Venezuela crude oil output careens toward 1 million b/d
Venezuelan crude oil production is on the verge of sinking to 1 million b/d, and factors playing out this month will determine whether that level is reached early next year Continue Reading
Venezuela oil exports to China slump, may hit lowest in nearly 8 years
China’s imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according Continue Reading
Venezuela Oil Production May Sink To 1 Million Bpd As Early As This Year
Venezuela’s production plummeted again in May, by 42,500 bpd from April to below 1.4 million bpd—1.392 million bpd, according to OPEC’s secondary sources in its latest Monthly Oil Market Report Continue Reading
Venezuela’s Oil Sales To China Set To Plunge To 8-Year-Low
Venezuela’s economic and oil industry demise is likely to result in its crude oil exports to China plummeting to their lowest level in almost eight years in July, Reuters reported Continue Reading
Workers Flee and Thieves Loot Venezuela’s Reeling Oil Giant
Thousands of workers are fleeing Venezuela’s state-owned oil company, abandoning once-coveted jobs made worthless by the worst inflation in the world. And now the hemorrhaging is threatening the nation’s chances Continue Reading
Pipelay vessel arrives for oil basins offshore Brazil
A marine vessel designed to lay pipelines in the submarine environment arrived in the oil-rich waters off the coast of Brazil, joint venture partners said. Oilfield services company TechnipFMC announced Continue Reading
PDVSA may run foreign oil at largest refinery to meet export contracts: documents
Venezuela is considering refining foreign crude for the first time to produce fuels like gasoline or diesel, according to internal planning documents seen by Reuters on Wednesday, in the latest Continue Reading
Data confirms Cuban oil prospects
New data taken from an oil reservoir on the northern coast of Cuba confirm the assessment of a highly prospective site, Australia’s Melbana Energy announced. Melbana, which changed its name Continue Reading
Venezuela Won’t Have Enough Oil To Export By 2019
On May 21st President Donald Trump signed a new executive order prohibiting certain oil-related transactions with Venezuela. GlobalData, a leading data and analytics company, argues that the new sanctions are Continue Reading
Canada heavy crude at US Gulf record on Venezuela, Iran outlook, Brent/WTI spread
Heavy Canadian crude continued to trade at record levels in the US Gulf Coast Tuesday, buoyed by what market sources said was the combination of collapsing Venezuelan exports, the prospect Continue Reading