The Trump administration’s decision to sanction Rosneft’s trading arm Tuesday may be a sign that Chevron’s waiver allowing it to continue its work in Venezuela may soon expire, analysts said. Continue Reading
The US imposed sanctions on Rosneft Trading SA, the Geneva-based subsidiary of the Russian state oil company, on Tuesday for supporting Venezuela’s oil sector by continuing to trade with sanctions-hit Continue Reading
A cargo of 950,000 barrels of crude that had been stranded at sea for about a year has finally docked at the port of Jose in Venezuela, Bloomberg reports, adding Continue Reading
Venezuela’s state-owned PDVSA has 677,000 b/d of crude available to sell for February, but no buyers because of US sanctions, according to a company official. Receive daily email alerts, subscriber Continue Reading
The study results have implications for the fight against climate change. Up to one fifth of the Amazon rainforest is emitting more CO2 than it absorbs, new research suggests. Results Continue Reading
Chevron has boosted oil production at its joint venture with Venezuela’s PDVSA to the highest in almost a year, Bloomberg reports , adding that the Maduro government is considering giving Continue Reading
When Alberto Fernandez, Argentina’s new left-leaning president, entered into office December 10 the international markets were anxious to see whether the post-Macri era would result in an energy policy reversal, Continue Reading
US Gulf Coast refiners have been increasing their imports of a crude oil residue from Russia in response to both sanctions on Venezuelan crude exports and declining prices of high Continue Reading
Mr Lavrov (left) was speaking after talks with President Maduro (right) in Caracas Russia has pledged to boost military and economic co-operation with Venezuela to help the South American nation Continue Reading
Shares in Russia’s largest oil producer, Rosneft, slumped on Friday on the Moscow Stock Exchange, following a report on Thursday that the United States is thinking about slapping sanctions on Continue Reading
Venezuelan authorities rounded up U.S. oil executives held under house arrest in Caracas Wednesday night and moved them to a prison, the top U.S. envoy to Venezuela told reporters on Continue Reading
In the year since the Trump administration declared what amounted to economic war against the Venezuelan government of President Nicolás Maduro — an oil embargo that cut it off from Continue Reading
The US continues to weigh sanctions on Russian state oil company Rosneft as it continues to receive Venezuelan crude as debt repayment and sell it to China and India buyers, Continue Reading
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore Continue Reading
Venezuela’s oil exports fell 14% in January , exporting less than 1 million bpd of crude and refined products for the month, according to Reuters. The 951,903 bpd that was Continue Reading
The Trump administration on Wednesday warned Venezuelan President Nicolas Maduro not to interfere with the return of opposition leader Juan Guaido and floated possible sanctions against Russia’s Rosneft ( ROSN.MM Continue Reading
Russian Foreign Minister Sergei Lavrov will visit Venezuela on Friday in a show of support for President Nicolas Maduro, a socialist who Washington wants out of power. Russia has helped Continue Reading
A new report suggests that the world’s newest oil exporter, Guyana, lost $55 billion from its deal with Exxon that would allow the oil major to develop its offshore oil Continue Reading
Shell and Equinor said Friday they have agreed to buy Schlumberger’s 49% stake in Bandurria Sur for $355 million, adding that they plan to increase their ownership of the shale Continue Reading
Swaying to the D.J. and sipping cocktails on the open terrace of a mountain side bar, a party of private-school teenagers in Prada sneakers and Chanel bags looked down over Continue Reading
The latest US sanctions reversed the progress made by the Obama administration, and the brunt of their force is being felt by the very people the measures claim to support. Continue Reading
The U.S. Agency for International Development (USAID) and the U.N. International Organization for Migration (IOM) launched a program on Tuesday to help tens of thousands of Venezuelan migrants settle for Continue Reading
January 28 marks the one-year anniversary of sanctions imposed by the US Department of Treasury on Venezuela’s state-run oil producer, PDVSA, which has been translated as a de facto ban Continue Reading
As Venezuela continues its ungraceful careen off the cliff, few opportunities are left for the Latin American country to save itself from disaster. One such opportunity would be for the Continue Reading
The Trump administration’s bid to replace Venezuela’s authoritarian leader Nicolás Maduro hit a roadblock after a meeting with Russian officials in Rome last year—and has never recovered. U.S. envoy Elliott Continue Reading
Brazil has decided to stay out of OPEC for the time being as it seeks to expand its oil production, Bloomberg has reported, citing energy minister Bento Albuquerque. “The idea Continue Reading
PDVSA has shut down its last two operating refineries in Venezuela, closing its Amuay and Cardon facilities at the Paraguana Refining Center (CRP), the largest refining complex in the country, Continue Reading
Equinor, Shell and Total vowed to press on with projects in Vaca Muerta, even as policy uncertainty and price controls make it harder to plan investment in Argentina’s biggest shale Continue Reading
ExxonMobil raised the amount of its estimated recoverable reserves in Guyana Monday by more than 30% to more than 8 billion boe, even excluding the just-announced latest discovery. Urau-1 is Continue Reading
Highlights Energy minister to travel to G-20 event in Saudi Arabia Brazil to hold bilateral talks with Saudi Arabia on sidelines Current regulatory regime prohibits caps on oil, gas output Continue Reading
Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, Reuters reports , citing the country’s oil regulator, ANP. The daily average Continue Reading
Highlights Companies halt plans to fire workers Unions, producers to sit down for further talks Agreement comes as government seeks to improve investment conditions Buenos Aires — An oil union Continue Reading
Venezuela’s government is promising to replenish oil supply to its close political ally Cuba as part of a broad push to relaunch its PetroCaribe regional oil supply initiative. Senior Venezuelan Continue Reading
In the latest move meant to back Venezuelan opposition leader Juan Guaido , the Trump administration on Tuesday sanctioned more than a dozen aircraft used to support the regime of Continue Reading
A day before Christmas 2019 ExxonMobil and its partners have lifted the first commercial crude from the Liza field. In and of itself this might seem innocuous enough for us Continue Reading
The United States Treasury Department granted Chevron another three-month sanction waiver to continue operating in Venezuela, Reuters reported Sunday, with the expiry date of this latest extension set for April Continue Reading
There will be more action by the United States to support Venezuelan opposition leader Juan Guaido, U.S. Secretary of State Mike Pompeo said on Monday, after meeting with Guaido on Continue Reading
The world’s newest oil frontier, Guyana, has officially shipped its very first batch of crude oil on Monday, according to TankerTrackers.com—a major oil-first for the South American country. The first Continue Reading
The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro. Guaido turned up Continue Reading
An oil rig in Guanabara Bay, Brazil, June 2015 On January 7, the oil and gas companies Apache Corporation and Total SA announced a major oil find off the coast Continue Reading
The US government has given Venezuelan-owned, Texas-based oil refiner Citgo another three-month lifeline, protecting it from creditors who are trying to seize it in compensation for missed debt repayments. In a Continue Reading
Venezuelan President Nicolás Maduro cast himself as the wily survivor of a dramatic, year-long struggle by the opposition at home and its allies in Washington to unseat him, and said Continue Reading
The discovery of the Maka field in offshore Suriname will become one of the main upstream stories of 2020, bringing Suriname onto the international oil map, potentially spawning a new Continue Reading
U.S. Secretary of State Mike Pompeo said on Sunday he looks forward to meeting with Venezuelan opposition leader Juan Guaido on Monday in Bogota at a regional counter-terrorism conference. “We Continue Reading
There’s only one path to rebuilding Venezuela, and it’s paved with oil. For the time being, that path leads nowhere. The key to controlling everything now lies with the National Continue Reading
A leading oil union in Neuquen, Argentina’s biggest oil basin, is threatening to go on strike if companies lay off even one worker, a situation that could hit crude and Continue Reading
The United States on Monday imposed sanctions on seven Venezuelan politicians it said led a bid by President Nicolas Maduro to wrest control of the country’s congress from U.S.-backed opposition Continue Reading
Chile’s environmental regulator on Monday charged state oil company ENAP with improper fracking in Tierra del Fuego, a wild, largely unpopulated region at the southern fringe of the South American Continue Reading
From his palace in Caracas, President Nicolás Maduro projects an image of strength and his grip on power appears secure. Residents have a regular supply of electricity and gasoline. Shops Continue Reading
Argentinian President Alberto Fernandez said he plans to encourage the development of conventional oil and natural gas reserves, not just the shale resources in the huge Vaca Muerta play. “There Continue Reading
