A second tanker dispatched by Iran was welcomed Monday by Venezuelan naval frigates and helicopters as it entered national waters, a lifeline for embattled Venezuelan President Nicolás Maduro that reflects Continue Reading
A total of around 210,000 mt to arrive in five tankers Venezuela faces severe fuel shortages due to sanctions, coronavirus Gasoline exports help Iran ease domestic supply glut London — Continue Reading
The first of five Iranian tankers carrying fuel to Venezuela has moored at Venezuela’s El Palito refinery, Iran’s English-language Press TV reported on Monday. Iran is providing Venezuela with 1.53 Continue Reading
Chile’s healthcare system is under strain and “very close to the limit,” President Sebastian Pinera said on Sunday, as the number of confirmed novel coronavirus infections approaches 70,000 after a Continue Reading
Venezuelans forced to queue for days to fill up their cars with gasoline are now facing a growing shortage of propane to cook after a processing plant caught fire and Continue Reading
While a cold war with China is working its way towards the inevitable, another situation is developing that could lead to physical clashes between Iran and the United States over Continue Reading
CARACAS (Reuters) – Venezuela’s Supreme Court on Friday ordered pay television service DirecTV to restore services in the South American country, after owner AT&T Inc said earlier this week it Continue Reading
Argentina’s move to set a $45/b domestic crude oil reference price this week has brought cheer to some oil producers, but analysts say it may take a couple of years Continue Reading
The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it. “Brazil has the worst COVID growth rate of any G20 country: Continue Reading
Brazil’s coronavirus outbreak worsened on Wednesday and the South American nation could soon have the second-highest number of cases in the world as the Health Ministry reported 888 new deaths Continue Reading
Global coronavirus cases surpassed 5 million on Wednesday, with Latin America overtaking the United States and Europe in the past week to report the largest portion of new daily cases Continue Reading
Doctors and nurses work in the covid-19 intensive care unit at the Emilio Ribas Institute of Infectious Disease hospital in São Paulo. (Jonne Roriz/Bloomberg News) Hospitals nearing capacity. Deaths soaring. Continue Reading
The Trump administration is weighing new sanctions and other legal steps to disrupt Iranian oil exports to Venezuela, U.S. officials said, in response to what the U.S. considers the Islamic Continue Reading
A dollar could once theoretically buy about 5 billion gallons of gasoline in Venezuela — more than enough to supply the state of Michigan for a year. Now, a dollar Continue Reading
The US Supreme Court has denied Venezuela’s request to reconsider a lower court’s decision allowing a PDVSA creditor to go after US refiner Citgo, its most valuable overseas asset. Receive Continue Reading
The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation Continue Reading
Thronged banks. Packed subway cars. Buses full of President Jair Bolsonaro’s fervent supporters, heading to rallies that call on Brazilians to brush aside stay-at-home orders from mayors and governors and Continue Reading
Russia’s largest oil producer, Rosneft, confirmed on Friday that it had discontinued all operations in Venezuela, including in joint ventures, trading, and oilfield services, as the top Russian firm looks Continue Reading
Petrobras has warned its shareholders that the coronavirus pandemic could leave a permanent mark on the global economy, including on consumer behaviors, as it reported a first-quarter loss and massive Continue Reading
The Federal Bureau of Investigation is looking into multiple European and Mexican oil companies that may be involved in violating U.S. sanctions surrounding Venezuela’s oil industry, according to four anonymous Continue Reading
Venezuela has imported crude oil, fuel, additives and refining components have been imported for as long as [state oil corporation] PDVSA has existed. Due to mismanagement, terrible strategies, frequent [workplace] Continue Reading
Deaths doubled in Lima, rivaling the worst month of the pandemic in Paris. They tripled in Manaus, a metropolis tucked deep in Brazil’s Amazon — a surge similar to what Continue Reading
Avianca Holdings , Latin America’s second-largest airline, filed for bankruptcy on Sunday, after failing to meet a bond payment deadline, while its pleas for coronavirus aid from Colombia’s government have Continue Reading
According to unnamed sources who spoke to Reuters, a power outage this week stopped operations at the Petropiar crude upgrader that PDVSA runs via a joint venture with Chevron. Separately, Continue Reading
Three weeks before he was shot dead, Miguel Calderon, an inmate in the lawless Los Llanos jail on Venezuela’s central plains, sent a voice message to his father. “We live Continue Reading
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America. Continue Reading
Venezuelan authorities have detained two U.S. citizens working with a U.S. military veteran who has claimed responsibility for a failed armed incursion into the oil producing country, President Nicolas Maduro Continue Reading
Venezuela’s oil exports ticked higher in April after falling in March to their lowest average in seven months, helped by new trading partners that were re-selling cargoes in Asia, according Continue Reading
Rigs are vanishing at a rapid clip in the United States, but oil and gas drilling activity is also falling worldwide. The international rig count fell by 144 in April Continue Reading
Chevron is complying with the U.S. Administration’s requirements, but it is not winding down all activities in Venezuela preparing to leave the country, the U.S. supermajor’s chief executive officer Michael Continue Reading
Venezuela seems to be changing tactics when it comes to managing its oil resources. PDVSA is considering a major industry reform that would increase private company activities in its troubled Continue Reading
A Venezuelan commission set up to study the restructuring of state PDVSA had recommended lifting state control over all its operations and is calling for private national and international capital Continue Reading
Venezuelan President Nicolas Maduro on Monday appointed his economy vice president, Tareck El Aissami, who has been indicted in the United States on drug trafficking charges, as oil minister, amid Continue Reading
Brazil is emerging as potentially the next big hot spot for the coronavirus amid President Jair Bolsonaro’s insistence that it is just a “little flu” and that there is no Continue Reading
Halliburton will suspend most of its operations in Venezuela, the company said, after Washington tightened the noose around Caracas by banning U.S. oil companies operating in the country from drilling Continue Reading
In a week when oil futures fell below zero, everyday Venezuelans are paying more than ever for gasoline as extreme shortages fuel a booming black market. The crisis has now spread Continue Reading
Halliburton Co. is shutting down primary operations in Venezuela as the U.S. tightens sanctions against the Nicolas Maduro regime. “Through December 1, 2020, we are only permitted to perform certain transactions Continue Reading
On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The Treasury Department’s Office Continue Reading
Argentina plans to issue a decree setting a higher local oil barrel price to protect the domestic industry from being further decimated by a collapse in global prices and slumping Continue Reading
Argentina has put on hold policies and incentives for ramping up oil production from the Vaca Muerta shale play as a global glut of crude supplies curbs export opportunities, Production Continue Reading
Chevron has been banned from drilling or transporting oil in Venezuela and its assets there are “mothballed” as the Trump administration cracks down on money going to the government of Continue Reading
Argentina is considering setting a minimum oil reference price at $45/b for local production, as much as $9/b less than some producers had requested, in a bid to revive output Continue Reading
Petrobras has started shutting down production at 62 offshore platforms in the shallow waters off its coast, Reuters reported , adding that the cuts will amount to 23,000 bpd. Petrobras Continue Reading
With friends and family stuck indoors and buses rarely running, Onasis Muñoz missed several lifesaving dialysis sessions for his failing kidneys. When his blood pressure started to dangerously spike, he Continue Reading
Brazil has suspended its 17th licensing round which would have seen the state oil regulator ANP offering 128 offshore exploration blocks throughout the country, fearing that the plummeting oil prices Continue Reading
The world may be falling into its worst recession in almost a century but one tiny South American economy is still forecast to grow 53% this year. The remote, jungle-covered nation of Continue Reading
Brazil likely has 12 times more cases of new coronavirus than are being officially reported by the government, with too little testing and long waits to confirm the results, according Continue Reading
Argentina’s Vaca Muerta shale is on life support just weeks after the meltdown in global crude oil prices. On Thursday, the regional news outlet in the Vaca Muerta, Rio Negro Continue Reading
Argentina’s state-held energy firm YPF slashed by 50 percent the oil production from its key development area in the vast Vaca Muerta shale play this week due to tumbling fuel Continue Reading
The US Treasury Department Friday again extended for three months a waiver preventing creditors of Venezuela’s PDVSA from taking control of US refiner Citgo as a result of missed payments Continue Reading
