Conoco Seeks Seizure Of Citgo Parent
(Reuters, 26.Nov.2019) — U.S. oil company ConocoPhillips on Tuesday filed a motion in a Delaware court seeking to seize shares in the parent of U.S. refiner Citgo Petroleum to collect...
Colombia Fracking Pilots Could Start In Late 2020: Ecopetrol CEO
(Reuters, Jessica Resnick-Ault, 25.Sep.2019) — Colombia’s state-run oil company Ecopetrol will be ready to start fracking pilot projects in the second half of 2020, chief executive Felipe Bayon said on...
Four Colombia fracking Projects Could Attract $5bn In Yearly Investments
(Reuters, 24.Sep.2019) — Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as...
BP Sells Alaska Business To Hilcorp In $5.6bn Deal
(WoodMac, 27.Aug.2019) — Speaking after BP announced the sale of its Alaska business to Hilcorp in a US$5.6 billion deal, Wood Mackenzie analyst Rowena Gunn said: “The Majors are making...
Wintershall Dea And ConocoPhillips Team Up In The Prolific Neuquén Basin
(Wintershall, 25.Jul.2019) — ConocoPhillips is a new partner in the Aguada Federal and Bandurria Norte blocks with Wintershall Dea. The two companies will advance the development of the significant Vaca...
Renewables Can Benefit The Upstream Business: WoodMac
(WoodMac, 12.Jun.2019) — One of the hottest topics at APPEA was how to use renewables to benefit an upstream business, rather than replace it. At APPEA, Darwin LNG operator ConocoPhillips...
Curacao Oil Refinery Resumes Work After Eight-Month Stoppage
(Reuters, 8.Jan.2019) — Curacao’s 335,000-barrel-per-day (bpd) Isla refinery has resumed work, management of the government-owned facility said on Tuesday, after eight months of paralysis caused by a dispute between its...
Colombia Looks To Fracking To Revert Declining Production
(NGI, Christopher Lenton, 17.Dec.2018) — Though hydraulic fracturing (fracking) has transformed the energy sector in the United States, only Argentina in Latin America has followed its lead in commercially developing...
Crystallex Threatens Venezuela’s Crown Jewel Citgo Again
(OilPrice.com, Irina Slav, 12.Dec.2018) — Canadian miner Crystallex has accused Venezuela of breaching a US$1.4-billion settlement agreement as PDVSA continued to try and overturn a court order that allowed Crystallex...
Venezuela Makes Multimillion-dollar Payment To Retain Citgo
(Houston Business Journal, Olivia Pulsinelli, 28.Nov.2018) — Houston-based refiner Citgo Holding Inc. will remain owned by Venezuela’s state-run oil company, Petróleos de Venezuela SA, if PDVSA follows through with the...
PDVSA In Talks Over 2nd Sea-Borne Oil-Transfer Operation
(Reuters, Marianna Parraga, 22.Nov.2018) — Venezuela’s state-run oil firm PDVSA has begun talks with shipping firms to set up a second ship-to-ship (STS) operation off the country’s eastern coast in...
Chevron Stayed In Venezuela Long After Rivals Quit
(Wall Street Journal, Kejal Vyas and Bradley Olson, 8.Nov.2018) — For nearly a century, Chevron Corp. has weathered dictatorships, coups and nationalization drives to keep pumping oil in Venezuela. But recently,...
Bondholders Raise Hopes Venezuela Will Pay Up On Due Debt
(Ft.com, Gideon Long, 25.Oct.2018) — In a month in which emerging market government bonds have been hammered by the prospect of US rate increases, geopolitical risk and fears of a...
Conoco Is Collecting $2 Billion From Venezuela—One Barrel of Oil at a Time
(Bloomberg, Alex Nussbaum, 25.Oct.2018) — ConocoPhillips’ decade-old legal war with Venezuela began paying off this week as the embattled Latin American country started making good on a $2 billion arbitration...
PDVSA Prepares To Make $949 Mln Payment On Citgo-Backed Bond
(Bloomberg, 24.Oct.2018) — Petroleos de Venezuela SA’s plan to make a $949 million bond payment would mark a rare exception for Nicolas Maduro’s regime as it tries to hold on...
Venezuela Wants To Overhaul State Oil Firm PDVSA
(Oilprice.com, Tsvetana Paraskova, 7.Sep.2018) — Venezuela has set up a commission that will be working to reshuffle and reorganize its state oil firm PDVSA in the next few months, according...
Tanker Backlog Builds Again in Venezuela
(Reuters, Marianna Parraga, 6.Sep.2018) — Crude exports by Venezuela’s PDVSA have slowed after a tanker collision at its main port last month disrupted operations, adding to a backlog of vessels...
PDVSA and ConocoPhillips Reach New, Positive Settlement
(Citgo, 21.Aug.2018) — As officially reported by Petróleos de Venezuela, S.A. (PDVSA) and ConocoPhillips, the two companies recently reached a settlement agreement resulting from the nationalization of the Hamaca and...
Venezuela Agrees to Pay $2 Bln Over Seizure of Oil Projects
(The New York Times, Clifford Krauss, 20.Aug.2018) – More than a decade ago, Venezuela seized several oil projects from the American oil company ConocoPhillips without compensation. Now, under pressure after...
Rafael Ramírez Says Maduro Destroyed PDVSA
(Energy Analytics Institute, Jared Yamin, 19.Aug.2018) – Former PDVSA President Rafael Ramírez says Venezuela produced 3 million barrels per day until December 2013. That figure has dropped by 1.8 million,...
Venezuelan Oil Assets to be Seized by Creditors
(Express, Simon Osborne, 16.Aug.2018) – Venezuela’s oil assets are being targeted by angry creditors after a US court granted a Canadian mining company permission to send in the bailiffs. Firms...
Venezuela’s Citgo Refineries At Risk Of Seizure
[caption id="attachment_2968" align="alignnone" width="960"] BOSTON, MA: People walk through the rain in front of the Citgo sign in Kenmore Square, Boston, July 18, 2016. (Photo by Timothy Tai for The...
Is Venezuelan Oil Output Falling Faster Than Expected?
(OilPrice.com, Nick Cunningham, 12.Aug.2018) – The bad news from Venezuela continues. In July, Venezuela’s oil production came in lower than PDVSA had targeted, according to Argus Media. While PDVSA had...
Crystallex Wins Right To Tap Citgo For Compensation
(OilPrice.com, Irina Slav, 10.Aug.2018) – Canadian gold miner Crystallex was ruled the winner in a long-running case against Venezuela, which it has sued for the forced nationalization of its assets...
Venezuela’s Oil Sales to U.S. in July Below 500 Mb/d
(Reuters, 10.Aug.2018) – Venezuela’s crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset...
No End In Sight For Venezuela’s Oil Crisis
(OilPrice.com, Nick Cunningham, 12.Jul.2018) – Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut...
China to Invest $250 mln to Boost Venezuela’s Oil Sector
(Bloomberg, 4.Jul.2018) – Venezuela’s distressed oil sector may get some much needed financing from China, Finance Minister Simon Zerpa said after meetings with officials from China Development Bank and China...
Venezuela’s Declining Crude Exports Squeeze India’s Refiners
(Reuters, Marianna Parraga, 3.Jul.2018) – Venezuela’s crude shipments to India, its third largest export market, fell 21 percent in the first half of the year, according to internal documents from...
China Throws Venezuela’s Oil Industry $5B Lifeline
(OilPrice.com, Irina Slav) – China’s Development Bank has approved a US$5-billion loan for Venezuela’s oil industry, Bloomberg reports, quoting the troubled South American country’s Finance Minister Simon Zerpa. “We’ve received...
PdV Restarting PetroPiar Upgrader
(Argus, 26.Jun.2018) – Venezuelan state-owned PdV is restarting its 210,000 b/d PetroPiar upgrader this week after completing month-long repairs, PdV and energy ministry officials said. Chevron, which has a 30pc...
Venezuelan Oil Output Charting New Lows
(UPI, Daniel J. Graeber, 19.Jun.2018) – Ahead of what could be pivotal talks among OPEC members, production from founding member Venezuela could hit new lows soon, an industry report found....
Conoco Authorized to Seize $636 Mln in PDVSA Assets
(Reuters, 13.May.2018) – A Curacao court has authorized ConocoPhillips to seize about $636 million in assets belonging to Venezuela's state oil company PDVSA due to the 2007 nationalization of the...
ConocoPhillips’s Chilean Interests
(Energy Analytics Institute, Aaron Simonsky, 25.Apr.2018) -- ConocoPhillips is active in Chile in the Coiron Block in the Magallanes Basin, the company reported in a Fact Sheet updated on its...
ConocoPhillips’s Interest in Colombia
(Energy Analytics Institute, Aaron Simonsky, 25.Apr.2018) -- ConocoPhillips is active in Colombia in the Middle Magdalena Basin at VMM-3 and VMM-2, where it serves as operator at both blocks, the...
ICSID Orders Ecuador Pay ConocoPhillips $380 Mln
(ConocoPhillips, 8.Feb.2017) – ConocoPhillips’ wholly owned subsidiary, Burlington Resources Inc., received an arbitration award of $380 million from an international arbitration tribunal, constituted under the International Centre for the Settlement...
Venezuela Seeks Disqualification of ICSID Judges
(Energy Analytics Institute, Jared Yamin, 26.Mar.2015) – Venezuela presented a letter to the ICSID court requesting the dismissal of judge Kenneth Keith. Keith is the president of the arbitration tribunal...
Venezuela Seizes Helmerich & Payne Rigs
(TulsaWorld, Rod Walton, 2.Jul.2010) – The action comes amid a payment dispute in which the company left the equipment idle. Helmerich & Payne's 52-year business relationship with Venezuela came to...