Shell Plans to Invest $10 Billion in Brazil Over Next Five Years
Oil major Shell is planning to continue investing heavily in Brazil as part of a bid to double its global deep water production by the early 2020s. Shell plans to Continue Reading
Petrobras posts surprising loss amid massive asset impairments
Brazilian state-controlled oil company Petróleo Brasileiro SA posted an unexpected third-quarter loss on Thursday after drastically reducing the value of oil fields and other assets amid a severe downsizing and Continue Reading
Petrobras to Cut Gasoline and Diesel Prices
Brazilian state-run oil company Petróleo Brasileiro SA said Tuesday it has decided to reduce prices for gasoline and diesel, after more than a year of using its near-monopoly in the Continue Reading
PDVSA Pipeline Spill Affects Drinking Water
An oil spill in Venezuela’s Anzoategui State has affected drinking water across a 31-mile radius, PDVSA confirmed on Monday. Anzoategui State is known for its beautiful coastline that makes up Continue Reading
Venezuelan Opposition Tries ‘Birther’ Tack Against President Nicolás Maduro
Venezuelan President Nicolás Maduro dancing the salsa, an ability his supporters cite as evidence of… CARACAS, Venezuela—Call it Venezuela’s own birther movement. Desperate to end 18 years of Socialist rule, Continue Reading
Brazil Oil And Gas Production Reach Record Highs In September
The Brazilian government on Friday reported that its oil and gas production rose to record levels in September with a total oil equivalent of 3.36 million barrels per day (bpd). Continue Reading
Venezuela’s PDVSA reaches $1.45 billion in finance deals with oil firms
Venezuelan state oil company PDVSA on Friday announced financing deals totaling nearly $1.45 billion with local firm Delta Petroleum and India’s ONGC that will be used to raise production at Continue Reading
Panama Canal to recognize ships with high environmental efficiency: ACP
The Panama Canal Authority (ACP) has launched the Environmental Premium Ranking, a new initiative to reward shippers with vessels meeting high environmental efficiency standards starting January 1, 2017. The new Continue Reading
Venezuelan crude sales to the United States tumbled 23 percent in October
Sales of Venezuelan crude to the United States fell 23 percent in October to 601,605 barrels per day (bpd) due to fewer shipments of diluted oil from the country’s main Continue Reading
Venezuela opposition gives Maduro until Nov. 11 to meet demands
Venezuela’s opposition exhorted President Nicolas Maduro on Thursday to set an election and start releasing jailed activists within days, while students opposed to Vatican-led talks protested in the streets. The Continue Reading