(WoodMac, 4.Dec.2020) — Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply […]
Tag: Saudi Arabia
Saipem To Build 450 MW Offshore Wind Farm In Italy
(Reuters, 25.Aug.2020) — Italy’s Saipem has signed an agreement to build a 450 megawatt (MW) offshore wind farm in the Adriatic Sea in northern Italy, the energy services group said […]
Saudi Arabia Turns Off America’s Oil Taps Again
(Bloomberg, 9.Aug.2020) — The strategy worked wonders in 2017. It will be more challenging this time around unless the pandemic eases its grip on oil demand. For the second time […]
OPEC+ To Meet Saturday On Extending Cuts
(Reuters, 5.Jun.2020) — OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria […]
Saudi OSPs For Oil Exports Bode Well For Asian Refiners
(WoodMac, 16.Apr.2020) — On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia’s crude export […]
OPEC And Non-OPEC To Cut Output By 9.7 MMb/d
(OPEC, 12.Apr.2020) — The 10th (Extraordinary) OPEC and non-OPEC Ministerial Meeting was held via videoconference, on Sunday, 12 April 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, […]
‘Dead Cow’ Oil Play Set To Be Next Permian Is Now Dead
(Bloomberg, 1.Apr.2020) — Just a bit more than 3 weeks ago, the head of Argentina’s state-run driller outlined an aggressive $1.8 billion spending plan for 2020 in the country’s Vaca […]
Which Supply Is Most At Risk Of Shut-in?
(WoodMac, 27.Mar.2020) — The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent […]
China “Teapot” Refiners Crank Up Run Rates
(Reuters, 11.Mar.2020) — China’s independent oil refiners are cranking up production as local governments begin to relax strict measures to contain the coronavirus and fuel demand begins to recover. A […]
Mexico Says Hedge Covers Oil Income
(Reuters, 10.Mar.2020) — Mexico’s finance minister said on Tuesday a $1.4 billion hedge program completely covered 2020 national oil income following a steep drop in crude prices, adding the government […]
OPEC Statutes Roots Point To Caracas
(Energy Analytics Institute, Piero Stewart, 2.Mar.2020) — In Caracas, and by unanimous decision of the founding member of the Organization of Petroleum Exporting Countries (OPEC) under the leadership and vision […]
Brazil To Discuss OPEC With Saudi Arabia In July
(S&P Global Platts, 24.Jan.2020) — Brazil will discuss potential cooperation with OPEC on the sidelines of a Group of 20 event scheduled to be held in Saudi Arabia later this […]
Petrobras Informs On Petrol Prices Due To Saudi Arabia Attacks
(Petrobras, 16.Sep.2019) — Petrobras informs that, due to the latest events in Saudi Arabia, it will carry on with its international market monitoring process. The company points out that, according […]
OPEC Founder Venezuela Pumps Less Oil Than Three Of Its Neighbors
(Bloomberg, Lucia Kassai, 20.May.2019) —Venezuela, which sits atop more oil than Saudi Arabia, has fallen behind three other Latin American countries as years of mismanagement and lack of investments take […]
LatAmNRG Panorama 28.Nov.2018: Ecuador, Mexico, Peru, Venezuela
(Energy Analytics Institute, Jared Yamin and Piero Stewart, 28.Nov. 2018) — Heard on the street and other LatAmNRG briefs from Mexico, OPEC producers Ecuador and Venezuela, and Peru. Heard On […]
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 to 95% of the country’s […]
Venezuela Solicits Audit of Pacific Coast Refinery, RÃo Napo
(Energy Analytics Institute, Piero Stewart, 13.Oct.2018) — Venezuela has solicited an audit of costs related to the Pacific Coast Refinery and RÃo Napo JV in order to discuss potential investment […]
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 Venezuelan crisis, even as Saudi […]
Petrobras Cuts Gasoline Refinery Price After Pump Record
(Reuters, 24.Sep.2018) — Brazil’s state-owned oil company Petroleo Brasileiro SA said on Monday that it would cut the average price of gasoline at its refineries by 0.59 percent after pump […]
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 offset deepening supply losses in […]
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 percent to 1,235 thousand barrels […]
OPEC MOMR Shows Further Oil Declines in Venezuela
(Energy Analytics Institute, Piero Stewart, 14.Aug.2018) – Venezuela’s crude oil production declines seem unstoppable. Venezuela’s crude oil production fell to 1.278 million barrels per day (MMb/d) in July 2018 compared […]
Venezuela, Saudi Arabia Discuss Partnerships
(Energy Analytics Institute, Ian Silverman, 8.Aug.2018) — Officials from both OPEC countries discussed existing energy partnerships during their meeting in Caracas. Venezuela was represented by its Petroleum Minister Manuel Quevedo, […]
US to Become World’s Top Oil Producer
(AP, 15.Jul.2018) – The United States has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world’s biggest oil producer for the first time […]
Ecuador, Venezuela Output Down, OPEC Reports
(Energy Analytics Institute, Ian Silverman, 11.Jul.2018) – The Organization of Petroleum Exporting Countries published its July 2018 edition of its Monthly Oil Market Report (MOMR). Crude oil production from Ecuador […]
OPEC’s Vienna Meeting: The Challenge of Failing NOCs
(The Council on Foreign Relations, Amy Myers Jaffe, 19.Jun.2018) – As energy ministers from major oil producing countries gather in Vienna this week to discuss the stability of global oil […]
Venezuela Oil Output Slides to 1.4 MMb/d in May 2018
(Energy Analytics Institute, Piero Stewart, 14.Jun.2018) – Venezuela’s oil production continues its downward slope. Venezuela’s crude oil production fell to 1.392 million barrels per day (MMb/d) in May 2018, according […]
North America’s Energy Future on Trial in Mexico
(Brookings, Carlos Pascual, David G. Victor, and Rafael Fernandez de Castro, 5.Jun.2018) – On July 1, Mexicans head to the polls to select their next president. While it has become […]
Venezuela Holds World’s 8th Largest Gas Reserves
(Energy Analytics Institute, Piero Stewart, 11.Mar.2017) – Venezuela, the country with the world’s largest crude oil reserves, also continues to hold the world’s eighth largest accumulation of natural gas reserves […]
PDVSA Steps up Legal Actions Against PetroSaudi
(PDVSA, 24.Feb.2017) – PDVSA, through its subsidiary PDVSA Servicios SA, has been involved in a legal battle against PetroSaudi Oil Services Ltd. Among other claims, PDVSA seeks to obtain compensation […]
Venezuela, Algeria Officials Discuss Bilateral Coop
(PDVSA, 13.Feb.2017) – Venezuela’s Foreign Minister Delcy RodrÃguez and Oil Minister Nelson MartÃnez visited the People’s Democratic Republic of Algeria to continue working visits to member a and non-member countries […]