Venezuela’s supreme court, which is controlled by President Nicolás Maduro’s socialist government, has ruled it is taking over the opposition-dominated National Assembly, sparking fears that the crisis-riven country has moved Continue Reading
Venezuela took its strongest step yet toward one-man rule under the leftist President Nicolás Maduro as his loyalists on the Supreme Court seized power from the National Assembly in a Continue Reading
Brazil is in the process of preparing two new floating production, storage and offloading vessels, or FPSOs, to start oil and natural gas production in the country’s record-setting subsalt frontier, Continue Reading
As Venezuela’s foreign currency reserves have shrunk to $10.4 billion USD , so have the country’s goods in stock, against the background of gas, energy and medicine shortages, crime rates Continue Reading
Petroleos de Venezuela SA is preparing for the departure of its president Eulogio Del Pino in what would be the biggest management shift in years for the state-owned oil producer, Continue Reading
OPEC production cuts and economic woes are complicating Schlumberger NV’s (SLB.N) efforts to collect $1.1 billion from Ecuador’s state-owned Petroamazonas, casting a cloud over the oil services company’s first-quarter results. Continue Reading
A gasoline shortage in OPEC member Venezuela was exacerbated by an increase in government-sanctioned fuel exports to foreign allies and an exodus of crucial personnel from state-run energy company PDVSA Continue Reading
Venezuela’s state oil company was rushing to replenish gasoline supplies in various neighborhoods of Caracas on Thursday morning as drivers lined up at filling stations amid a worsening shortage of Continue Reading
Venezuela’s economic crisis continues to deepen. The South American OPEC member is thought to be sitting on nearly 300 billion barrels of oil, far more than any other country in Continue Reading
Royal Dutch Shell agreed to lease capacity at a large oil terminal in Panama that has been used by U.S. refiner Tesoro Corp, sources involved in the deal told Reuters, Continue Reading
