Cuban oil work moves toward exploration phase
Geological surveys of an inland oil basin in Cuba are completed and work will now continue toward exploration drilling, an Australian energy company said. Melbana is one of the few Continue Reading
Brazil to ramp up oil production before ‘renewable era’ hits: official
Brazil plans to boost oil exploration and production to seize on its reserves before the world enters the “renewable era” and other technologies hurt demand for the fossil fuel, Deputy Continue Reading
The Panama Canal’s Big Bet Is Paying Off
Since the start of the year, transiting tonnage at the Panama Canal has increased by nearly 23%. Above, a ship makes its way through the locks at the Panama Canal Continue Reading
ExxonMobil ‘Puts Guyana on the Map’ with Discovery
Could ExxonMobil attain 2 billion-barrel oil reserves mark offshore Guyana? Exxon Mobil Corp. on Thursday reported its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana with the Continue Reading
Venezuela And Russia Team Up To Tackle The Petrodollar
Three weeks after the U.S. imposed financial sanctions on Venezuela in an effort to cripple its economy and choke the Maduro regime, which in turn prompted Caracas to announce it Continue Reading
Venezuela To Invite More Countries To Join Output Cuts
Up to 12 oil producing countries from South America and Africa have been invited to join the OPEC/non-OPEC production cut deal, Venezuela’s Oil Minister Eulogio del Pino said on the Continue Reading
Venezuela plans new ways to sell oil if sanctions imposed: Maduro
Venezuela has alternatives to allow it to sell oil if the US decides to imposes further sanctions on its oil sector, President Nicolas Maduro said Wednesday. “Big names are trying Continue Reading
Panama Canal Authority, shippers work to double LNG capacity
The Panama Canal Authority is working with LNG shippers towards doubling the capacity set aside for LNG vessels by next October, the PCA said Wednesday. The PCA is working towards Continue Reading
Venezuela says invited 10-12 more countries to join OPEC-led oil cut
An extra 10 to 12 oil-producing countries have been invited to join an OPEC-led output cut aimed at getting rid of a supply glut, Venezuela’s oil minister said on Wednesday. Continue Reading
Wall Street Sees ‘Existential Crisis’ as Venezuela Payday Nears
Traders fear payment delay as upcoming debt lacks grace period Default on bonds backed by Citgo would put refiner in play Venezuelan investors are getting ready for a wild ride Continue Reading