Venezuelan consumer prices rose 19.5% in June compared with the prior month, data from the opposition-controlled National Assembly showed on Wednesday, as surging inflation contributes to rising poverty in the Continue Reading
For decades during the Cold War, Latin America was a focal point of conflict between the two superpowers, the U.S. and Soviet Union. While the U.S. emerged victorious after the Continue Reading
Throughout the 2010s Argentina’s shale deposits were universally listed alongside the US shale gale, denoting the many similarities Vaca Muerta shares with Eagle Ford in particular and Texas’ shale deposits Continue Reading
Brazil’s state-owned oil firm Petrobras aims to make better use of the associated natural gas in its prolific oil-rich pre-salt area by having offshore liquefied natural gas (LNG) units to Continue Reading
Highlights Province exported 19% of output in June Out of total exports, 60% went to the US Surge in exports comes as lockdown hurts local demand Buenos Aires — Producers Continue Reading
An Iranian conglomerate owned by the country’s military and tied to its missile program has established a retail foothold in Venezuela, according to officials and records detailing the move, deepening Continue Reading
Action delists shippers Adamant, Delos, Romina, Sanibel Greek shippers union vowed to end all Venezuelan trade Venezuelan oil exports to be capped at 300,000 b/d The US Treasury Department on Continue Reading
Federal prosecutors in the United States are looking to seize Iranian gasoline on tankers currently en route to Venezuela by filing a civil-forfeiture complaint, The Wall Street Journal reported on Continue Reading
Venezuela’s crude oil production tumbled by nearly 200,000 bpd in June compared to May, to just 422,400 bpd on June 28, as Venezuela struggles to place its oil on the Continue Reading
A legal fight over a gasoline cargo anchored near Houston is indicative of the shipping industry increasingly refusing to have anything to do with Venezuela and the efficiency of the Continue Reading
Crude production by state-owned Venezuelan oil company PDVSA and its international partners almost halved during June to 280,000 b/d because of full storage capacity and the collapse in exports due Continue Reading
The World Bank projects the recession in Latin America and the Caribbean will be the worst downturn since reliable data began in 1901, setting back progress on fighting inequality and Continue Reading
Exxon is moving to rapidly expand its exploration footprint in this little-known venue, French Total SA is spudding its first well here, small-cap Eco Atlantic – of offshore Guyana fame Continue Reading
The considerable optimism surrounding oil at the end of 2019, when Brent was trading at $68 a barrel has turned sour. The demand shock triggered by the coronavirus and subsequent Continue Reading
Argentina’s economic activity plunged 26.4% in April, the country’s official statistics agency said on Monday, the worst monthly fall on record as the country reeled from the impact of the Continue Reading
Iran has exported gasoline to Venezuela under a “commercial deal” and none of the trades was for free, news agency IRNA reported on June 28, citing Iranian Oil Minister Bijan Continue Reading
Reliance Industries, the owner of the largest refinery in India and the world, has stopped buying Venezuelan crude, according to unnamed sources in the know who spoke to Bloomberg, Last Continue Reading
President Nicolas Maduro said Wednesday he’s appointed a team of specialists to consider whether the price of the world’s cheapest gasoline in Venezuela should rise for drivers in the crisis-stricken Continue Reading
Officials from Venezuelan state oil company Petroleos de Venezuela [PDVSA.UL] have spoken with private contractors about paying for work fixing the country’s refineries with fuel and byproducts, a half dozen Continue Reading
Argentina is often cited as the likely candidate for the next big shale boom, and Vaca Muerta is often described as having the potential to be South America’s Permian basin. Continue Reading
Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to Continue Reading
In early May, the new coronavirus swept through the crowded homes in Alley 24 of Rocinha, one of the largest of Brazil’s favelas, or slum communities. Twenty of the 35 Continue Reading
In 2017, Nicolas Maduro’s regime sought help from the then-Republican Congressman from Texas, Pete Sessions, to arrange a meeting between Venezuela’s state oil firm PDVSA and the head of ExxonMobil Continue Reading
Public officials in the west and south of the US have stepped up their warnings about coronavirus in the wake of states in those regions reporting record one-day increases in Continue Reading
Venezuela is still sending oil to China despite stifling U.S. sanctions, Bloomberg has reported , citing shipping data from Kpler. As of this Monday, the data suggested, there were 3.3 Continue Reading
Exxon has reduced its crude oil production at the Liza offshore field in Guyana due to the risk of excessive flaring, according to the South American country’s regulator, as quoted Continue Reading
Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing. The United States Continue Reading
The United States is investigating and trying to get to the bottom of reports that Libya’s eastern-based commander Khalifa Haftar’s plane was in the Venezuelan capital Caracas last week, a Continue Reading
The collapse in oil prices and the tightening U.S. sanctions against Venezuela have accelerated the decline of the oil industry in the country sitting on the largest crude oil reserves Continue Reading
Chinese oil trading companies are mulling over a halt in chartering tankers that have called at Venezuelan ports over the past year as Washington steps up sanctions against the Caracas Continue Reading
The US is preparing sanctions on as many as 50 oil and fuel tankers in an effort to cut off trade between Iran and Venezuela. The Trump administration is preparing Continue Reading
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price Continue Reading
The United States ratcheted up its sanctions on Venezuela’s oil industry on Tuesday, focusing this time on maritime companies and their assets who have been assisting the Latin American country Continue Reading
The Trump administration escalated sanctions against Venezuela’s oil industry, targeting four maritime companies for supporting the “illegitimate” government of President Nicolas Maduro. The Treasury’s Office of Foreign Assets Control also identified Continue Reading
The Trump administration Tuesday tightened its web of sanctions around the Maduro regime in Venezuela, blacklisting four companies allegedly involved in the country’s oil sector. By sanctioning the firms and Continue Reading
Iranian tankers carrying at least $45.5m worth of gasoline sailed into Venezuela without incident [Marcos Moreno/AP] Iran has said it will continue fuel shipments to Venezuela if Caracas requests more Continue Reading
In the first day of higher gasoline prices in Venezuela, it’s hard to say who’s more confused. The attendants at the pump? Or the drivers. The good news is that there’s Continue Reading
Two Iranian tankers that delivered fuel to Venezuela as part of a five-vessel flotilla have begun to sail back, according to Refinitiv Eikon, as the government of the South American Continue Reading
Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free. Continue Reading
Iran and Venezuela have been moving closer together for years. The relationship began to flourish after Venezuela hosted the 2006 OPEC summit when then-Venezuelan President Hugo Chávez formed a personal Continue Reading
Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions Continue Reading
– Much to Turkey’s dismay, the EastMed gas pipeline project has been approved by the Cypriot cabinet, and studies are currently in progress. The consortium comprises Cyprus-Greece-Israel for the 1300-mile Continue Reading
Venezuela has grown increasingly dependent on one little-known trading firm in Mexico to help sell its crude abroad as the country faces U.S. sanctions starving it of oil profits in Continue Reading
Petrobras plans to issue one or more series of global bonds in the U.S. market, subject to market conditions, Brazil’s state-held oil firm said on Wednesday, without specifying amounts. Petrobras Continue Reading
The production of crude by Venezuela’s state-owned PDVSA and its partners in the Orinoco Belt fell to 235,000 b/d, or 18% of the region’s maximum 1.3 million b/d capacity, on Continue Reading
Four years ago, a bit player in the Venezuelan leadership was arrested in Colombia and extradited to the United States to face drug charges. He proved to be an important Continue Reading
In mid-March, Brazil took what seemed to be a forceful early strike against the coronavirus pandemic. The Health Ministry mandated that cruises be canceled. It advised local authorities to scrap Continue Reading
Venezuela’s state-run oil company Petroleos de Venezuela [PDVSA.UL] has cut crude production at several locations and its main crude blending plant has been operating intermittently this month due to mounting Continue Reading
Norway’s Equinor ASA , Brazil’s Dommo Energia SA ( DMMO3.SA ) and Anglo-French firm Perenco are among at least six oil producers that have registered coronavirus cases among employees or Continue Reading
Latin America’s largest airline LATAM Airlines Group SA ( LTM.SN ) said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Continue Reading
