(Market Watch, Myra P. Saefong, 23.Jan.2019) — Venezuela’s political turmoil may lead to a near-term shortage of crude for some U.S. refiners. But in the long run, it could lead...
(Bloomberg, Tina Davis and Javier Blas, 23.Jan.2019) — Will there be two OPEC presidents now? With Venezuela boasting two proclaimed heads of state, it’s worth remembering that the nation with...
(S&P Global Platts, 16.Jan.2019) — The White House National Security Council has told some US refiners that sanctions on Venezuelan crude exports are under consideration, a signal that opposition within...
(Energy Analytics Institute, Piero Stewart, 15.Jan.2019) — Oil production in the OPEC country has decreased 58% during the tenure of Venezuela’s President Nicolás Maduro to 1.137 million barrels per day...
[caption id="attachment_6216" align="alignnone" width="900"] Venezuela's President Nicolas Maduro. Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 14.Jan.2019) — Venezuela’s President Nicolás Maduro announced plans to focus on efforts to raise crude...
(Oilprice.com, Matthew Smith , 14.Jan.2019 ) — The Russian bear is on the prowl once again as President Putin seeks to expand Moscow’s influence and bolster the one-time superpower’s global...
(Reuters, Luc Cohen and Brian Ellsworth, 7.Jan.2019) — Venezuelan state oil firm PDVSA [PDVSA.UL] has signed a deal with little-known U.S. energy firm Erepla that is part-owned by a prominent...
(Energy Analytics Institute, Pierto Stewart, 2.Jan.2019) — Ecuador adjusted downward amounts estimated for subsidies contemplated in the country’s pro forma budget for 2019, approved in Nov. 2018 by the Assembly,...
(Bloomberg, Lucia Kassai, 2.Jan.2019) — Venezuela, once Latin America’s largest oil exporter, ended 2018 with a whimper as overseas sales dropped to the lowest in nearly three decades. Home to...
(Energy Analytics Institute, Ian Silverman, 1.Jan.2019) — Heard on the street and LatAmNRG briefs on fluctuating prices for super gasoline in Ecuador; and Ecuador’s government favoring $50.05 per barrel oil...
(Energy Analytics Institute, Piero Stewart, 21.Dec.2018) — Heard on the street and LatAmNRG briefs on Argentina’s renewable energy sector, Maurel & Prom’s acquisition of Shell’s interest in the Urdaneta West...
(Oilprice.com, Tsvetana Paraskova, 20.Dec.2018) — U.S. oil production will continue to grow at a rapid pace until 2025, while Venezuela’s crude output is set for further declines, Fatih Birol, the...
(S&P Global Platts, 19.Dec.2018) — OPEC enters a pivotal third year of production cuts in a volatile oil market with its least experienced minister at the helm. Venezuela’s Manuel Quevedo,...
(JWN, Deborah Jaremko, 5.Dec.2018) — Thanks to ExxonMobil’s run of success in oil exploration offshore Guyana, the country is on a path to becoming a Latin American powerhouse, Wood Mackenzie...
(Reuters, Mayela Armas and Mariela Nava, 5.Dec.2018) — Angelica Vera of Venezuela’s western state of Zulia planned to cremate her father's remains after he died of cancer in November because...
(Energy Analytics Institute, Piero Stewart, 28.Nov.2018) — The government of Ecuador intends to extract 49% more oil from the Ishpingo-Tambococha-Tiputini (ITT) block in 2019, according to data from Petroamazonas EP....
(Energy Analytics Institute, Pietro D. Pitts, 24.Nov. 2018) — Venezuela is suffering a complete meltdown across all sectors. The Venezuelan oil sector, which generates upwards to 95% of the country’s...
(Trinidad and Tobago Newsday, Carla Bridglal, 22.Nov.2018) — Crude oil’s importance to the TT economy is now second to natural gas, but its contribution is by no means miniscule —...
(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...
(Energy Analytics Institute, Piero Stewart, 21.Nov. 2018) — Venezuela’s President Nicolás Maduro said an $100 oil price is a “fair price” for a barrel of oil, and assured that low...
(Bloomberg, Fabiola Zerpa, 21.Nov.2018) — Venezuela’s fuel shortages are worsening as mass resignations at the state oil company’s tanker fleet have delayed gasoline shipments. Petroleos de Venezuela SA’s refineries are...
(OilPrice.com, Tsvetana Paraskova, 15.Nov.2018) — OPEC’s member Venezuela—which is sitting on the world’s largest crude oil reserves but which is suffering the worst loss of oil production in history outside...
(Reuters, Tibisay Romero, Deisy Buitrago, 13.Nov.2018) — With chronic shortages of basic goods afflicting her native Venezuela, Veronica Perez used to drive from supermarket to supermarket in her grey Chevrolet...
(Reuters, 11.Nov.2018) — Venezuela is hoping to steeply raise oil output next year but will respect any new deal if OPEC agrees to reduce output from December, Oil Minister Manuel...
(Energy Analytics Institute, Piero Stewart, 11.Nov.2018) — Ecuador announced it will utilize a $58.29 per barrel oil price to calculate projected oil export revenues in 2019, reported online media El...
(Bloomberg, Eric Martin, 30.Oct.2018) — Mexico spent about 23.5 billion pesos ($1.2 billion) through the third quarter from its budget stabilization fund, which historically has been used almost exclusively to...
(Reuters) — Investors have started to receive payment of interest and principal on Venezuelan state oil company PDVSA’s 2020 bond, two bondholders said on Tuesday. (Reporting by Corina Pons, writing...
(Energy Analytics Institute, Piero Stewart, 29.Oct. 2018) — Opposition party Voluntad Popular will present a proposal called “Energy Venezuela,” which will outline guidelines established for a modification of Venezuela’s Hydrocarbons...
(Ft.com, Gideon Long, John Paul Rathbone, 28.Oct.2018) — Gideon Long in Caracas and John Paul Rathbone in Washington October 28, 2018 Print this page 95 In the lobby of the...
(Reuters, Marianna Parraga, Collin Eaton, 26.Oct.2018) — Cash-strapped state-run oil companies in Mexico and Venezuela have begun diverting crude historically processed for domestic use and sending it to U.S. refiners...
(Oilprice.com, Tsvetana Paraskova, 23.Oct.2018) — With population of fewer than 750,000 people, Guyana—a neighbor of Venezuela—has always depended on commodities. Sugar, gold, shrimp, timber, bauxite, and rice account for nearly...
(Reuters, Roberta Rampton, 17.Oct.2018) — The United States plans to turn up sanctions pressure on Venezuela but sees less need to immediately target its energy sector, given sagging production from...
(Reuters, Alexandra Valencia, 11.Oct.2018) — Ecuador has begun talks with neighboring Peru to jointly explore two oilfields at the border and allow state-run Petroamazonas to operate natural gas areas in...
(Reuters, Alexandra Ulmer, 10.Oct.2018) — Venezuela on Wednesday increased wages for workers at state energy company PDVSA after employees staged small protests to decry meager salaries amid the OPEC nation’s...
(Bloomberg, Javier Blas, Grant Smith & Francine Lacqua, 9.Oct.2018) — Oil prices have rallied to a four-year-high due to US sanctions on Iran and the Venezuelan crisis, even as Saudi...
(Xinhua, 5.Oct.2018) — Ecuadorian authorities signed investment contracts worth about 1.6 billion U.S. dollars with private companies to develop six oil fields in the country's northeastern provinces, local newspaper El...
(Energy Analytics Institute, Jared Yamin, 2.Oct.2018) — Ecuador, with the assistance of the United Nations Organization (UN), is auditing five major oil projects promoted by former President Rafael Correa during...
(Energy Analytics Institute, Piero Stewart, 29.Sep.2018) — Venezuela’s Oil Minister Manuel Quevedo announced the South American country would continue to seek equilibrium in the petroleum market. “Under the leadership of...
(Bloomberg, 27.Sep.2018) — New rules forcing ships to use cleaner marine fuels may deal yet another blow to cash-strapped Petroleos de Venezuela SA, an exporter of high-sulfur fuel oil. From...
(Energy Analytics Institute, Ian Silverman, 26.Sep.2018) — The president of the two Venezuelan joint venture companies is rumored to have been changed, according to reports in the daily Noticias Venezuela....
(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...
(Bloomberg, Christopher Sell, 20.Sep.2018) — A global recession, both $140 and $30 oil, the U.S. shale revolution, a market-share war, and output cuts. OPEC’s 60-year history has rarely confronted a...
[caption id="attachment_3713" align="alignnone" width="900"] Venezuela's President Nicolas Maduro. Source: PDVSA[/caption] (Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — Venezuela, the struggling OPEC producer, is now planning to double its production of...
(Bloomberg, Grant Smith. 13.Sep.2018) — The International Energy Agency warned that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in...
(Energy Analytics Institute, Jared Yamin, 12.Sep.2018) — Venezuela’s oil production seems on an unstoppable downward trend. The OPEC country’s production of crude oil fell 2.9 percent to 1,235 thousand barrels...
(CMC, 12.Sep.2018) — Jamaica says it has benefitted from projects estimated at US$5 billion under the Venezuela-led PetroCaribe initiative over the past 13 years. CEO of the Petro-Caribe Development Fund...
(Reuters, Mayela Armas, 12.Sep.2018) — An overhaul of Venezuela’s constitution being prepared by the pro-government Constituent Assembly will likely include changes intended to attract private investment in the country’s oil...
(Reuters, Marianna Parraga, 12.Sep.2018) — PDVSA expects to reopen the south dock of Venezuela’s main oil port Jose by the end of September, easing strains on crude exports delayed due...
(World Oil, 12.Sep.2018) — Carlos Pérez Garcia, Minister of Energy and Non-renewable Resources in Ecuador has announced an open licensing round for eight blocks onshore Ecuador, in Sucumbíos Province. These...
(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...
(Energy Analytics Institute, Piero Stewart, 12.Sep.2018) — Crude oil production in August 2018 in South America’s lone OPEC member countries, Venezuela and Ecuador, continued along usual trends, according to data...
(BBC, 8.Sep.2018) — An international tribunal in The Hague has ruled in favour of the US oil company, Chevron, in an environmental dispute with the government of Ecuador. Chevron had...
(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...
(Reuters, 6.Sep.2018) — Venezuela has created a commission to reorganize state oil company PDVSA in the coming months, according to the Official Gazette circulating on Thursday. PDVSA did not immediately...
(Reuters, 4.Sep.2018) — Venezuela's crude sales to the United States fell in August for the second month in a row as exports of two of the South American country's main...
(S&P Global, Mery Mogollon, 30.Aug.2018) — State-owned Venezuelan oil company PDVSA signed a $430 million service agreement with seven companies to boost its oil production by 641,000 b/d, company president...
(OilPrice.com, Tsvetana Paraskova, 30.Aug.2018) — Venezuela’s state oil firm PDVSA has said that it signed a US$430 million joint service agreement with seven companies that would help it increase its...
(ZeroHedge, 21.Aug.2018) – As previewed yesterday, on Monday Venezuela officially slashed five zeros from prices and its currency as part of what has been dubbed one of the greatest currency...
[caption id="attachment_3215" align="alignnone" width="970"] U.S. Geological Survey (USGS)[/caption] (Stabroek News, 21.Aug.2018) – A powerful earthquake has hit the northern coast of Venezuela with a magnitude of 7.3, according to the...
(Energy Analytics Institute, Jared Yamin, 18.Aug.2018) – Ecuador announced four companies would invest $727.85 million to boost production in a number of fields. The companies – Triboilgas Cía. Ltda, Vinccler...
[caption id="attachment_3025" align="aligncenter" width="2048"] House located in the eastern coastal region of Lake Maracaibo in Venezuela. Source photo: Energy Analytics Institute[/caption] (EnergyNomics, Carlos A Rossi, 18.Aug.2018) – Are natural resource...
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) – If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region....
(Reuters, Deisy Buitrago and Brian Ellsworth, 14.Aug.2018) – Venezuela’s heavily subsidised domestic gasoline prices should rise to international levels to avoid billions of dollars in annual losses due to fuel...
(Energy Analytics Institute, Piero Stewart, 14.Aug.2018) – Venezuela’s crude oil production declines seem unstoppable. [caption id="attachment_2947" align="alignnone" width="679"] OPEC's August 2018 MOMR.[/caption] Venezuela’s crude oil production fell to 1.278 million...
(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...
(Energy Analytics Institute, Jared Yamin, 12.Aug2018) – The World Bank expects the price of oil to average $65 per barrel in 2019. “Oil prices are expected to average $65 per...
(Energy Analytics Institute, Piero Stewart, 10.Aug.2018) – PDVSA President Manuel Quevedo assured that Venezuelan crude oil production had stabilized. Quevedo, who also serves as Venezuela’s Petroleum Minister, said last week...
(Neftegaz.RU, 10.Aug.2018) – According to Platts, Venezuela’s state oil and gas company PDVSA cut its debt to Russia’s top crude producer Rosneft by $400 million in the 2nd quarter to...
(ShaleWolf Capital, 9.Aug.2018) – On June 22nd, 2018 President Donald Trump asked OPEC to increase its daily oil output by 1 million barrels. Industry experts would agree that OPEC is...
(Argus, 9.Aug.2018) – Venezuela's state-owned PdV and its joint ventures fell short of officially targeted crude production by more than 125,000 b/d in July, according to an internal PdV upstream...
[caption id="attachment_3321" align="alignright" width="300"] Venezuela's Manuel Quevedo and Saudi Arabia's Ambassador to Venezuela Saad Bin Abdullah al Saad in Caracas. Source: PDVSA[/caption] (Energy Analytics Institute, Ian Silverman, 8.Aug.2018) — Officials...
(Reuters, Marianna Parraga, Mircely Guanipa, 7.Aug.2018) – Reuters) - Venezuela’s state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers...
(S&P Global Platts, Nastassia Astrasheuskaya, 7.Aug.2018) – Venezuela's state oil and gas company PDVSA cut its debt to Russia's top crude producer Rosneft by $400 million in the second quarter...
(Energy Analytics Institute, Piero Stewart, 7.Aug2018) – Aside from wasting paper, more importantly, the recent Gaceta Oficial in Venezuela also has a decree from President Nicolas Maduro waiving all taxes...
[caption id="attachment_2784" align="alignnone" width="700"] Refinery in Venezuela. Source: DW[/caption] (DW.com, Andreas Knobloch, 6.Aug.2018) – A money-laundering scandal involving Venezuela's state oil company PDVSA could turn into a problem for a...