Guyana Is Taking Control Of Its Oil Boom
Guyana’s recent oil discoveries could not have come at a better time for the country, with international companies looking to move away from traditional oil-producing states A new law passed Continue Reading
ExxonMobil Announces Two New Oil Discoveries In Guyana
ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recoverable resource estimate for the block, the U.S. Continue Reading
Venezuela Doubles Crude Oil Exports Defying U.S. Sanctions
Oil exports from Venezuela doubled in December from a year earlier as the country raises production of revenue-generating hydrocarbons in defiance of U.S. sanctions. Shipments averaged 619,000 barrels a day Continue Reading
Venezuela Surprises Oil Markets With Large Production Increase
Venezuela has reported a significant increase in monthly oil output. The spike in output can be attributed to a range of factors, including the technical assistance and diluent provided by Continue Reading
Guyana Votes To Set Up Oil Wealth Fund
The Parliament of Guyana, where more than 10 billion barrels of oil equivalents have been discovered over the past half-decade, voted this week to amend its Natural Resource Fund (NRF) Continue Reading
Venezuela’s 2021 crude output shows no growth from last year
Highlights Average year crude production slightly below 2020 Production from JVs account for 60% of total production Iranian condensates boost output for third straight month Venezuelan state-owned PDVSA and its Continue Reading
Ecuador private-sector oil pipeline to restart operations on Dec. 31 -operator
Ecuador’s heavy-crude oil pipeline will restart pumping on Dec. 31 following maintenance to solve issues caused by erosion in the country’s Amazon region, while exports of Napo crude will begin Continue Reading
Venezuela Says Oil Output Topped More Than 1 Million Barrels a Day
Venezuela says it’s pumping the most oil since harsh U.S. sanctions strangled state-owned oil company Petroleos de Venezuela SA more than two years ago. Not everyone believes it. PDVSA, as Continue Reading
How Venezuela pulled its oil production out of a tailspin
Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra-heavy crude into exportable grades. Continue Reading
Cocaine, Guns And Gushers: Colombia’s Oil Industry Struggles To Reactivate
Rising security risk and rural violence, which is mostly fueled by the vast profits generated by the cocaine trade, is a key deterrent to attracting onshore oil investment in Colombia. Continue Reading