Tag: oil

• Friday, February 22nd 2019 - 09:24 UTC

  Brazilian oil production challenges OPEC' attempts to balance the market and prices

  

  While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.

• Monday, February 18th 2019 - 10:08 UTC

  Russian bank freezes Venezuela's oil company accounts, fearing US sanctions

  

  Russian lender Gazprombank has frozen the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, according to Reuters.

• Thursday, February 14th 2019 - 09:37 UTC

  Chevron will remain in Venezuela in “coordination with US government agencies”

  

  Chevron Corp. Chief Executive Officer Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiralling crisis that has led rival oil major Total SA to retreat.

• Friday, February 8th 2019 - 10:13 UTC

  Vaca Muerta shale oil production soared 52% and gas 193%, during 2018

  

  Vaca Muerta, the biggest shale play in Argentina, led a year-on-year increase in oil and natural gas production in 2018 in Neuquen, as more companies bet on the resources for growth in the southwestern province.

• Saturday, February 2nd 2019 - 08:58 UTC

  Oil traders anticipate they will comply with US Treasury sanctions on Venezuela

  

  U.S. sanctions will sharply limit oil transactions between Venezuela and other countries and are similar to but slightly less extensive than those imposed on Iran last year, experts said on Friday after looking at details posted by the Treasury Department.

• Thursday, January 31st 2019 - 09:25 UTC

  Washington warns traders not to deal with gold or oil “stolen from the Venezuelan people”

  

  The White House warned traders on Wednesday not to deal in Venezuelan gold or oil following its imposition of stiff sanctions aimed at forcing socialist President Nicolas Maduro from power.

• Wednesday, January 30th 2019 - 10:01 UTC

  Guaidó plans to name new boards of directors at PDVSA and Citgo

  

  The President of Venezuela’s opposition-dominated National Assembly Juan Guaido will announce new boards of directors for state oil company PDVSA and its U.S. business, Citgo, according to opposition leader sources.

• Wednesday, January 30th 2019 - 09:33 UTC

  Ecuador issues 10-year sovereign bonds at 10.75% yield

  

  Ecuador’s finance ministry said it had placed about US$1 billion in 10-year sovereign bonds in the international market. Proceeds from the 10.75% bonds will be used to strengthen the country’s reserves and help fund this year’s budget which has financing needs of about US$ 8 billion, the ministry said in a statement.

• Tuesday, January 29th 2019 - 09:03 UTC

  US tightening the noose: Venezuelan oil proceeds will be withheld from Maduro's government

  

  The US has imposed sanctions on Venezuela's state-owned oil firm PDVSA and urged the country's military to accept a peaceful transfer of power. National Security Adviser John Bolton said President Nicolás Maduro and his allies could “no longer loot the assets of the Venezuelan people”. Efforts by the opposition to unseat Mr Maduro have increased in recent days.

• Monday, January 28th 2019 - 09:18 UTC

  Oil prices fall on Monday as US crude production is anticipated to increase

  

  Oil prices fell on Monday after U.S. energy firms added rigs for the first time this year in a sign that crude production there will rise further. U.S. spot crude oil futures CLc1 were at US$ 53.37 per barrel at 0027 GMT, down 32 cents, or 0.6 percent, from their last settlement.