China has announced that it will impose taxes on heavy sour crude, a move that could hit Venezuela hard as it continues to struggle with U.S. sanctions and a dilapidated Continue Reading
The death toll from COVID-19 in Latin America and the Caribbean passed 1 million people on Friday, according to a Reuters tally, with the pandemic worsening in the part of Continue Reading
Protests and civil dissent are once again sweeping across Latin America, a region infamous for its political instability and economic inequality. While Colombia’s security crisis is threatening the strife-torn country’s Continue Reading
The near failure of the Venezuelan state, caused by the breakdown of the country’s oil industry, has triggered the second worst humanitarian crisis of the 21st century. While the collapse Continue Reading
Venezuelan farmer Agustin Zenere should have been planting corn by the second week of May – a crucial task in the economically devastated South American country where 7 million people Continue Reading
Colombia’s oil industry is yet again under considerable pressure, despite the national government in Bogota attempting to reactivate the economically crucial sector. The March 2020 oil price crash, COVID-19 pandemic, Continue Reading
In the space of less than a decade Venezuela’s once-mighty oil industry, the petrostate’s economic backbone, has nearly collapsed. Since Maduro’s predecessor Chavez took power in 1999 and launched his Continue Reading
ExxonMobil has revised upward its 2025 crude oil production in Guyana on the back of its fourth deepwater project there. Under new estimates, Exxon expects to produce 800,000 bpd by Continue Reading
Nowadays one of the main buzz stories of the crude market has been focusing on Indian oil demand slumping as a consequence of the COVID-19 surge. As painful as India’s Continue Reading
Venezuela, in the midst of a humanitarian crisis of epic proportions, would need $58 billion to return its oil industry to its former glory and 1998 production levels, according to Continue Reading
NEW YORK— Steven Donziger once stood to gain hundreds of millions of dollars for winning a $9.5 billion environmental-contamination verdict against Chevron Corp. CVX -0.41% in Ecuador. Now, that judgment has been discredited, Mr. Donziger Continue Reading
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America. Continue Reading
Venezuela’s oil exports are hanging tough around 700,000 bpd, where they have been for the last three months, according to tanker tracking data and PDVSA documents cited by Reuters . Continue Reading
Once again, for the third time in less than two years, Colombia is saturated by protests sparked by President Ivan Duque’s proposed tax reforms which are aimed at stabilizing government Continue Reading
For most of this month, intensive care units across Brazil were at or near capacity amid a crush of COVID-19 patients, and sedatives needed to intubate patients dwindled. The nation’s Continue Reading
The giant U.S. oil company objected last June when Washington proposed allowing duty-free rose imports from the world’s poorest countries, including Ecuador. A decade earlier, an Ecuadorean court had blamed Continue Reading
Despite lengthy lockdowns and closed borders across South America, the continent is one of the worst affected by the COVID-19 pandemic. Three countries, Brazil, Argentina and Colombia rank among the Continue Reading
A few weeks before Christmas, Venezuela’s president Nicolås Maduro made a major announcement about his plans to tackle coronavirus. His vice-president, Delcy Rodriguez, had just arrived back from Moscow bearing Continue Reading
A group of American oil executives held in a crowded Venezuelan prison were released to house arrest Friday, according to a person briefed on the negotiations. The employees of Houston-based Continue Reading
Venezuela’s attorney general said on Thursday that 10 officials from state-owned oil company Petroleos de Venezuela (PDVSA) were arrested for allegedly diverting and selling some 3 million liters (792,516 gallons) Continue Reading
If the world doesn’t stop the region’s surging caseload, it could cost us all that we’ve done to fight the pandemic, one health official said. In the capital of Colombia, Continue Reading
Washington’s focus on disrupting narco-trafficking in Latin America, through a combination of coca crop eradication, enforcement and seizures is placing pressure on criminal organizations to find other sources of income. Continue Reading
Venezuelan Defense Minister Vladimir Padrino said on Wednesday that eight soldiers were killed in combat amid continuing clashes between the armed forces and illegal armed groups along the border with Continue Reading
Brazil’s health regulator cited safety concerns while rejecting several states’ requests to import almost 30 million doses of Russia’s Sputnik V vaccine, prompting criticism from the Russian government. The five-person Continue Reading
ExxonMobil and its partner Hess announced on Tuesday a new oil discovery in the Stabroek Block offshore Guyana that would add to the already announced 9 billion oil-equivalent barrels in Continue Reading
Crude oil production in Brazil averaged 2.8 million barrels daily in the first quarter of 2021, the country’s National Petroleum Agency reported, as quoted by Reuters. This was down 6 Continue Reading
Venezuela is crafting an emergency plan to guarantee diesel supply to farmers but with reduced price subsidies. Oil minister Tareck El Aissami and agriculture minister Wilmar Castro have been tasked Continue Reading
As Guyana prepares to become a major oil production nation the spotlight is firmly on the Guyana-Suriname Basin and the former British colony’s neighbor Suriname. After decades of poor drilling Continue Reading
Military strikes in southwestern Venezuela and the resultant surge of refugees into neighboring Colombia have sparked renewed claims that the autocratic Maduro regime in Caracas is a major destabilizing force Continue Reading
Rail-thin teenagers hold placards at traffic stops with the word for hunger — fome — in large print. Children, many of whom have been out of school for over a Continue Reading
President Joe Biden’s climate summit of 40 world leaders this week will be Brazilian President Jair Bolsonaro’s “ last chance ” to restore Washington’s confidence in Brazil’s commitment to taking Continue Reading
The tiny South American nation of Guyana is poised to become one of the leading offshore drilling jurisdictions in South America. Global energy supermajor Exxon, has established a dominant foothold Continue Reading
During a difficult 2020, Brazil’s hydrocarbon sector demonstrated its resilience in the face of a price crash and the COVID-19 pandemic. Even those events along with heightened geopolitical risks and Continue Reading
U.S. refiners were forced to source their heavy crude from somewhere else after the United States sanctioned Venezuelan crude oil. Now, U.S. refiners may again be forced to resource crude Continue Reading
Venezuela’s state-owned PDVSA has started a maintenance shutdown of its Petropiar oil field located in the Ayacucho block in the Orinoco Belt, according to a technical report reviewed by S&P Continue Reading
Vaca Muerta, the biggest shale play in Argentina, is poised for growth in oil and natural gas production and exports as proposed legislation is expected to improve investment conditions, but Continue Reading
The COVID-19 pandemic has hit Colombia and its economy, including the vital energy sector, particularly hard. After implementing one of the world’s longest pandemic lockdowns during 2020, which took the Continue Reading
The International Monetary Fund won’t hand over $5 billion of special drawing rights to Venezuela to bolster its reserves as part of a massive injection of resources to member nations, Continue Reading
Shell plans to carry out a drilling campaign offshore Brazil in the second half of 2021, Shell Brasil President Andre Araujo said April 16. Receive daily email alerts, subscriber notes Continue Reading
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in country, according to natural resources Continue Reading
Pampa Energia, the fifth-biggest natural gas producer in Argentina, is taking its first steps to produce oil from the Vaca Muerta shale play while also stepping up gas output on Continue Reading
Conservative candidate Guillermo Lasso, 65, won the presidential election in South American oil producer Ecuador, and said he would propose new oil deals to private oil companies. Lasso won the Continue Reading
Ecuador’s beaten-down petroleum industry has been struggling to recover from a savage 2020 where pipeline failures, the COVID-19 pandemic, corruption scandals , and heightened political uncertainty sharply impacted operations. There Continue Reading
Argentina’s oil and natural gas output could begin to fall in the next few days if protesting health workers and truckers continue to block access to fields in Vaca Muerta, Continue Reading
Crude oil prices had a rocky start to 2021. There are plenty of wildcards which will continue to fuel price volatility for the foreseeable future, the most notable being supply Continue Reading
Matias Kulfas Argentina’s government is pushing for long-term oil price controls as the South American nation runs out of time to unearth a shale trove in Patagonia. The idea of Continue Reading
Over the last decade it has been a wild ride for Ecuador’s trouble-plagued but economically crucial oil industry. Former president Rafael Correa’s heavy-handed policies, centered around oil nationalism and greater Continue Reading
Public health experts are raising alarm over Brazil this week, as the pandemic-hit nation has reached several grim coronavirus milestones, including a record number of deaths and the possible spread Continue Reading
Brazil’s brutal surge in COVID-19 deaths will soon surpass the worst of a record January wave in the United States, scientists forecast, with fatalities climbing for the first time above Continue Reading
Fracking activity in Vaca Muerta, the biggest shale play in Argentina, rose 7% to 733 frac stages in March from the previous month, reaching the highest level on record as Continue Reading
