New leadership at Petroleos de Venezuela SA is considering a major overhaul that could see the company streamlining its oil business and even forsaking decades of state monopoly, according to people familiar with the matter, Bloomberg said in a...
Oil production in Trinidad and Tobago came down to the lowest point since the 1950s during the month of February this year as the Caribbean energy producing country continues to face challenges in its economy.
Former energy minister Kevin Ramnarine...
Venezuelan President Nicolas Maduro on Monday appointed his economy vice president, Tareck El Aissami, who has been indicted in the United States on drug trafficking charges, as oil minister, amid acute fuel shortages across the country, Reuters reported.
Maduro named...
Brazil's National Petroleum Agency (ANP) issued new rules and procedures on Monday for deactivating mature oil and natural gas fields that should result in about $5 billion in investments over the next five years as Latin America's biggest producer...
While trading at Brent futures does not necessarily provide insulation from the oil price volatility gripping the global industry at present, it puts producers in this class in a better position to rally as storage space for crude continues...
Mexican state oil company Pemex has declared force majeure over fuel imports from its trading arm PMI Comercio Internacional, two sources with knowledge of the decision told Reuters on Thursday, as demand craters due to fallout from the coronavirus...
While the sale of crude from the Liza Field in Guyana and in neighbouring Trinidad and Tobago (T&T) has not shared the same fate as US oil, former Energy Minister of Trinidad and Tobago, Kevin Ramnarine, says the Caribbean...
(MarketWatch) The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro...
After three consecutive months of Covid-19 demand destruction and gravity-defying oil prices, operators are finally being forced to shut-in considerable production volumes. Globally, at least 1.9 million barrels per day (bpd) of oil production have been booted offline in...
(BBC) The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out.
The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 19.3%...
