Offshore Guyana ExxonMobil and its partner Hess Corp. have announced that the major discovery off the coast of Guyana, is a discovery that is much larger than previously expected. The Continue Reading
Crude deposit could be worth $70 billion at current prices Hess, CNOOC are partners in drilling 120 miles offshore Exxon Mobil Corp.’s oil discovery off the coast of Guyana may Continue Reading
Venezuela and Guyana dispute overlapping claims to their oil-prospective waters. (Credit: Shutterstock) Today ExxonMobil XOM +1.43% announced a big discovery at its new well offshore Guyana, called Liza-2. It builds Continue Reading
A well off the coast of Guyana holds a find that, with as much as 1.4 billion barrels of reserves, is considered transformative, Exxon Mobil said Thursday. Steve Greenlee, president Continue Reading
Note: Calculations assume export from the Sabine Pass liquefaction terminal at an average LNG Carrier speed of 19.5 knots and one-day transit time through the Panama and Suez Canals. The Continue Reading
In the darkness the warehouse looks like any other, a metal-roofed hangar next to a clattering overpass, with homeless people sleeping nearby in the shadows. But inside, workers quietly unload Continue Reading
Contractors have cut back the drilling of oil in Venezuela amid a rising unpaid debt owed to suppliers by the Latin American country’s government and state-owned producer PDVSA. As originally Continue Reading
Venezuelans ‘Live to Repair’ Following Collapse of Car Industry Dollar shortages mean even scrapyards are running out of parts Recent deals may point to revival in local car manufacturing Adolfo Continue Reading
Venezuela’s Oil Output Decline Accelerates as Drillers Go Unpaid Service companies owed more than $1 billion scale back work Crude output could decline further from a six-year low Venezuela’s oil Continue Reading
A cargo ship is pictured crossing through the Miraflores locks, a day before the inauguration of the Panama Canal Expansion project, in Panama City, Panama June 25, 2016. Panama opened Continue Reading
Venezuela’s sliding oil output may be tumbling at a rate faster than initially anticipated and production could soon reach a 27-year low. As mentioned by Argus Media on 22 June Continue Reading
The Colombian government and FARC rebels are close to ending their decades-long armed conflict following the anticipated signing of a bilateral ceasefire. The announcement of the agreement was made on Continue Reading
On June 26, the Panama Canal Authority, the body that operates the Panama Canal, will inaugurate a third set of locks, which will allow for the transit of larger ships. Continue Reading
Another airline bites the dust of Venezuela’s worsening crisis, adding to the increasingly common sight of a near-empty tarmac at the Simón Bolívar airport serving Caracas. Aeromexico, Mexico’s largest carrier, Continue Reading
Oil prices have surged by more than 80 percent since February on the back of unexpected supply disruptions. But the market could be missing yet another potential supply disruption that Continue Reading
The Organization of American States will meet Thursday to discuss the deepening crisis in Venezuela, where the opposition is pushing forward with efforts to activate a recall referendum of President Continue Reading
Venezuela is suffering the worst economic crisis in its history. Ordinary people in the oil-rich country are regularly going without food. Three-quarter empty supermarkets are being ransacked by angry, hungry Continue Reading
On July 8, 2009, the champagne finally flowed. After an intense two-year competition, a consortium led by a Spanish company in severe financial distress learned that its rock-bottom bid of Continue Reading
Venezuela has badly mismanaged its vast oil resources, a senior U.S. diplomat told Reuters in an interview on Tuesday in which he said a change in government could quickly turn Continue Reading
The new chief executive of Petróleo Brasileiro SA PBR 6.43 % has vowed to return Brazil’s troubled state oil company to “greatness,” by shedding assets—and outdated ideologies—that no longer serve Continue Reading
With delivery trucks under constant attack, the nation’s food is now transported under armed guard. Soldiers stand watch over bakeries. The police fire rubber bullets at desperate mobs storming grocery Continue Reading
Venezuelan police have arrested hundreds of people as the country’s food crisis erupted into deadly looting this week, heightening hardship and political uncertainty in the impoverished oil-producing nation. Dozens of Continue Reading
Venezuela’s Oil Minister Eulogio del Pino attends a meeting with President Nicolas Maduro at Miraflores Palace in Caracas, in this handout picture provided by Miraflores Palace on January 6, 2016. Continue Reading
Crude prices around $50 a barrel are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said Continue Reading
Whether crisis-ridden Venezuela will default is a question increasingly on the minds of bond traders. It’s now also one that is getting front-page treatment from China, one of the Latin Continue Reading
Venezuelan security forces have arrested at least 400 people after the latest bout of looting and food riots in the crisis-hit OPEC member country, local officials said on Wednesday. Another Continue Reading
Russian Energy Minister Alexander Novak said on Thursday he discussed plans for a possible oil production freeze with his Venezuelan counterpart Eulogio del Pino on the sidelines of the St Continue Reading
Latin American national oil companies need crude prices to surpass $55 per barrel to break even, a level that would allow them to invest capital enough to start reverting declining Continue Reading
Venezuela is in talks with China to obtain a grace period in its oil-for-loans deal that would improve the OPEC nation’s capacity to make bond payments amid an economic crisis, Continue Reading
The US and Venezuela announced on Tuesday they would launch high-level diplomatic talks to ease tensions in the South American country amid a deepening humanitarian crisis. John Kerry, US secretary of Continue Reading
People line up to buy toiletries in a supermarket in Caracas on Monday. (Federico Parra/AFP/Getty Images) With Venezuela spinning into chaos and collapse, the Obama administration has pondered how to Continue Reading
U.S. Secretary of State John Kerry disembarks from his airplane upon his arrival in Abu Dhabi, United Arab Emirates June 8, 2016. Venezuela and the United States will immediately start Continue Reading
Venezuela is in talks with China to obtain a grace period in its oil-for-loans deal that would improve the OPEC nation’s capacity to make bond payments amid an economic crisis, Continue Reading
Hungry Venezuelans are rioting and looting amid worsening food shortages, but the OPEC country’s remote oil fields have been sheltered from the social unrest so far. But Venezuela’s blistering economic Continue Reading
Venezuela registered its biggest monthly oil-production decline in a decade in May, according to data released Monday by the Organization of the Petroleum Exporting Countries, signaling further trouble for a Continue Reading
Venezuela’s state oil company, PDVSA, is close to reaching deals to boost Schlumberger’s presence after the oilfield services provider said in April it would reduce operations because of payment problems, Continue Reading
Image caption Venezuela’s Electoral Council President Tibisay Lucena said there were many irregularities in the petition Venezuela’s National Electoral Council (CNE) has ruled that 1.3 million people who signed a Continue Reading
One of Venezuela’s top opposition figures is warning Wall Street that a recall referendum is the only way of staving off a full-blown crisis in the South American nation already Continue Reading
Six months after the Venezuelan opposition gained control of the National Assembly, it is becoming increasingly clear that one of its primary goals — a referendum to recall the president Continue Reading
A flotilla of 21 fuel tankers from Europe, the Caribbean, Brazil and the United States is steaming toward Argentina as it ramps up imports of gasoil and liquefied natural gas Continue Reading
A Venezuelan woman died on Monday after being shot in the face when looters raided state food warehouses in the latest unrest in the crisis-hit OPEC nation, her family said. Continue Reading
Chevron offices The United States Supreme Court declined to hear an appeal lodged by the government of Ecuador that contested a $96 million arbitration settlement awarded to the American oil Continue Reading
Exxon Mobil Corp. may invest more than $10 billion in Argentina’s Vaca Muerta shale formation in the next decades, Chairman and Chief Executive Officer Rex Tillerson says. (Bloomberg) — Exxon Continue Reading
To most Venezuelans suffering food shortages, Lorenzo Mendoza and the company he runs, Empresas Polar SA, are trusted providers of everything from pasta to beer. But to an embattled populist Continue Reading
Vaca Muerta Shale Having already invested $200 million in Argentina’s Vaca Muerta shale — the world’s second-largest shale gas deposit — supermajor ExxonMobil is now saying it may invest at Continue Reading
Venezuelan security forces fired teargas at protesters chanting “We want food!” near the presidential palace in Caracas on Thursday, the latest street demonstration in the crisis-hit OPEC nation. National Guard Continue Reading
A throng of protesters demanding food made a run for the Venezuelan presidential palace on Thursday in a rare, apparently spontaneous outburst of anger at the socialist administration within the Continue Reading
Oil Tanker Venezuela Venezuela’s financial problems have become so acute that it is having trouble paying for the crude oil imports that it needs. Reuters reports that four oil tankers Continue Reading
Pacific Alliance members The rapidly shifting and challenging environment for the energy sector in Latin America offers an unprecedented opportunity for the region to rethink how it can better coordinate Continue Reading
Venezuela’s President Nicolas Maduro speaks during his weekly broadcast ”En contacto con Maduro” (In contact with Maduro) at the Miraflores Palace in Caracas, Venezuela, May 31, 2016. Miraflores Palace/Handout via Continue Reading
