Venezuela

Oil prices rose for a fourth straight month, despite their heavy plunge at the last trading session of the month.British-based oil contract, Brent crude, which is the international benchmark for oil, settled at $64.42, down 3.7% on the…

While there is still plenty of potential new oil supply on the market, particularly from OPEC+, analysts remain very bullish and banks are beginning to talk about $100 oil.In this week's Global Energy Alert, our research team…

The international media think tanks and government agencies have discussed at length the near failure of Venezuela, once Latin America’s most stable and developed nation, and the emergence of this century’s second-worst…

The story of Venezuela’s rise to wealth and its now near collapse is a cautionary tale for countries rich in natural resources. The 1914 discovery of crude oil in the Maracaibo Basin sent the then impoverished agricultural…

January 2021 is still far from over yet the pages of Oilprice already boast 6 articles about Guyana being the hottest drilling spot in the world. This is hardly surprising, considering the hot streak that ExxonMobil had over the past 5…

Advancement in refining technologies enabling the crude oil refiners to process and refine the heaviest and dirtiest of crude has boosted the drilling activities pertaining to heavy oil and oil sands. Oil sands are the…

DUBAI (Reuters) - Saudi Arabia’s Sheikh Zaki Yamani, the embodiment of the ascent of Arab petroleum power and the face of the 1973 oil embargo that brought the West to its knees, has died.FILE PHOTO: Then Saudi Arabian oil minister…

BloombergLucid SPAC Gives Up Some of Giant Gain After Pact Confirmed(Bloomberg) -- Shares of the blank-check firm combining with electric-vehicle startup Lucid Motors Inc. plunged in U.S. trading after confirming the biggest SPAC merger…

India: Why oil is so expensive and what could be done India is the world's third-largest oil market and depends heavily on crude oil to fuel its dreams and development. India consumes nearly 211.6 million tonnes of…

A senior Venezuelan oil workers' union has accused the government of political persecution, the AFP reports, citing an interview with the official who has meanwhile left Venezuela."The idea is to neutralize the oil union…

By Luc Cohen, Corina Pons(Reuters) - Venezuelan officials have met in recent months with small domestic oilfield contractors to propose letting them operate fields owned by state-owned PDVSA while pocketing part of the proceeds,…

Venezuela’s oil industry will likely continue to deteriorate in 2021, with the country’s roughly 300 billion barrels of crude in reserves left largely untapped even if oil prices move higher, according to industry sources. Venezuelan…

(Bloomberg) -- Oil dipped toward $53 a barrel as pessimism over the short-term demand outlook in the world’s two largest economies was partially offset by more weakness in the dollar. Futures in New York…

OPEC’s second-biggest oil producer, Iraq, has reduced its term supplies for 2021 to several major Indian refiners by 10-20 percent, industry sources told Reuters, some of them noting that the Iraqi move was totally…

By Marianna Parraga, Mircely GuanipaFeb 2 (Reuters) - Venezuelan PDVSA’s growing pool of new customers helped the state oil company boost exports in January, but the increase was not enough to offset the cumulative effect of U.S.…

A latest research report by ResearchMoz states that the Global Valves for Oil and Gas Market will grow at rapid pace and account for around XX Bn during the forecast period of 2021 to 2027. The report gives detailed data on the factors…

Major energy institutions are adopting a cautionary tone over oil demand in 2021, with the International Energy Agency and OPEC on Feb. 11 joining the US Energy Information Administration in trimming their recovery estimates. The IEA in…

The Covid-19 pandemic has ravaged energy markets and decimated demand. Of the three fossil fuels, coal, natural gas, and oil, demand for the latter was affected most due to its importance for the transportation sector. With…

WASHINGTON, DC - JANUARY 27: U.S. President Joe Biden speaks about climate change issues in the ... State Dining Room of the White House on January 27, 2021 in Washington, DC. President Biden signed several executive orders…

Oil (WTI-Feb) made 13-months high (since Jan’20) around 59.81 mid-U.S. sessions, soared almost +2.70% on signs of faster rebalancing, global plateauing of COVID, and reflation. Also higher demand from China…