OPEC Archives - Page 5 of 7 - Energy Analytics Institute (EAI)

(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 […]

Without Gas For Cremation, Even Dying Is A Struggle In Venezuela

(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 […]

Ecuador Seeks To Extract 49% More Oil From ITT

(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 […]

LatAmNRG Chart Analysis: Venezuela’s R/P Rises As Oil Output Plunges

(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 […]

TT Budget On Oil Price Swing

(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 […]

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 […]

Venezuela’s Maduro Says $100/bbl Oil Is ‘Fair Price’

(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 […]

Venezuela Fuel Shortages Get Worse As Tanker Staff Flee

(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 […]

Venezuela Set To Share Economic Data With IMF

(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 […]

Fuel Shortages The New Norm In Venezuela As Oil Industry Unravels

(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 […]

Venezuela Hoping To Steeply Raise Oil Output Next Year

(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 […]

Ecuador To Use $58.29/bbl Oil Price In 2019 Budget

(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 […]

Mexico Spends $1.2 Billion To Lock In Crude Rally For 2019

(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 […]

Investors Begin Receiving Payment PDVSA 2020 Bond: Sources

(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. […]

Lawmaker Says Voluntad Popular To Present ‘Energy Venezuela’ Proposal

(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 […]

Venezuela: Oil Producer’s Slump Reflects Nation’s Decline

(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 […]

Venezuela, Mexico Divert Crude To U.S. As Canadian Barrels Get Stuck

(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 […]

Guyana: The World’s Next Offshore Oil Hotspot

(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, […]

U.S. Eyes More Venezuelan Sanctions, But Oil On Backburner: U.S. Official

(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 […]

Ecuador, Peru In Talks To Explore Oil And Gas Blocks: Energy Minister

(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 […]

Venezuela Sets New Wages For Oil Workers As Protests Simmer

(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 […]

IEA Urges Opec to Open Taps as Oil Markets Enter ‘Red Zone’

(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 […]

Ecuador Signs Oil Investment Contracts to Increase Output

(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 […]

Ecuador, UN to Audit 5 Oil Projects Promoted Under Correa

(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 […]

Venezuela to Continue in Defense of Oil Market Equilibrium

(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 […]

Venezuela Faces Fresh Blow With Ship-Fuel Rules Threatening Exports

(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 […]

PetroMonagas, PetroVictoria Rumored to Have Changed President

(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 […]

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 […]

OPEC’s Decade of Turmoil Leaves Cartel Seeking a New Way Forward

(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 […]

Nicolas Maduro Says Venezuela to Double Oil Production

(Energy Analytics Institute, Piero Stewart, 18.Sep.2018) — Venezuela, the struggling OPEC producer, is now planning to double its production of crude oil, according to statements […]

IEA Warns of Higher Oil Prices as Iran and Venezuela Losses Deepen

(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 […]

Venezuela’s Aug. 2018 Oil Output Continues Decline: OPEC MOMR

(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 […]

Jamaica’s Economy Gets $5 Bln From PetroCaribe Over 13 Years

(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 […]

Venezuela Constituent Assembly Seeks to Woo Private Oil Investment

(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 […]

PDVSA To Reopen Damaged Port Dock By Month’s End

(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 […]

Ecuador Holds Open Licensing Round for Eight Onshore Blocks

(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 […]

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 […]

Venezuela’s Oil Output Continues Fall, Ecuador’s Rises in Aug. 2018

(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 […]

Chevron Wins Ecuador Rainforest ‘Oil Dumping’ Case

(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 […]

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 […]

Venezuela Creates Commission to Reorganize PDVSA: Document

(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 […]

Venezuela Oil Sales to US Fell in August

(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 […]

PDVSA Inks $430 Mln Deal in Effort to Boost Oil Output

(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 […]

Venezuela Aims To Boost Oil Output By 640 Mb/d

(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 […]

Venezuela Takes Action To Stabilize Currency

(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 […]

Magnitude 7.3 Quake in Venezuela Felt in Guyana

(Stabroek News, 21.Aug.2018) – A powerful earthquake has hit the northern coast of Venezuela with a magnitude of 7.3, according to the U.S. Geological Survey. […]

Four Cos. to Invest $727 Mln in Ecuador

(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 […]

Cure for Venezuela’s Mercantilism, Rentism Disease

(EnergyNomics, Carlos A Rossi, 18.Aug.2018) – Are natural resource endowed countries victims of their own wealth? Is there a richness threshold beyond which the institutions […]