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 […]
Tag: Petroleum
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 […]
Oil and natural gas production decreased in April
Oil production in barrels per day (BPD) in April 2023 was slightly lower than the previous month and stands at 42,576 BPD. According to a report by the Peruvian Hydrocarbons Society (SPH), which collects official data from Perupetro, the figure registered in April was 1.6% higher than that obtained in the same month last year. […]
Government backs down and Petroperú will only go as a partner in Talara lots
Finally, and contrary to all previous announcements by the Ministry of Energy and Mines (Minem), Perupetro opted for only a partial participation of Petroperú in the Talara lots, where the state company will only have to arrive as an “economic partner” of some private operator that assumes risk investments in exploration. In the decentralized session […]
The largest refinery in Libya resumes its activity after twelve years of closure
The president of the Libyan National Oil Corporation (NOC), Farhat Bengdara, announced on Saturday the reactivation of the Ras Lanuf complex, one of the main oil industries that has a petrochemical plant and the largest refinery in the country. The complex, capable of processing 220,000 barrels of oil per day (bpd), will begin operating at […]
The quality of gasoline in Venezuela, a risk of fire for cars
The deposit of the gasoline The car of the Caritas organization that sister Amarilis Ybarra was driving caught fire while she was driving, on her way to a day of care for the most vulnerable in the state of Zulia, a situation that was repeated this year in another 26 vehicles in the region, as […]