President of Venezuela Nicolas Maduro has declared an oil emergency, announcing a commission to revamp state oil company Petroleos de Venezuela SA (PDVSA) in a bid to rescue the country’s collapsing oil industry.
According to a report in Bloomberg, the...
Brazil’s natural gas demand is set to climb to a record in 2020‒2021 at 39 billion cubic meters (bcm) per year, giving the country one of its biggest demand-supply deficits in history, Rysatd Energy said in a new report...
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury on Tuesday announced the designation of Rosneft Trading S.A., the Swiss-incorporated, Russian-controlled oil brokerage firm for operating in the oil sector of the Venezuelan economy.
A...
(Bloomberg) A crude tanker stuck at sea for over a year has become the latest front in the battle over Venezuela’s oil riches after being seized last week.
Citgo Petroleum Corp., led by appointees of Venezuelan opposition leader Juan Guaido,...
Eni on Monday announced a discovery at the Saasken Exploration Prospect offshore Mexico. The company said preliminary estimates indicate that the discovery may contain between 200 and 300 million barrels of oil.
The Saasken Exploration Prospect is located in Block...
After decades of dominating its oil industry, the Venezuelan government is quietly surrendering control to foreign companies in a desperate bid to keep the economy afloat and hold on to power, reports the New York Times.
The opening is a startling...
Frontera Energy Corporation on Thursday announced a successful discovery in Colombia in the Lower Magdalena Valley, striking a combination of light oil and natural gas. The company said it looks forward to further successes in Colombia, Ecuador and Guyana.
Richard...
Barbados’ Ministry of Energy and Water Resources has issued effective offshore exploration licences for the Carlisle Bay and Bimshire blocks to BHP, said the island’s Government Information Service.
The news bulletin issued on Wednesday, quoted Minister of Energy and Water...
The International Court of Justice (ICJ), the principal judicial organ of the United Nations, said Thursday it will hold public hearings in the case concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela), from Monday 23 to...
(Zacks) Petrobras PBR and minority partner Chevron CVX announced plans to sell their stakes in the Papa-terra deep-water oilfield located in Brazil’s Campos Basin. Per Petrobras, the plan is in sync with its strategy to cut costs and improve capital...
