latin American country did not have commercial potential Continue Reading
Sharply weaker oil prices, growing threats to oil demand and the imminent arrival of peak oil demand could unleash a wave of stranded oil assets in South America. Among the Continue Reading
Nicaragua, on Monday as Hurricane Iota — upgraded to Category 5 — moves over the Caribbean toward the Nicaragua-Honduras border. MANAGUA, Nicaragua — Hurricane Iota, the strongest storm ever recorded Continue Reading
Chevron Corp.’s willingness to keep a foothold in oil-rich Venezuela will now be a thorny political issue for President-elect Joe Biden to sort out. The U.S. Treasury Department extended until June 3 its Continue Reading
Hurricane Iota slammed into Central America late Monday with ferocious winds and rain, threatening to cripple a region already reeling from a deadly storm two weeks ago. Iota, the most powerful Continue Reading
Sharply weaker oil prices, the COVID-19 pandemic, and heightened geopolitical uncertainty have done little to blunt Brazil’s epic offshore oil boom. By September 2020 Brazil had soared to be the Continue Reading
The head of Venezuela’s state oil company PDVSA, Asdrubal Chavez, and Venezuelan vice-president and economy minister Delcy Rodriguez are visiting Russia today to “deepen strategic alliances,” Reuters reported , citing Continue Reading
In desperation, Maduro’s autocratic regime has turned to Iran, another pariah state, for assistance. The collapse of Venezuela’s once-mighty oil industry has not only caused the Latin American country’s economy Continue Reading
While offshore Brazil , Guyana and to a lesser extent Suriname are gaining the lion’s share of attention when it comes to South American offshore oil, with opportunities opening-up in Continue Reading
Nearly a decade ago South America’s emerging offshore oil boom was viewed as a fad triggered by soaring oil prices which by 2011 had recovered from the Great Recession to Continue Reading
Despite significant headwinds, including a prolonged oil price slump, Colombia’s national oil company Ecopetrol r eported a solid third quarter 2020 profit with net income of around $222 billion. This Continue Reading
Venezuela’s crude production entered November on a downswing after the US banned non-US companies from crude-for-diesel swaps at the end of October. Output was slipping below an October average of Continue Reading
Venezuela’s crude oil exports last month fell further, to a low of 359,000 bpd, Reuters reported , citing official data. The decline was the result of the expiry of a Continue Reading
The Chilean government has set itself ambitious targets to become one of the world’s leading exporters of green hydrogen by the end of the decade, taking advantage of the country’s Continue Reading
Hurricane Eta has strengthened into one of the Atlantic’s most powerful storms of the year, packing winds of 150 miles (240 kilometers) an hour as it roars toward Central America. The Continue Reading
The administration of Argentina’s President Alberto Fernández is growing increasingly desperate to restart the burgeoning oil boom which was underway before the COVID-19 pandemic hit. Argentina has been one of Continue Reading
The tiny impoverished Latin American country of Ecuador continues to struggle with its legacy of resource nationalism. Even a push by the current administration of President Lenin Moreno to implement Continue Reading
‘Whether Trump or Biden wins, we will confront and defeat him,’ Venezuelan President Nicolas Maduro said, leaving little doubt as to his intentions toward whomever finds himself in the Oval Continue Reading
For almost a decade the Andean country of Colombia has been battling to significantly boost its low proven petroleum reserves and lengthen the production life of its economically vital oil Continue Reading
Estimated resources at the ExxonMobil-led offshore Stabroek block in Guyana have been raised to roughly 9 billion boe, up from more than 8 billion boe earlier this year, thanks to Continue Reading
Venezuelan President Nicolas Maduro on Wednesday said the country’s Amuay oil refinery was victim of a terrorist attack on Tuesday that involved a “powerful weapon”, but said the country had Continue Reading
There are considerable concerns that the vast oil reserves of Venezuela, totaling a billion barrels, could become a stranded asset. It was Venezuela’s burgeoning post-World War One oil boom which Continue Reading
After a positive start to 2020 there is little evidence of a sustained recovery for the Andean country’s economically crucial oil industry. Significantly weaker oil prices, the COVID-19 pandemic and Continue Reading
European Union foreign policy chief Josep Borrell speaks during a media conference after a meeting, Supporting the future of Syria and the Region, in videoconference format at the European Council Continue Reading
Venezuelan crude inventories have surged 84% over the last three weeks as the threat of U.S. sanctions ward away buyers of the nation’s most important commodity. That raises the risk Continue Reading
Venezuela’s state oil company has made a pessimistic estimate for next year’s oil prices, expecting to make just $35 per barrel for the crude it exports, Reuters has reported . Continue Reading
Argentina will give subsidies of a total of US$5.1 billion to shale gas drillers in an attempt to revive production in its Vaca Muerta shale play and attract as much Continue Reading
The floating storage and offloading vessel Nabarima is in danger of sinking off the Venezuelan coast with more than 1 million barrels of crude, but state-owned oil company PDVSA does Continue Reading
Venezuela, once Latin America’s largest oil producer and a founding member of OPEC, has seen its economically vital oil industry collapse triggering one of the worst economic and humanitarian crises Continue Reading
Thanks to increased production at the prolific pre-salt offshore basin, Petrobras expects its oil and gas production this year to exceed earlier guidance, Brazil’s state oil firm said as it Continue Reading
While the deeply impoverished South American country of Guyana is attracting the lion’s share of attention when it comes to oil, it is neighboring Suriname where the next major petroleum Continue Reading
There’s nothing quite like the feeling of uncertainty and dread right in the moments before a disaster of gargantuan proportions unfolds in front of our eyes. We might be living Continue Reading
