Spills In Venezuela Offer A Bleak Vision Of An Oil End
(Bloomberg, 15.Dec.2020) — Tropical rains have washed away most outward traces of the oil spill that ravaged Rio Seco this fall. But the fishing village in the shadow of Venezuela’s...
Biden Presidency To Reset US Sanctions Focus
(Argus, 14.Dec.2020) — Washington's failure in the past two years to force regime change in Caracas by means of severe sanctions gives the incoming US administration of president-elect Joe Biden...
Agbami Key Sticking Point In OPEC+ Compliance
(Argus, 11.Aug.2020) — Nigeria's full compliance to the OPEC+ deal hangs on a key oil grade being treated as a condensate. Since OPEC+ allowed ultra-light oil to be exempt from...
Argentine Court Rejects Ecuadorian Judgment Against Chevron
(Chevron, 31.Jul.2020) — Argentina’s highest court unanimously rejected the plaintiffs’ final bid to enforce a fraudulent $9.5 billion Ecuadorian judgment against Chevron Corporation. This is the latest in a string...
Chevron’s 2Q:20 Results, Venezuela Impairment
(Chevron, 31.Jul.2020) — Chevron Corporation reported a loss of $8.3 billion ($(4.44) per share - diluted) for second quarter 2020, compared with earnings of $4.3 billion ($2.27 per share -...
Chevron Expects To Restart Train 2 Of Gorgon LNG Plant
(Reuters, 28.Jul.2020) — Chevron Corp expects to restart Train 2 of its Gorgon liquefied natural gas (LNG) plant in Australia in early September after completing repairs, a company spokesman said...
Sasol Sells Escravos GTL Plant In Nigeria To Chevron
(Sasol, 1.Jul.2020) — Sasol and Chevron have signed an agreement that will result in Sasol selling its indirect beneficial interest in the Escravos GTL (EGTL) plant in Nigeria to Chevron....
Argentina Puts Damper On Oil Demand, Production
(S&P Global Platts, 26.Jun.2020) — Argentina has extended a 99-day-old economic lockdown for three more weeks to try to contain a surge in coronavirus cases, including by tightening restrictions on...
End Of Venezuela’s Oil Fortune Looms Over Maduro
(Bloomberg, 20.Jun.2020) — Oil revenue, the financial lifeline of Venezuela, is quickly drying up, adding to the growing instability of Nicolas Maduro’s embattled regime. Crude exports that once accounted for...
Suriname Beckons Oil Drillers Ahead Of Poll Result
(Argus, 3.Jun.2020) — Suriname is edging closer to a change of government that could pave the way for expanded offshore oil exploration. The South American country is hoping to emulate...
Korean Delegation Visits Vaca Muerta Formation
(Energy Analytics Institute, 19.May.2020) — Korean Ambassador Jang Myung-soo visited the Loma Campana field, where production comes from the Vaca Muerta formation, together with personnel from state controlled YPF, as...
YPF Names New CEO As Vaca Muerta Faces Setback
(Upstream, 1.May.2020) — Argentine oil company YPF has appointed industry veteran Sergio Affronti as chief executive, replacing Daniel Gonzalez, amid headwinds from the coronavirus pandemic and the collapse in oil...
Venezuela’s Oil Output Could Fall Again Soon
(Oilprice.com, 23.Apr.2020) — On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela that they had until December to wind down operations in the country. The...
Chevron Barred From Drilling In Venezuela
(Reuters, 22.Apr.2020) — Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are “mothballed” as the Trump administration cracks down on money going...
Chevron In Effect Barred From Venezuela
(Bloomberg, 21.Apr.2020) — Chevron Corp. will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as U.S. President Donald Trump...
Trump Tells Chevron To “Wind Down” In Venezuela
(AP, 21.Apr.2020) — The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling...
US Reviews Need For Venezuela Waivers: Update
(Argus, 16.Apr.2020) — The US is rethinking the premise behind its earlier decision to allow Chevron and other US and international firms to continue their presence in Venezuela, as it...
YPF Slashes Vaca Muerta Output: Rio Negro Reports
(Reuters, 9.Apr.2020) — Argentine state energy firm YPF has cut production by around half at its giant Vaca Muerta shale development Loma Campana due to a slump in demand amid...
Venezuela Gasoline Shortages Worsen
(Reuters, 8.Apr.2020) — Gasoline shortages in Venezuela are worsening after U.S. officials have told foreign firms to refrain from supplying the fuel to the sanctioned South American nation and only...
Venezuela Brushing Aside Oil Price Signals For Now
(Argus, 2.Apr.2020) — Venezuela's crude production partially recovered to around 700,000 b/d at the end of March, but state-owned PdV and its foreign partners cannot afford to dismiss weaker price...
Chevron’s Venezuela Oil JVs Cut Fieldwork
(Reuters, 31.Mar.2020) — Chevron Corp’s joint ventures with Venezuelan state oil company Petroleos de Venezuela have cancelled service contracts and procurement processes in recent weeks, three people with knowledge of...
Venezuela’s Oil Output Falls To Five-month Low
(Reuters, 30.Mar.2020) — Venezuela’s crude production ended last week at around 670,000 barrels per day (bpd), according to documents seen by Reuters and two people with access to output data,...
US Targets Maduro Regime With Fresh Charges
(WSJ, 22.Mar.2020) — The U.S. quietly unsealed criminal cases against two former officials at Venezuela’s state oil monopoly this month as part of what American officials say is a new...
Venezuela Cause Drifting Off International Agenda
(Argus, 10.Mar.2020) — Venezuela's US-backed opposition is scrambling to stay relevant at home and abroad as the US and other foreign patrons turn inward to focus on slowing the spread...
Is 2020 The Year For Regime Change In Venezuela?
(FT, 7.Mar.2020) — There have been enough false dawns in Venezuela to deter any confident predictions but a series of developments — all energy related — suggest that 2020 could...
Petroboscán Advancing With Materials Warehouse
(Energy Analytics Institute, Piero Stewart, 29.Feb.2020) — The Petroboscán joint venture, which partners Venezuelan Petroleum Corporation (CVP) and Chevron Corp., is advancing with a management and optimization project related to...
Trump Wants Pressure Raised On Maduro
(Bloomberg, 21.Feb.2020) — President Donald Trump is frustrated that pressure is building too slowly on Venezuelan President Nicolas Maduro and is still considering military options in the country, including a...
Latest Rosneft Sanctions Raise Risks For Others
(Reuters, 19.Feb.2020) — Washington’s move this week to sanction a trading unit of Russian oil giant Rosneft for its ties with Venezuela’s state-run PDVSA escalated threats facing non-U.S. firms and...
Could Rosneft Sanctions Signal End To Chevron’s Venezuela Waiver?
(S&P Global Platts, 18.Feb.2020) — The Trump administration's decision to sanction Rosneft's trading arm Tuesday may be a sign that Chevron's waiver allowing it to continue its work in Venezuela...
Rowley Comments On Loran-Manatee Deal
(Office of the PM of Trinidad and Tobago, 7.Feb.2020) — Trinidad and Tobago’s Prime Minister the Honourable Keith Rowley provided details related to the agreement for the development of the...
Beyond The Dragon Deal
(Trinidad Newsday, 5.Feb.2020) — One of the biggest lessons we can take away from the pausing of the landmark cross-border agreement between TT and Venezuela is how our interests are...
Argentina President Sees Potential In Conventionals
(S&P Global Platts, 13.Jan.2020) — Argentinian President Alberto Fernandez said he plans to encourage the development of conventional oil and natural gas reserves, not just the shale resources in the...
PDVSA’s Partners As Oil Traders Amid Sanctions
(Reuters, 13.Jan.2020) — Venezuela, its oil exports decimated by U.S. sanctions, is testing a new method of getting its crude to market: allocating cargoes to joint-venture partners including Chevron Corp,...
Maduro Seeks Oil Contract Changes: Lawmakers
(Reuters, 8.Jan.2020) — Venezuela’s ruling Socialist Party hopes legislators it recently declared to be in charge of congress will approve changes to ownership of some crucial state oil assets, five...
Guaido Survival Likely To Buy Chevron More Time
(Argus, 7.Jan.2020) — The White House appears likely to extend a waiver for Chevron to operate in Venezuela after US-backed opposition leader Juan Guaido overcame a government-backed rival to retain...
US Considering More Venezuela Sanctions
(S&P Global Platts, 6.Jan.2020) — The US may respond to escalating political disarray in Venezuela by allowing a sanctions waiver for Chevron and four US oil services companies to expire...
PDVSA, Partners Produce 500,000 b/d Of Orinoco Crude
(S&P Global Platts, 17.Dec.2019) — Production levels by Venezuelan state-owned PDVSA and its international partners in the Orinoco Belt rose to 500,000 b/d, or 38.5% of its 1.3 million b/d...
Quality Testing Guyana’s First 3 MMbbls
(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed...
Venezuela Oil Output Rises
(Reuters, 10.Dec.2019) — Venezuela’s crude output in November jumped more than 20% from the prior month to the highest level since the United States tightened sanctions on state oil company...
Pemex Cyberattack Has US Cos. Taking Precautions
(Chron.com, Sergio Chapa, 25.Nov.2019) — American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers...
Ecopetrol Finds Oil In GOM Deep Waters
(Ecopetrol, 7.Nov.2019) — Ecopetrol reports that its US subsidiary, Ecopetrol America LLC, has participated in the drilling of the Esox-1 well under a Farmout Agreement with Chevron U.S.A. Inc. The...
Ali Moshiri Seeks $500mn For Post-Sanctions Venezuela
(Reuters, Jennifer Hiller, 21.Oct.2019) — The former chief of Chevron Corp’s Latin American operations is moving to raise $500 million from big financial firms to invest in Venezuela once U.S....
Chevron Grabs 5 Blocks In ANP’s 16th Bid Round
(Chevron, 10.Oct.2019) — Chevron Brasil welcomes the results of Brazil’s 16th Bid Round. We are pleased to be part of the following five successful consortia, including two as the operator: ...
ANP 16th Round Attracts Record R$8.9bn Signings
(ANP, 10.Oct.2019) — The 16th Bidding Round collected R$ 8.9 billions in signature bonuses, a record value among the concession rounds already held in Brazil. The round will generate investments...
Reliance To Resume Venezuela Oil Loadings
(Reuters, Marianna Parraga, 9.Oct.2019) — Indian refiner Reliance Industries Ltd is scheduled to resume loading Venezuelan crude in October after a four-month pause, according to sources and internal documents from PDVSA...
Brazil Approves 14 Firms For November Oil Tender
(Reuters, 30.Sep.2019) — Fourteen companies have been officially approved by Brazilian authorities to participate in an oil bidding round in November, in which total signing bonuses are expected to be the...
Exxon, Chevron See U.S. Shale Field Consolidation
(Reuters, 4.Sep.2019) — The two largest U.S. oil and gas companies on Tuesday left the door open for more acquisitions in the country's top shale field. Exxon Mobil Corp expects...
Venezuelan Oil Exports At Lowest Level In 2019
(Reuters, Marianna Parraga, Mircely Guanipa, 3.Sep.2019) — Venezuela’s oil exports fell in August to their lowest level in 2019, internal reports and Refinitiv Eikon data showed, hurt by a halt...
Fact Box: PetroRio’s Frade And Polvo Fields
(PetroRio, 15.Aug.2019) — Details of PetroRio’s Frade and Polvo Fields in Brazil. Frade Field The Frade Field is located in deepwaters of Campos Basin, about 125km from the city of...
Trump Govt Split Over Chevron’s Venezuela License
(Reuters, Timothy Gardner, 26.Jul.2019) — The Trump administration is split over whether to renew a license this week for energy company Chevron Corp's operations in Venezuela, with Secretary of State...
Chevron To Keep Drilling In Venezuela Despite Sanctions
(Reuters, 26.Jul.2019) — The administration of United States President Donald Trump said on Friday that it has renewed Chevron Corp's licence to drill for oil and gas in Venezuela despite...
Chevron In Crosshairs As Trump Exerts Maximum Pressure On Maduro
(Bloomberg, Kevin Crowley, Lucia Kassai and Kevin Cirilli, 25.Jul.2019) — Pressure is mounting on U.S. President Donald Trump to end Chevron Corp.’s 100-year presence in Venezuela as he seeks to exert...
Chevron Call To Chart Venezuela Sanctions
(Argus, 25.Jul.2019) — A US government decision over Chevron's expiring license to work in Venezuela is the first test of its willingness to ease sanctions that have so far failed...
Guaido Says To Protect Chevron Assets In Venezuela
(Reuters, Luc Cohen) — Venezuelan opposition leader Juan Guaido said on Tuesday he would seek to protect Chevron Corp’s assets in the country if the United States does not renew...
Brazil Approves Transfer Of Saturno Stake To Ecopetrol
(Ecopetrol, 18.Jul.2019) — Ecopetrol S.A. said the Ministry of Mines and Energy of Brazil has authorized the transfer of a 10% stake in the Saturno block, located in the Santos...
Sanctions Squeeze Venezuela’s EHCO Output
(Petroleum Economist, 18.Jul.2019) — Latin America's economically troubled oil giant faces the difficult task of significantly raising Asian crude grades. Venezuela's upgraders have been forced to stop upgrading extra-heavy crude...
Chevron Seeks Relief From Trump’s Venezuela Oil Sanctions
(Bloomberg, Fabiola Zerpa, Peter Millard and Kevin Crowley, 2.Jul.2019) — Chevron Corp. is lobbying the U.S. for sanctions relief so it can continue doing business in oil-rich Venezuela where President...
Venezuela Reshifts Oil Output
(Reuters, Marianna Parraga and Luc Cohen, 28.Jun.2019) — Venezuelan state oil firm PDVSA is revamping one of its major processing operations geared to supplying U.S. buyers to produce instead a...
Trinidad Moves Past Venezuela To Tap Border Gas
(Argus, 11.Jun.2019) — Trinidad and Tobago has cleared Shell to develop the country's side of a shallow-water natural gas field that straddles the maritime border with Venezuela, prime minister Keith...
Canacol Energy: 42% FFO Jump, Poised To Grow Further
(Seeking Alpha, Vasily Zyryanov, 24.May.2019) — Canacol Energy, Toronto-listed and Colombia-focused natural gas producer, has recently presented its Q1 results and impressed investors with robust revenue and a 42% funds...
Equinor Boosts Stake In Caesar Tonga Field In Deepwater US GOM
(Equinor, 13.May.2019) — Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of...
WoodMac: Chevron Exits Bidding War For Anadarko
(WoodMac, 9.May.2019) — Chevron Corporation today announced that it would not offer a counter proposal to Occidental Petroleum's rival bid to acquire Anadarko Petroleum. Earlier this week, Anadarko said it...
Oxy’s $8.8bn Total Deal ‘May Soothe Anadarko Shareholder Jitters’
(WoodMac, 6.May.2019) — In another bold move in its takeover battle with Chevron for Anadarko Petroleum, on 5 May said Occidental Petroleum entered into a binding agreement to sell Anadarko’s...
Ecopetrol Updates Details of Farm-in To Saturno Block In Brazil
(Energy Analytics Institute, Aaron Simonsky, 3.May.2019) — Colombia's state oil company Ecopetrol reportedly has updated on its farm-in in the Saturno block in Brazil. Partners in the block include: Ecopetrol...
Petrobras Completes Pasadena Refinery Sale To Chevron
(Petrobras, 1.May.2019) — Petrobras, following up on the release disclosed on 01/30/2019, informs that it has completed, through its subsidiary Petrobras America Inc. (PAI), the sale to Chevron USA Inc....
Venezuela’s Oil Industry Implosion Reaches Chevron
(Oilprice.com, Tsvetana Paraskova, 25.Apr.2019) — Massive blackouts in Venezuela in March and April have drastically reduced oil production at Chevron’s biggest oil joint venture in the country, Bloomberg reported on...
Occidental Makes US$38bn Rival Bid For Anadarko
(WoodMac, 24.Apr.2019) — Occidental Petroleum today put forward a rival bid to acquire Anadarko Petroleum for US$38 billion, surpassing Chevron's US$33 billion offer earlier this month. Occidental proposes paying US$76...
Shell Strikes Big Oil In Blacktip Well Of Gulf Of Mexico
(Reuters, 24.Apr.2019) — Royal Dutch Shell’s U.S. unit said on Wednesday that it had made one of its biggest oil discoveries in the Blacktip deepwater well in the U.S. Gulf...
Why The Argentinian Shale Boom Isn’t Taking Off
(Oilprice.com Irina Slav, 22.Apr.2019) — The Vaca Muerta shale play in Argentina has been a hot spot in global oil and gas for the past few years after exploration suggested...
Chevron To Gain Anadarko’s Offshore Guyana Oil Assets After Takeover
(Stabroek News, 14.Apr.2019) — Guyana could see oil exploration activity in the ultra-deepwater region picking up pace in the near future with United States oil giant Chevron set to buy...
Chevron Buys Anadarko In $50bn Cash-And-Stock Deal
(WoodMac, 12.Apr.2019) — Commenting on Chevron’s US$50 billion cash-and-stock acquisition of Anadarko, Roy Martin, senior analyst, corporate analysis, said: “This is the biggest upstream deal since Shell and BG in...
LatAmNRG Colombia M&A Briefs: Chevron Eyes Yumbo, Buenaventura Terminals
(Energy Analytics Institute, Piero Stewart, 1.Apr.2019) — Heard on the street and LatAmNRG briefs related to US-based Chevron’s dealings to acquire the Yumbo and Buenaventura terminals and Terpel's plans to...
IEEFA Report: Argentina’s Vaca Muerta Patagonia
(IEEFA, 21.Mar.2019) — The Vaca Muerta oil and gas project, which promises to double oil and gas production over the next six years in Argentina, is facing such strong headwinds...
Venezuela’s Oil Re-opening Unlikely Before 2024
(Argus, 14.Mar.2019) — Venezuela’s political opposition is proposing a comprehensive oil reform that would allow foreign investors to own up to 100pc of oil assets from the wellhead to the...
Ecuador To Clean Up Texaco’s Decades-old Amazon Spill
(UPI, 6.Mar.2019) — Ecuador will clean areas of its Amazon region that were polluted decades ago by Texaco in a move criticized by activists who fear too little will be...