Latin America ///
Margaret Øvrum recalls that investment depends on viability, "With a monopoly, you do not get the right price."
Venezuela’s exports to the U.S. hit zero last week after American sanctions on PDVSA.
Petrobras is expected to receive more than $18 billion from a mixture of government and private sources as payment for oil reserves, people familiar with the matter said, potentially resolving a dispute that has dragged on since 2013.
Michele Cowart, World Oil
Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well, located ~12.43 mi (20 km) south of the Kristin platform in the Norwegian Sea.
Açu Petróleo (a partnership of Prumo Logística and Oiltanking) and Equinor signed a contract for oil transshipment services at the Petroleum Terminal (T-OIL), located in the Complex of Port of Açu, in the north of the state of Rio de Janeiro.
During Day 2 of CERAWeek 2019, the leadership dialogue continued with Chevron Chairman of the Board and CEO Mike Wirth, who spoke to the crowd about Chevron’s goals in the Permian basin and Gulf of Mexico.
Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves.
U.S. Energy Secretary Rick Perry said the decline of oil output from Venezuela will continue until there’s a change of leadership.
Petroleo Brasileiro SA plans to implement a voluntary redundancy program and cost-cutting measures aimed at shaving $8.1 billion off its budget for the next five years.
Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.
Offshore operator, Naviera Tramarsa, has extended its underwater robotic vehicle fleet with a new Cougar XT from Saab Seaeye to enter operations in May 2019.
U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports, historically one of America’s top oil suppliers.
BP Trinidad and Tobago (BPTT) has announced first gas production from its Angelin development. The project was delivered on time and under budget.
Petrobras informs that in January its total production of oil and gas, including natural gas liquids (NGL), was 2.61 MMboe/y, of which 2.54 MMboed produced in Brazil and 73 Mboed abroad.
The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.
TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil. The survey will cover approximately 11,200 km2 within the granted permit area and will be acquired by Shearwater with the Amazon Warrior.
India is feasting on Venezuelan oil, after the U.S. imposed a de facto ban on crude imports from the Latin American nation.
The Trump administration has given Venezuela’s state-owned oil giant, Petroleos de Venezuela SA, and President Nicolas Maduro’s associates a clear path to escape U.S. sanctions: Help bring down the authoritarian leader.
The U.S. Treasury Department sanctioned Venezuelan Oil Minister Manuel Quevedo, who also serves as the head of its state-owned oil giant, PDVSA, and four other officials for their ties to President Nicolas Maduro.
The political crisis in Venezuela risks disrupting global crude markets as the type of oil pumped by the OPEC member becomes increasingly scarce, according to the International Energy Agency.