(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 SA did most of the […]
Tag: CNPC
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, the Búzios and Itapu blocks. […]
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 waiver expire, arguing such a […]
Venezuela Readies Handover Of PDVSA To Rosneft
(Tass, 16.Oct.2019) — The government of Venezuela is ready to hand over full control over its state-run oil company PDVSA (Petroleos de Venezuela) to Russia’s Rosneft, El Nacional newspaper said […]
Nayara Supplies Fuel To Rosneft For Venezuelan Oil
(Reuters, Nidhi Verma and Marianna Parraga, 15.Oct.2019) — India’s Nayara Energy has been using Russian giant Rosneft as an intermediary to acquire Venezuelan oil, paying it in fuel rather than […]
Venezuelan Oil Output Could Be Halved Without Chevron Waiver
(S&P Global Platts, Brian Scheid, 14.Oct.2019) — Venezuelan oil production, already averaging a historic low near 600,000 b/d, could quickly plummet below 300,000 b/d if the Trump administration allows a […]
Energy Cos Caught In Spat Over Venezuela Sanctions
(Chron, Sergio Chapa, 7.Oct.2019) — Frequent power outages, theft of equipment, a political tug-of-war and billions of dollars in losses would seem to signal to businesses that it’s time to […]
PdV-CNPC JV Managers Arrested
(Argus, 7.Oct.2019) — Senior managers of Venezuelan state-owned PdV’s heavy crude-blending joint venture with Chinese state-owned CNPC were arrested late last week, days after the blending plant halted operations. PetroSinovensa […]
Exxon Mobil Bars Use Of Oil Tankers Linked To Venezuela
(Reuters, Jonathan Saul and Collin Eaton, 4.Oct.2019) — Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to […]
PdV Floods Cuba With Stranded Oil
(Argus, 3.Oct.2019) — At least three Venezuelan fuel tankers are heading towards Cuba today, part of a flotilla meant to free up domestic storage space while defying a US campaign […]
BP Comes Up Empty Offshore Exploration Hotspot
(Bloomberg, Peter Millard and Kelly Gilblom, 30.Sep.2019) — It was supposed to be BP’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore […]
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 […]
US Targets Entities, Vessels Moving Venezuelan Oil To Cuba
(US Treasury, 24.Sep.2019) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four entities that operate in the oil sector of the Venezuelan economy […]
Maduro Hopes Putin Will Offer More Than Words
(FT.com, Michael Stott and Henry Foy, 24.Sep.2019) — Threats of military invasion, sweeping economic sanctions, people power, recognition of a rival government, even an attempted uprising — the US has […]
Cuba Won’t negotiate On Venezuela, But Russia Might
(Miami Herald, Nora Gámez Torres and Michael Wilner, 24.Sep.2019) — Moscow has maintained communication with members of the Venezuelan opposition even as the Cuban government plans on “going down with […]
CNPC Skips Venezuelan oil Loading For Second Month
(Reuters, Chen Aizhu, 10.Sep.2019) — China National Petroleum Corp (CNPC), a leading buyer of Venezuelan oil, will skip cargo loadings for a second month in September as the state oil […]
PdV Clings To Sliver Of Oil Refining Capacity
(Argus, 6.Sep.2019) — Venezuela’s national oil company PdV has lost almost all capacity to refine crude, with only a sliver of the 635,000 b/d Amuay plant currently in operation, according […]
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 […]
China Stays Venezuela Course
(Argus, 20.Aug.2019) — The Chinese government is so far showing no sign of curtailing its oil ties to Venezuela, despite state-owned PetroChina’s rescheduling of Merey crude loadings in August. Argus […]
CNPC Suspends Venezuelan Oil Loading
(Reuters, Chen Aizhu and Marianna Parraga, 18.Aug.2019) — China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest U.S. sanctions on the South […]
CNPC Backs Out Of Oil Purchases With Venezuela On Sanctions Scare
(Oilprice.com, Julianne Geiger, 16.Aug.2019) — Russia and China have stuck with Venezuela during its most recent time of need, but at least one of their loyalties may soon come to […]
PDVSA Partners Fear Latest U.S. Sanctions: Sources
(Reuters, Luc Cohen, 14.Aug.2019) — Foreign joint venture partners with Venezuelan state-owned oil company PDVSA are concerned the latest set of U.S. sanctions on the South American country could disrupt […]
Trump Freezes All Venezuelan Govt Assets
(Reuters, Matt Spetalnick and Roberta Rampton, 5.Aug.2019) — U.S. President Donald Trump imposed a freeze on all Venezuelan government assets in the United States on Monday, sharply escalating an economic […]
Petropiar JV starts blending
(Reuters, 29.Jul.2019, Words: 316) — Venezuelan state-run oil company PDVSA said on Monday the Petropiar extra-heavy crude upgrader, part-owned by U.S. oil company Chevron Corp, had begun operations as a […]
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 […]
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 […]
LatAmNRG Ecuador Briefs: PetroAmazonas Deals, Drilling, Output, And Merger
(Energy Analytics Institute, Piero Stewart, 20.May.2019) — Heard on the street and LatAmNRG briefs related to the Petroamazonas EP and contracts for $78.1 million with China’s CNPC And Sinopec, optimized […]
Peru Cuts Gas Reserves, CNPC Block On Hold
(Argus, 10.Apr.2019) — Peru’s natural gas reserves declined after the energy ministry reclassified the potential of Chinese state-owned CNPC’s block 58 from proven/probable reserves to contingent resources. The ministry said […]
Petrobras and CNPC Define Business Model For COMPERJ, Marlim Partnership
(Hydrocarbon Engineering, Alex Hithersay, 18.Oct.2018) — Petrobras has announced that it has signed an integrated project business model agreement (IPBMA) with China National Oil and Gas Exploration and Development Co. […]
Aker Solutions Wins Subsea Order for Libra’s Mero Field Offshore Brazil
(Aker Solutions, 5.Oct.2018) — Aker Solutions has signed a contract with Petrobras to provide a subsea production system and related services for the Mero 1 project within the Mero field […]
Venezuela Doubles Down on Chinese Money to Reverse Crisis
(AP, 20.Sep.2018) — Venezuelan President Nicolas Maduro said Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian […]
Venezuela Oil Production Continues to Collapse
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — The decline is consistent and constant as well as consistently and constantly bad, writes Caracas Capital Market in a research note emailed to […]
Petrobras Targets China with New Crude Oil
(Reuters, Florence Tan and Alexandra Alper, 27.Jul.2018) – Brazil’s state-controlled energy company Petrobras plans to push more crude oil to top importer China by marketing a new medium-sweet grade that […]
Petrobras, CNPC to Finish Rio Refinery
(Efe, 4.Jul.2018) – Brazilian state oil company Petrobras and China’s state-owned China National Petroleum Corporation signed a letter of intent to conclude construction of a refinery in Rio de Janeiro, […]
PDVSA Completes First Ship-to-Ship Transfer
(Kallanish Energy, 11.Jun.2018) — Venezuela’s PDVSA has reportedly completed its first ship-to-ship (STS) transfer last week, in a move to tackle the severe bottleneck of tankers around its main crude […]
Venezuela’s Oil Sector Glory Days [EAItv]
(Energy Analytics Institute, Piero Stewart, 1.May.2018) – A brief look at Venezuela’s oil sector glory days. Will they return?
Repsol Starts Gas Production at the Sagari Field in Peru
(Repsol, 27.Dec.2017) – Repsol has begun gas production from the Sagari field, located in block 57 in the Cusco region of Peru, reinforcing the company´s gas output drive in its […]
New Libra Well Confirms Extension of Petrobras Oil Find
(Petrobras, 15.Jun.2016) – The Libra Consortium has concluded the drilling and evaluation of the seventh well in the block, located in the pre-salt of the Santos Basin. The well found […]
Petrobras Libra Consortium 2nd Extension Well
(Petrobras, 24.Mar.2015) – The Libra consortium has finished drilling extension well 3-BRSA-1267-RJS/3-BRSA-1267A-RJS (3-RJS-735/735A). The drilling results confirmed the presence of a hydrocarbon column approximately 200 meters deep in reservoirs with […]
Ecuador, China Advance Refinery Plans
(OGJ, 24.Jan.2014) — China National Petroleum Corp. (CNPC) and the Ecuadorean government have reached an agreement regarding cooperation in a plan to construct a long-delayed refinery on Ecuador’s Pacific Coast. […]
Rafael Ramirez Speech in Caracas
(Energy Analytics Institute, Piero Stewart, 7.Oct.2013) – PDVSA President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez regarding shipments […]
Rafael Ramirez Speech in Puerto La Cruz
(Energy Analytics Institute, Piero Stewart, 4.Oct.2013) – Venezuela’s Oil Minister President Rafael Ramirez spoke with journalist in Puerto La Cruz, Venezuela. What follows are excerpts from the discussion. Rafael Ramirez […]
Journalist round table with PDVSA head Rafael Ramirez about the Faja, FONDEN, and more
CARACAS, VENEZUELA (By Pietro D. Pitts, Energy Analytics Institute, 31.Jul.2013, Words: 1999) – PDVSA President Rafael Ramirez held a small round table with journalist in Caracas, Venezuela. What follows are […]