Chevron Corp. is gearing up to expand its operations in Venezuela in anticipation of a possible easing of U.S. sanctions on the country as oil prices soar following the Russian invasion of Ukraine, according to three people familiar with the matter. The oil company had minimized its presence in Venezueladelegating most of the decisions to […]
Tag: Petroleum
The US rules out “for now” importing oil from Venezuela
The United States assured that “for now” it is not maintaining contacts or launching any plan to import oil from Venezuela, and confirmed that it spoke with Colombia to increase its supply of crude oil globally. “It’s not something we’re actively talking about right now.”said the spokeswoman for the White House, Jen Psakiin his daily […]
US shale drilling fastest growing in a month
Updated on 03/14/2022 06:00 am Shale explorers returned to growth mode this week, adding the most rigs in a month, as the Biden Administration asks them to release more crude to offset a ban on Russian oil. This week 8 oil drilling rigs were added in United Statesreaching a total of 527, the largest increase […]
Russian oil business in Venezuela hinders dialogue between the US and Maduro
Much has been written about the obstacles that hinder a détente between the United States and Venezuela that would allow the South American nation’s oil to begin to flow more freely to international markets. However, one of them has been overlooked: the presence of a Kremlin-owned company in Venezuela’s oil fields. The company, called Roszarubezhneft, […]
Oil: between ecology and energy, the US government walks a tightrope
Between ecology and energy, the United States government walks a tightrope: while pressuring the local oil industry to produce more after the embargo on Russian crude oil exports, it seeks to promote the transition to clean energy. “You can walk and chew gum at the same time!”, US Energy Minister Jennifer Granholm launched on Tuesday […]
Lack of political will to mitigate fuel hike
It took two weeks for the conflict between Ukraine and Russia to force the price of fuel in the Peruvian market to rise, in a context in which the rise for the winter already represented a headache for the household economy. in the northern hemisphere. In this sense, according to Osinergmin, 90% gasohol can be […]
Chavista Venezuela, an unviable substitute for Russian oil in the US
With an industry recovering from years of neglect, corruption and sanctions, the possibility that Venezuela can meet the US demand for Russian oil is unfeasible, at least in the immediate future, experts agree. Washington announced this week an embargo on Russian oil and gas imports, as part of a battery of sanctions against Moscow after […]
Tacna: heavy load drivers and taxi drivers show their concern about the rise in fuel
The increase in the price of fuel generates discomfort among drivers from the different regions of Peru. In Tacna, the leader of heavy load transport, Dante Morales Cabreratold La República that the Oil that used to be at S/ 15 or S/ 16, is now sold in some faucets for up to S/ 18 a […]
WTI oil price rises again and stands at US$ 109.33
Oil prices rose again this Friday in a market that continues to be sustained by fears of disruption to the supply of crude oil due to the war in Ukraine. Thus, the barrel of Brent from the North Sea for delivery in May ended up 3.05% at US$ 112.67, while the barrel of West Texas […]
Oil production fell by 39% during the first days of March
National oil production between March 1 and 8 fell to 25,000 barrels per day. The figure represents a drop of 39% in relation to what was registered in the same period last month, reported the Peruvian Hydrocarbons Society (SPH). According to the union, this setback is due to the lowest production of Lot 95located in […]