The International Court of Justice (ICJ), the principal judicial organ of the United Nations, has indicated that the oral proceedings scheduled to begin on March 23, 2020 concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela) have...
CEO of Hess Corporation John Hess said the fallout from the current oil price war between Russia and Saudi Arabia could lead to a worldwide economic recession and a reduction of US oil production in 2021.
Hess was on March...
(Reuters) - Venezuela’s oil company PDVSA was last week offering discounts of up to $23 per barrel on its flagship crude, traders said, as a collapse in global oil prices puts more pressure on the state-run firm, already reeling...
(Reuters) - Mexico's peso was set for its worst day in 3-1/2 years on Monday and Colombia's peso slumped to a record low as the currencies of major crude oil exporters were hammered after oil lost a third of its value.
Oil...
In the wake of one of history’s largest oil price declines in a single day, a Rystad Energy impact analysis shows that US drilled but uncompleted wells (DUCs) will be the first assets to be threatened by the newly...
(Reuters) - Venezuela’s judiciary has moved to seize the assets of six private shipping agencies over debts to state oil company Petroleos de Venezuela (PDVSA) , according to a document seen by Reuters and two people with knowledge of...
(Reuters) - Mercantile & Maritime said on Monday it would terminate its shipments of Venezuelan oil for Rosneft after the United States imposed sanctions on the Russian oil firm’s Swiss trading unit.
Washington imposed sanctions in February on Rosneft’s Geneva-based...
(Bloomberg) Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said.
The official, who’s directly involved in the process but isn’t allowed to...
Caribbean petroleum producer Trinidad and Tobago is facing an unprecedented economic crisis fueled by a downturn in LNG and oil prices which former energy minister Kevin Ramnarine says only careful planning and a reality check can avert.
“Folks we are...
Following a significant discovery at the Maka Central-1 well at Block 58 offshore Suriname, Apache Corp. is now gunning for oil at a second prospect on the block which reports indicate look promising.
John J. Christmann IV, CEO and President...
