Two Citgo Boards Fight Over $57M On Stranded Oil Tanker
The two boards of Venezuela-owned refiner Citgo are fighting over the ownership of $57 million worth of crude oil stranded at sea, Reuters reports, adding the amount of oil in Continue Reading
Petrobras To Put More Key Oil Assets Up For Sale
Brazil’s state-run oil company, Petroleo Brasileiro SA, hopes to boost its value by nearly 50 percent by 2021, in part by putting more offshore oilfields up for sale. The oil Continue Reading
Ecuador discussing keeping its OPEC membership: sources
Ecuador may reconsider leaving OPEC, but a decision may not be made by the oil producers’ organization’s meeting this week in Vienna, sources familiar with the deliberations told S&P Global Continue Reading
Maduro Spent $5 Billion On Oil Deals As Venezuelans Went Hungry
Nicolas Maduro’s regime in Venezuela has spent US$5 billion worth of oil to reduce its debt to Russia and China and to send oil to Cuba, while leaving Venezuelans without Continue Reading
Venezuelan oil sector recovery will take years: US State Department official
While the US is allowing Chevron and four US oil companies to continue to operate in Venezuela to prevent the complete collapse of the South American nation’s oil sector, recovery Continue Reading
Exclusive: Facing U.S. sanctions, Venezuela offers suppliers payment in Chinese yuan – sources
Venezuela’s government and its oil company PDVSA have offered to pay suppliers and contractors into accounts in China using the yuan currency, five people familiar with the matter said. The Continue Reading
New Oil Finds Could Mean a Tripling of Guyana’s GDP, but Can the Country Avoid the Resource Curse?
This year, ExxonMobil announced its 11th and 12th oil finds in the small South American country of Guyana. The estimates of recoverable crude in the country now stand at roughly 5 Continue Reading
Brazil Aims For $18 Billion From Its Sale Of Key Refinery Assets
Petrobras is launching the binding phase of the sale of four refineries out of eight that it has earmarked for divestment, the Brazilian state-held energy firm said in a statement. Continue Reading
Brazil subsalt production-sharing fields to pump 3.9 million b/d by 2031: management company
Oil companies to install 28 new FPSOs in 2020-2032 Peak development activity expected in mid-2020s Investments total $135 billion for FPSOs, wells, subsea lines Output from oil fields in Brazil’s Continue Reading
China’s imports of Saudi Arabian crude hit new high, Venezuelan inflows vanish
China’s crude imports from Saudi Arabia surged 76% year on year to hit new high of 1.99 million b/d in October, while there were no arrivals from Venezuela in the Continue Reading