CNPC Archives - Energy Analytics Institute (EAI)

Private Chinese firm producing oil in Venezuela under rare 20-year pact, source says

SINGAPORE/HOUSTON (By Chen Aizhu and Marianna Parraga, Reuters, 22.Aug 2025, Words: 526) — China Concord Resources Corp has begun developing two Venezuelan oilfields, planning to invest more […]

CNPC and EP Petroecuador ink deal to recondition wells offshore Ecuador in the Amistad field

PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 18.Aug.2025, Words: 305) — EP Petroecuador and the National Petroleum Corporation of China (CNPC) signed a […]

Petrobras says Búzios field surpasses record level of 900,000 b/d

SALVADOR DE BAHIA, BRAZIL (By Pedro Silva, Energy Analytics Institute, 18.Aug.2025, Words: 430) — The Petrobras-operated Búzios field set a production record and surpassed output of […]

Petrobras finds high-quality oil at Santos Basin exploration well 3-BRSA-1396D-SPS

BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 9.May.2025, Words: 238) — Brazil’s Petrobras identified the presence of high-quality oil with no contaminants in an […]

Petrobras Finds Hydrocarbons at Santos Basin Pre-salt Exploration Well 4-BRSA-1395-SPS

PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 17.Mar.2025) — Petrobras identified the presence of hydrocarbons in the 4-BRSA-1395-SPS exploratory well in the Aram block, […]

SBM says FPSO Alexandre de Gusmão leaves China for Brazil

BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 23.Dec.2024, Words: 428) — The floating production storage and offloading (FPSO) Alexandre de Gusmão has left the […]

Mero 3 FPSO Starts Production in Libra Pre-salt Offshore Brazil

(Energy Analytics Institute, 30.Oct.2024) — Brazil’s state-owned Petrobras announced that on 30 Oct. 2024 the Marechal Duque de Caxias platform ship (Mero 3) has started […]

Sepetiba Platform Reaches Top Pre-salt Production

(Petrobras, 28.Aug.2024) — The platform ship Sepetiba, chartered by Petrobras, reached its top production, 180 million oil barrels per day (bpd), in the Mero field, in […]

Petrobras Puts Platform Vessel into Pre-salt Production

(Petrobras, 31.Dec.2023) — Petrobras put into production today the Sepetiba platform vessel, in the Mero field, Libra block, in the pre-salt Santos Basin. This is Mero’s […]

The lifting of sanctions and the oil collapse of Venezuela [PDF download]

(Rafael Ramírez, 16.Nov.2023) — On 18 Oct., the US Office of Foreign Assets Control (OFAC)[1] issued Licenses 43 and 44,[2] lifting the sanctions on the Venezuelan oil and mining sector […]

QatarEnergy Selects CNPC as NFE Partner

(QatarEnergy, 20.Jun.2023) — QatarEnergy signed definitive agreements with China National Petroleum Corporation (CNPC), covering the long-term supply of LNG to China and partnership in the North Field […]

KAPSARC and CNPC Affiliate Ink Research and Innovation Deal

(KAPSARC, 6.Dec.2022) — On 6 December 2022, the King Abdullah Petroleum Studies and Research Center (KAPSARC), a leading Riyadh-based advisory think tank, signed a memorandum […]

bp Begins Shipping LNG from Mozambique’s First LNG Project

(bp, 14.Nov.2022) — bp has successfully loaded the first LNG cargo from Mozambique’s offshore Coral Sul FLNG facility, the country’s first LNG project and first floating LNG facility […]

Mozambique’s First LNG Cargo Departs from Coral Sul FLNG

(Eni, 13.Nov.2022) — Eni, as Delegated Operator of the Coral South project on behalf of its Area 4 Partners (ExxonMobil, CNPC, GALP, KOGAS and ENH), […]

Chinese Firm Takes Over Lifting Venezuelan Oil for Debt Offset

(Reuters, 26.Aug.2022) — China has entrusted a defense-focused state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to […]

Coral South Introduces Hydrocarbons to FLNG Offshore Mozambique

(Eni, 18.Jun.2022) — Eni, as Upstream Delegated Operator of Area 4 on behalf of its partners ExxonMobil, CNPC, GALP, KOGAS and ENH, announces that the […]

Libra Consortium Starts Production at Mero Field’s FPSO Guanabara

(Shell Brasil, 2.May.2022) — Shell Brasil Petróleo Ltda., a subsidiary of Shell plc, announces the start of production of the FPSO Guanabara in the Mero […]

Wood Mackenzie Foresees Slow Production Recovery in Venezuela

(Energy Analytics Institute, 21.Apr.2022) — Venezuela’s oil production is expected to gradually rise to as much as 1. 3 million barrels per day by 2028, […]

Venezuela: Nov. Oil Output Rises To 660 Mb/d

(S&P Global Platts, 30.Nov.2021) — Oil production by Venezuela’s state PDVSA and its foreign partners rose to 660,000 b/d in November, up 40,000 b/d from […]

CNPC prepares to revive Venezuela operations

(Bloomberg, 1.Sep.2021, Words: 597) — China’s top oil producer is laying the groundwork to revive output in Venezuela as President Nicolas Maduro finalizes legislation to […]

Venezuela Adjusts As Sanctions Spur Western Oil Partners To Retreat

(Reuters, 1.Jun.2021) — Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in […]

Venezuela Crude Stocks Drop As Exports Pick Up

(Reuters, 26.Jan.2021) — Venezuelan state oil company PDVSA’s inventories of its main export crude grade dipped this week to their lowest levels since late November, […]

China Buys Venezuelan Oil Doctored To Skirt Sanctions

(Bloomberg, 22.Jan.2021) — It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously […]

Venezuela’s Oil Production Sinks To 300,000 b/d

(Argus, 3.Jul.2020) — Venezuela kicked off July with only around 300,000 b/d of crude production and no oil rigs in operation, according to a series […]

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 […]

Wave Of Venezuelan Oil Stalled At Sea

(Argus, 10.Jun.2020) — Vessel tracking data shows a fleet of 44 international tankers on the water holding 40.5mn bl of Venezuelan oil as shipowners face […]

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 […]

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 […]

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 […]

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 […]

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 […]

Venezuela Weighs Privatizing Oil

(Bloomberg, 27.Jan.2020) — Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of […]

Oil Is The Only Way Back Up For Venezuela

(Oilprice.com, 19.Jan.2020) — There’s only one path to rebuilding Venezuela, and it’s paved with oil. For the time being, that path leads nowhere. The key […]

China Scaling Back Economic Support For Maduro: Envoy

(Reuters, 15.Jan.2020) — The Trump administration’s envoy on Venezuela said China appears to be scaling back economic support for President Nicolas Maduro, and Beijing acknowledged […]

Abrams Sees China Scaling Back Support For Maduro

(Reuters, 15.Jan.2020) — The Trump administration’s envoy on Venezuela said China appears to be scaling back economic support for President Nicolas Maduro, and Beijing acknowledged […]

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 […]

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 […]

Venezuelan Oil Exports Fell By A Third In 2019

(Reuters, 7.Jan.2020) — Venezuela’s oil exports plummeted 32% last year to 1.001 million barrels per day, according to Refinitiv Eikon data and state-run PDVSA’s reports, […]

PDVSA Cedes Oilfield Operations To Foreign Firms

(Reuters, 3.Jan.2020) — Venezuelan state company PDVSA is letting some joint venture partners take over the day-to-day operation of oilfields as its own capacity dwindles […]

US Cuts Venezuelan Flows Plans For China, Rosneft

(S&P Global Platts, 24.Dec.2019) — US sanctions on PDVSA shut down roughly 500,000 b/d of crude flows from Venezuela to Gulf Coast refineries within a […]

Maduro Govt Eyes Turning Point

(Argus, 20.Dec.2019) — PdV is leaning on joint-venture partners as it looks to continue a nascent crude output revival and live up to an improved […]

Petrobras Seeks Alternatives For Comperj

(Petrobras, 18.Dec.2019) — Petrobras has completed the economic feasibility study regarding the completion of the Comperj refinery construction, together with the Chinese company CNPC and […]

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% […]

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 […]

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 […]

Venezuela Gov’t, Opposition Weigh Giving Firms Operating Rights

(Reuters, Luc Cohen, Deisy Buitrago, Mayela Armas, 6.Dec.2019) — Venezuela’s government and opposition have discussed allowing private companies in joint ventures with state oil company […]

Brazil’s Pre-salt Encore Flops

(Argus, 7.Nov.2019) — Brazil’s pre-salt auction today mirrored the lackluster results from yesterday’s much-hyped Transfer of Rights offer, raising questions about bonus pricing, the appeal […]

Brazil Oil Auction A ‘Total Disaster’

(Bloomberg, Sabrina Valle, Peter Millard, and Luiza Ferraz, 6.Nov.2019) — Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro […]

Petrobras Takes Prize In Brazil’s TOR Round

(WoodMac, 6.Nov.2019) — Brazil’s largest-ever auction of oil licences – the Transfer of Rights round – saw state-controlled Petrobras walk away with the biggest prizes, […]

Chevron Venezuela’s Exit To Aid Putin’s Russia

(S&P Global Platts, Brian Scheid and Rosemary Griffin, 17.Oct.2019) — Chevron is pushing back against the Trump administration’s plans to let the company’s Venezuela sanctions […]