Colombia country is facing its worst economic catastrophe of modern times because of the global COVID-19 pandemic. The IMF believes that the strife-torn Latin American country’s economy will shrink by Continue Reading
After five years of plunging oil production and experiencing the near-collapse of its economically crucial petroleum industry and the worst peacetime economic crisis of the modern age, there are signs Continue Reading
The COVID-19 pandemic had a sharp impact on oil prices, creating considerable uncertainty over the outlook for energy demand around the globe. The ongoing global crude oil supply glut and Continue Reading
In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s Continue Reading
The U.S. government this week extended the term of a protection measure against Citgo creditors until July next year, Reuters has reported , noting the measure effectively bars creditors from Continue Reading
(1) Pre-Covid .. Fig 1: Oil production and peak years Production peaked 2015 due to Venezuela’s production collapse. Brazil’s production has not yet peaked but is unlikely to offset Venezuela’s Continue Reading
Colombia’s oil sector in 2021 is expected to see a continuance of Covid-19’s dampening effects that beset it in 2020, according to industry leaders and analysts. Receive daily email alerts, Continue Reading
Average Panama Canal passage wait times for Asia-bound LNG tankers from the US Gulf Coast without reservations are up to 13 days, the Panama Canal Authority has reported. Receive daily Continue Reading
The Liza-1 well in the Stabroek Block offshore Guyana is pumping oil at a rate of 120,000 barrels per day, Exxon has announced, in a belated achievement of its target Continue Reading
A string of crises has engulfed Peru, Latin America’s sixth-largest economy, since the start of 2020. If the marked impact of the COVID-19 pandemic on Peru were not enough, it Continue Reading
