Latin American crude prices and flows to the United States have climbed this week as U.S. refiners tap lesser-used grades and suppliers to replace Venezuelan oil lost due to U.S. Continue Reading
When President Trump slapped surprise oil sanctions on Venezuela aimed at toppling President Nicolás Maduro, exports plunged and banking froze as the effects hit harder and faster than expected. But Continue Reading
Not only ordinary Venezuelan people have been fleeing poverty and hyperinflation in the Latin American country in recent years. Oil workers are also leaving their poor-paying jobs in the country Continue Reading
US sanctions imposed on Venezuela’s state-owned PDVSA could further support an already tight high sulfur fuel oil market in Europe, sources said. The European fuel oil market has seen unusual Continue Reading
The U.S. Justice Department is investigating a former U.S.-based oil trader for Brazil’s Petrobras already charged in his home country with taking part in a corruption scheme involving commodity companies Continue Reading
The sanctions the U.S. slapped on Venezuelan oil last week are playing havoc with the tankers that ship crude around the world, and throwing energy prices off-kilter in the process. Continue Reading
Trading houses that resell Venezuelan crude oil have not yet found workarounds since the United States announced sanctions to cut off socialist President Nicolas Maduro’s revenue, according to shipping data Continue Reading
France’s oil and gas major Total has pulled out all its personnel from Venezuela following the U.S. sanctions on Venezuelan state oil firm PDVSA, which also blocked Total’s accounts in the Latin Continue Reading
Venezuela’s state-owned PDVSA is arguing in US court that the latest sanctions imposed by the Trump administration should block any attempts by Venezuela’s creditors to use the US justice system Continue Reading
Venezuela’s state-run PDVSA has started mixing its extra heavy oil with domestic Santa Barbara light crude due to a shortage of imported diluents following U.S. sanctions imposed last week, two Continue Reading
