Venezuelan PDVSA’s U.S. refining unit Citgo Petroleum is increasing its efforts to buy crude oil on the open market to compensate for declining supplies from its parent, which is dealing Continue Reading
Brazil held an auction last week that attracted some of the largest oil companies in the world, including Chevron, ExxonMobil and Equinor (formerly Statoil). The auction comes on the heels Continue Reading
An auction for rights to tap into the oil basins off the coast of Brazil highlights the country’s prospects for those with deep enough pockets, analysis found. Brazil on Thursday Continue Reading
Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals, according to shipping data, as chronic delays and production declines could breach state-run PDVSA’s Continue Reading
“I kindly request solidarity and support from our fellow members,” Venezuela’s Oil Minister Manuel Quevedo wrote in a letter to OPEC seen by Bloomberg News . In the letter, Quevedo Continue Reading
Venezuela has released two local Chevron executives that were arrested back in April on corruption allegations, Reuters reports , citing sources from Caracas and Chevron. A source close to Chevron Continue Reading
Venezuela has begun testing sea-borne oil transfers to ease a severe backlog of crude deliveries from its main terminals, according to sources and data, as chronic delays and production declines Continue Reading
Oil rose on Thursday on concerns about a plunge in exports from Venezuela, although surging U.S. production kept gains in check. Brent crude futures LCOc1 were up 23 cents at Continue Reading
Development of oil basins off the coast of Brazil remains a core focus, Norwegian energy company Equinor said after selling off interests to Exxon Mobil. Equinor, formerly known as Statoil, Continue Reading
Venezuela’s President Nicolas Maduro has accused the United States of infiltrating senior positions at the Venezuelan oil industry. “There was a process of penetration and infiltration in key positions of Continue Reading
