Energy secretary warns against legitimacy of Chinese deals
Chris Wright, the U.S. secretary of energy, urged on Wednesday that the U.S. invest more in Venezuela during the most high-level visit to the U.S. focused on energy policies in almost three decades. Wright also…
Russia claims US restrictions on its involvement in Venezuela's oil industry are discriminatory
Foreign Minister Sergei Lavrov stated on Wednesday that the new U.S. restrictions imposed on Russia and other countries' role in Venezuela's petroleum business was blatantly discriminatory. The Kremlin also said it would clarify this matter with Washington.
Sources say that Venezuela's Orinoco Belt is loosening, which helps to boost oil production to 1 million barrels per day.
Sources close to the operations reported that Venezuela's state-owned?oil firm PDVSA reversed the majority of output cuts in its own oilfields and joint ventures located along the Orinoco Belt. Total production…
Oil Prices Rise After US Urges Caution for Vessels Traveling Near Iran
Oil prices rose more than 1% on Monday after the U.S. Department of Transportation issued an advisory to U.S.-flagged vessels to stay as far as possible from Iranian territory while voyaging through the Strait…
The EU's new sanctions plan is designed to target Russian crude exports more severely
The European Commission proposed on Friday a ban on all services that "support" Russia's crude oil exports by sea. This is a far more comprehensive measure than previous EU sanctions, and goes beyond the piecemeal…
Tengiz Oilfield Power Facility Fires Damage Kazakhstan's CPC Oil Exports
Kazakhstan's planned oil exports could fall by as much as 35% this month via its main route through Russia, four trading sources have told Reuters, as the giant Tengiz oilfield slowly recovers from fires at power facilities in January.U.S.
Sources say that the US will soon issue a general license for oil extraction in Venezuela
Three sources said that the U.S. is preparing to issue a general license allowing oil and gas companies to operate in Venezuela as soon as 'this week'. Washington aims to encourage increased production in the OPEC country since capturing the president.
Venezuelan Oil Exports Increase to 800,000 bpd in January Under US Control
Venezuelan oil exports rose to some 800,000 barrels per day (bpd) in January, from 498,000 bpd in December, after the U.S. capture of Nicolas Maduro and the ending of an oil blockade which has let traders carry most exports…
Shell Nigeria cuts oil exports after maintenance is done on the Bonga vessel
Shell Nigeria Exploration and Production Company announced on Sunday that it has started planned maintenance on its Bonga oil vessel. This'move' will temporarily reduce 'Nigeria’s oil export capacity by 225,000 barrels a day…
Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
Chevron's profits for the fourth quarter fell, but were still higher than expected. The company focused on cutting costs to make its operations more efficient in order to compete with lower crude oil prices through 2025. Chevron is the only U.S.
Sources say that the US will issue a general license to lift some sanctions against Venezuelan oil industry
Four sources said that the U.S. is preparing to issue a license to lift sanctions against Venezuela's energy industry. This would be a shift from the previous plan of granting individual exemptions for companies wishing to do business with Venezuela.
Ship-tracking company says that US Gulf Coast LNG and oil exports were zero on Sunday as a result of the freeze.
Vortexa, a ship tracking service, reported that exports of liquefied gas and crude oil from U.S. Gulf Coast ports fell to zero on Sunday, before resuming on Monday after a major winter storm hit the nation. A recent Arctic blast has pounded the United States…
Palm oil's output data and rival oils' gains lead to a higher end for the palm oil
The price of Malaysian palm oils futures rose for the second time in a row on Tuesday. This was due to a strong rise in the prices of rival edible oils traded at Dalian, as well as a good export and lower production figures.
Palmettos rise on Dalian gains, export data and good production data
The market for Malaysian palm oils futures continued to rise on Tuesday. This was due to the increase in rival edible oils traded at the Dalian Exchange, as well as a good export and lower production. By midday…
Export data shows palm oil gains over stronger competitors, and improved export figures.
The price of palm oil in Malaysia ended Monday higher, supported by stronger crude oil and edible oil rivals, as well as positive export data. The benchmark palm-oil contract for April delivery at the Bursa Derivatives Exchange rose 49 ringgit or 1.17% to 4…
Export data shows palm oil gains over stronger competitors, and palm oil is a better alternative to edible oils
The price of Malaysian palm oil futures increased on Monday. This was largely due to the stronger crude oil and edible oils, as well as positive export data. By midday, the benchmark contract for palm oil delivery…
Venezuelan Oil Exports Progress Slowly Under US Supply Deal
Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and documents from state-run PDVSA showed, with shipments accelerating after the U.S.
Kazakhstan CPC Oil Exports Struggle After Tengiz Field Shutdown
Kazakhstan's CPC oil exports could remain restricted even as extensive maintenance on its primary oil export route wraps up, sources said on Wednesday, with force majeure declared at the country's largest oilfield…
Sources say that Chevron is expected to receive an expanded Venezuela license this week from the US.
Three oil industry sources said on Wednesday that Chevron would receive an expanded Venezuela license this week from the U.S. Government. This could allow increased production and exports from South America. Sources said that the U.S.
Venezuelan oil companies are pushing for rapid reforms to allow them to control oil exports
Sources involved in the talks say that oil executives and lawyers from international oil companies are lobbying for changes to the hydrocarbon laws of OPEC members in order to 'give them the freedom to export the oil produced in Venezuela.