Much has been made of President-elect Joe Biden’s energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive a global oil Continue Reading
Like many global oil majors ExxonMobil is under considerable pressure because of the significant fallout from the COVID-19 pandemic, sharply weaker oil prices and the threat of peak oil demand. Continue Reading
Crude oil output from fields operated by Brazil’s state energy major Petrobras hit a record last year despite the pandemic, at an average 2.3 million bpd, Bloomberg reported , comparing Continue Reading
Chanting anti-American slogans, thousands of Iraqis converged on a landmark square in central Baghdad on Sunday to commemorate the anniversary of the killing of a powerful Iranian general and a Continue Reading
Venezuela’s rapidly disintegrating oil industry, which is the backbone of its economy, is a mere shadow of what it once was, despite the founding OPEC member possessing the world’s largest Continue Reading
Venezuela’s crude oil and refined product exports plummeted in 2020 to their lowest level in 77 years, as the U.S. continued to step up sanctions against Nicolas Maduro’s regime and Continue Reading
Venezuela’s oil industry will likely continue to deteriorate in 2021, with the country’s roughly 300 billion barrels of crude in reserves left largely untapped even if oil prices move higher, Continue Reading
Oil demand from China has been one of the few bright spots for a global petroleum industry severely impacted by a long-term global supply glut and the economic fallout from Continue Reading
Venezuelan oil exports plummeted this month as U.S. sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to Continue Reading
In January 2019, the Trump administration imposed sanctions on Venezuela’s oil shipping sector in an ongoing bid to force President Nicolás Maduro from power. The sanctions deepened Venezuela’s already severe Continue Reading
