In the event of default, US demand would plummet, which would translate into a drop in oil prices. API data will be known in the next few hours. SAT will auction nearly 700 vehicles: when, where and how to participate? Price of the dollar today in Peru: what is the exchange rate for this May […]
Tag: Petroleum
Fitch: Talara refinery would solve Petroperú’s cash flow problem
Fitch Ratings projected that Petroperú could overcome its cash flow problems with the operation of the New Talara Refinery (NRT). In this way, the agency noted, the state company could avoid the need for a second year of government support if its New Talara Refinery significantly increases the company’s cash flows. The NRT would be […]
Exxon focuses on lithium extraction and bets on the rise of electric vehicles
The newspaper The Wall Street Journal (WSJ) announced that Exxon Mobilethe largest US oil company, is focused on extracting lithium – a key ingredient in batteries for electric cars, cell phones and laptop computers – thus preparing for a future less dependent on gasoline. The oil giant, based in Texas, recently bought the drilling rights […]
Venezuela faces “serious problems” in gas supply, says Nicolás Maduro
Venezuela faces “serious problems” in the supply of gas, the president said this Friday Nicolas Madurowho ordered the Minister of Oil and president of the state oil company PDVSA, Rafael Tellechea, to solve, in the next three months, the failures in this service, which mainly affect seven of the 23 states of the country. “We […]
US and G7 to announce new sanctions against Russia over Ukraine
USA and the rest of the main economies of the “Group of Seven” will present new sanctions and export controls against Russia for his war on Ukraineannounced a US official before the summit of the G7 in Japan. G7 leaders meet in Hiroshima on Friday with the invasion of Ukraine high on the agenda. The […]
Venezuela’s PDVSA’s new management hopes to boost production, refining
The new management of the Venezuelan state company PDVSA It expects to increase the country’s oil production to 1.17 million barrels per day (bpd) by the end of the year, while boosting refining and exploration activities, an internal planning document showed. Venezuela’s monthly crude production exceeded 800,000 bpd in April, for the first time since […]
Petrobras studies investments in energy transition abroad, says executive
Petrobras It will seek to diversify its portfolio to reduce its exposure to the oil sector, and is studying investments in energy transition projects also abroad, the executive director of Energy Transition and Sustainability, Maurício Tolmasquim, said on Wednesday. The oil company has already started talks with companies abroad but still “There is nothing concreteTolmasquim […]
Historic profits for oil companies in 2023: API raises demand forecast to 102 million bpd
The International Energy Agency (IEA) raised its forecasts for global oil demand for 2023 on Tuesday and placed it in line with 102 million barrels per day (bpd). This configures a progress of 0.2 million barrels compared to the previous month, a new record number for the institution. The growing demand would be driven by […]
Putin defends the voluntary reduction of crude oil extraction to support its price
The Russian President, Vladimir Putindefended this Thursday the voluntary reduction of extraction of Petroleum in the country to support its price in world markets. “We are reducing extractions, but nevertheless an adequate level is maintained,” said the head of the Kremlin in a meeting with members of the Government He warned that oil prices in […]
US shale production to hit record level in June
The production of Petroleum in the seven largest shale basins of USA will rise in June to the highest level ever recorded, data from the Energy Information Administration (EIA). Production will rise by 41,000 barrels per day (bpd) to 9.33 million bpd, according to the EIA. This crude production from the Permian Basin in Texas […]