Venezuela’s Oil Meltdown Defies Belief
Venezuela might have to declare force majeure on its oil exports as production plunges and its ports are unable to ship enough crude. The ongoing meltdown in Venezuela’s oil sector Continue Reading
Venezuela frees Chevron executives held since April: sources
Venezuela has released two local executives of Chevron Corp jailed two months ago during a corruption probe in the oil sector, a local consultancy and a source close to the Continue Reading
OPEC-member Venezuela facing more regional pressures
Venezuela may be facing further economic obstacles as the U.S. secretary of state calls for its suspension from the Organization of American States. Venezuelan President Nicolas Maduro faced widespread criticism Continue Reading
Venezuela’s PDVSA Fails To Meet Oil Supply Obligations
Venezuela’s state oil company PDVSA has told eight foreign clients it will be unable to supply the contracted volumes of crude oil, a company employee told S&P Platts. “Among the Continue Reading
Qatar taps into giant Argentinean shale reserve
Saad Sherida al-Kaabi (R), president & CEO of Qatar Petroleum, signs an agreement with Andrew Swiger, the principal financial officer of Exxon Mobil, for a stake in shale gas in Continue Reading
A historic exodus is leaving Venezuela without teachers, doctors and electricians
An unruly 9-year-old bolted from his classroom, prompting a volunteer teacher to chase him down the hall. He would normally be hauled straight to Romina Sciaca’s office. But the guidance Continue Reading
Brazil oil workers end strike early, output not affected: Petrobras
Oil workers ended a 72-hour warning strike at Brazilian state-led oil producer and refiner Petrobras a day early after a Labor Court judge increased fines for not adhering to an Continue Reading
Is socialism to blame for Venezuela’s never-ending crisis?
Is socialism to blame for Venezuela’s never-ending crisis? Venezuela’s recent presidential election has done nothing to end the country’s profound political, economic, and social crisis. Inflation is spiralling out of Continue Reading
Brazil returns to normal as oil strike, trucker protests wind down
Brazil showed signs of returning to normal on Thursday as an oil workers union ended a strike ahead of schedule and an 11-day trucker protest wound down, a welcome breather Continue Reading
Brazil’s Oil Cargo Tender Falls Through With No Bids
Brazil received no bids in the first tender for a total 1.63 million barrels of crude extracted from the prolific pre-salt zone, Reuters reports . The state received the oil Continue Reading