The European Union on Monday imposed sanctions on 19 more officials in Venezuela accused of undermining democracy or rights abuses in the crisis-torn South American country. EU foreign ministers targeted Continue Reading
In a surprise move, President Biden has withdrawn U.S. support for a Saudi-led military campaign against Houthi rebels in war-torn Yemen, describing the country’s bitter civil war as a humanitarian Continue Reading
Aframax Caribbean-USGC runs down 75% in 2020 from 2016 Sanctions lifting would release 500,000 b/d of crude Guyana provides potential return of Caribbean Suezmax business A partial easing of US Continue Reading
Venezuela has jailed for five years two former managers at its state oil firm PDVSA for providing sensitive data about Venezuelan oil operations to the United States, Venezuela’s attorney general Continue Reading
Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Continue Reading
Average crude output by Venezuela’s state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by Continue Reading
Chevron and Reliance Industries are meeting with US State Department officials to request a rollback of some Trump-era restrictions against Venezuela’s oil industry. (Bloomberg) — Chevron Corp. and Reliance Industries Continue Reading
Despite outside assistance from Russia, China and Iran, the embattled socialist regime of President Maduro has proven incapable of rebuilding Venezuela’s once-mighty petroleum industry. According to the latest OPEC Monthly Continue Reading
January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is hardly surprising, Continue Reading
The country with the largest proven oil reserves in the world, clocking in at a whopping 299,953,000,000 barrels of proven oil, is currently suffering a fuel shortage so great that Continue Reading
