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Tag: Petroleum

Ecuador foresees 5,000 additional barrels of oil with new wells in the Amazon

Ecuador foresees 5,000 additional barrels of oil with new wells in the Amazon Ecuador foresees 5,000 additional barrels of oil with new wells in the Amazon

Ecuador foresees additional production of about 5,000 barrels of Petroleum additional per day until the end of 2024, thanks to the drilling of nine wells on a platform in the Amazon province of Orellana. The state company Petroecuador reported this Thursday that its technicians began drilling the first of those nine wells in the Sacha […]

TotalEnergies buys 50% of a gas operator in Malaysia for US$ 903 million

TotalEnergies buys 50% of a gas operator in Malaysia for US$ 903 million TotalEnergies buys 50% of a gas operator in Malaysia for US$ 903 million

TotalEnergies signed an agreement with the Austrian company OMV to buy, for US$ 903 million, a 50% stake in a subsidiary that produces gas in MalaysiaThe French company reported this Wednesday. The French oil giant explained in a statement that the US$903 million it will pay for SapuraOMV includes the assumption of a US$350 million […]

The US warns Maduro that he has until April to fulfill agreements with the opposition

The US warns Maduro that he has until April to fulfill agreements with the opposition The US warns Maduro that he has until April to fulfill agreements with the opposition

The White House this Monday warned the Government of Nicolas Maduro which has until April to comply with the agreements reached with the opposition before USA make decisions about sanctions. “We have options at our disposal. I’m not going to advance any of them at this time, but we certainly have options regarding sanctions and […]

The EU extends economic sanctions against Russia for six months over the war in Ukraine

The EU extends economic sanctions against Russia for six months over the war in Ukraine The EU extends economic sanctions against Russia for six months over the war in Ukraine

The European Union This Monday extended for six more months, until July 31, 2024, the economic sanctions that it has approved against Russia for the invasion of Ukraine. The twenty-seven began to adopt restrictive measures against Moscow since the annexation of Crimea in 2014, but intensified them after the large-scale invasion of Ukraine, on February […]

Venezuela and China evaluate cooperation opportunities in oil and gas matters

Venezuela and China evaluate cooperation opportunities in oil and gas matters Venezuela and China evaluate cooperation opportunities in oil and gas matters

authorities of Venezuela and China evaluated, in a meeting in Caracas, opportunities for cooperation in the oil and gas sectors, said the Venezuelan state company PDVSA. In oil cooperation between both nations”, in addition to evaluating “new opportunities for cooperation”. For his part, Tellechea indicated that, at the meeting, they reviewed the “positive evolution of […]

British oil company BP appoints interim boss as new CEO

British oil company BP appoints interim boss as new CEO British oil company BP appoints interim boss as new CEO

The great oil British BP announced on Wednesday that its interim CEO Murray Auchincloss will take over the role permanently, replacing Bernard Looneywho resigned when it was revealed that he hid his relationships with company colleagues from the board of directors. Auchinclossa 53-year-old Canadian who was BP’s financial manager for more than three years, took […]

Transport of liquefied gas “will be affected” by tension in the Red Sea, warns Qatar

Transport of liquefied gas “will be affected” by tension in the Red Sea, warns Qatar Transport of liquefied gas “will be affected” by tension in the Red Sea, warns Qatar

The transportation of natural gas smoothie “will be affected” due to the escalation of tension in the Red Seawarned this Tuesday the prime minister of Qatar, one of the largest producers in the world. “Liquefied natural gas (…), like all other commodities, will be affected” by “dangerous climbing” in the Red Sea, off the coast […]

The US will economically penalize methane emissions in the oil and gas sector

The US will economically penalize methane emissions in the oil and gas sector The US will economically penalize methane emissions in the oil and gas sector

The Government of the USA announced that it will financially penalize emissions of methane of the sector of Petroleum and of natural gas to reduce the pollution caused by gases greenhouse effect. He Methane Emissions Reduction Programas stated in a statement by the United States Environmental Protection Agency (EPA), will force those oil and gas […]

Global oil demand would increase by 2 million BPD in 2024, but prices would still fall

Global oil demand would increase by 2 million BPD in 2024, but prices would still fall Global oil demand would increase by 2 million BPD in 2024, but prices would still fall

Two reports released this morning by the Reuters agency show the uncertainty surrounding world oil production in 2024, a year preceded by the slowdown of the main world economies and the escalation of interest rates. Initially, consulting firm Wood Mackenzie predicted that global oil demand will increase by almost 2 million barrels per day (BPD) […]

Global oil falls due to increase in OPEC supply and price cut by Saudi Arabia

Global oil falls due to increase in OPEC supply and price cut by Saudi Arabia Global oil falls due to increase in OPEC supply and price cut by Saudi Arabia

The price of Texas intermediate oil (WTI) opened this Monday with a drop of 3.96% and stood at US$70.89 a barrel, after Saudi Arabia announced yesterday a cut in crude oil prices for its Asian clients . At 9:01 a.m. local time (14:01 GMT), WTI futures contracts for delivery in February were down US$2.92 compared […]