Latin America Growing More Dependent On U.S. Oil
Crude production has slowed in parts of Latin America as oil majors struggle to pump for profits. Mexico and other Latin American countries have been relying more heavily on the Continue Reading
Maduro maintains oil supplies to Cuba despite Venezuelan shortages
The price of oil is half of what Venezuela needs to feed its citizens, who for the most part do not manage to eat them three times a day, but Continue Reading
PDVSA Braces for Oil Production Drop as Default Looms Large
The recent bump in oil prices isn’t enough to help Petroleos de Venezuela SA as it faces its fourth consecutive year of declining production. The company’s crude output is expected Continue Reading
Venezuelan Credit Dashboard: Default Risk Falls Below 50%
Traders reduced their bets on a default of Venezuela’s dollar debt over the next year amid a thin repayment schedule in the first quarter. The implied probability of nonpayment over Continue Reading
Cuba oil potential estimate revised higher
Cuba-focused Melbana Energy said it more the doubled its reserve estimates for onshore oil, though recovery rates there are low so far. Melbana is one of the few Western oil Continue Reading
Lured by discounts, U.S. East Coast refiners snatch up Brazilian crude
The Philadelphia Energy Solutions oil refinery owned by The Carlyle Group is seen at sunset in Philadelphia March 26, 2014. Picture taken March 26, 2014. U.S. East Coast refiners are Continue Reading
Venezuela’s Maduro seen bolstering grip on PDVSA after shake-up
An oilfield worker walks next to pipelines at PDVSA’s Jose Antonio Anzoategui industrial complex in the state of Anzoategui, Venezuela, April 15, 2015. REUTERS/Carlos Garcia Rawlins/File Photo PDVSA’s new senior Continue Reading
Venezuela Names New Leaders At Oil Firm PDVSA To ‘Defeat Corruption’
Venezuela’s president creates an executive vice president post and names new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company. CARACAS, Jan Continue Reading
Exclusive: Millions of barrels of Venezuelan oil stuck at sea in dirty tankers
More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay Continue Reading
Tankers: Panama Canal delays reduced but still averaging three-six days
The waiting time for non-booked Panamax-class vessels on the Panama Canal is about six days, a Panama Canal Authority manager said Wednesday. “Neopanamax slots are almost 100% sold for the Continue Reading