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 […]
Tag: Petroleum
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
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 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
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
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 […]
Former director of Chinese state oil company CNPC arrested for accepting bribes
The Supreme People’s Prosecutor’s Office of China today ordered the arrest of Xu Wenrong, former CEO of China National Petroleum Corporation (CNPCacronym in English), for alleged acceptance of bribes. According to a statement from the Prosecutor’s Office, Xu He was detained by the authorities after an investigation carried out by the National Supervision Commission, the […]
Mexican Pemex explores business opportunities in Venezuela
Directors of the state company Petróleos Mexicanos (Pemex) held a meeting this Friday in Caracas with their peers from Petróleos de Venezuela (PDVSA) to explore business opportunities, two weeks after a first meeting between the authorities of both companies, held in Ciudad de Mexico. The state channel VTV showed images of today’s meeting, in which […]
Oil company Petrobras begins drilling in the controversial Equatorial Margin
The Brazilian state Petrobras announced this Saturday that it began drilling in the new oil horizon known as the Equatorial Margin, a region located in the north of the country and whose exploitation has caused controversy due to its proximity to the mouth of the Amazon. The company began work in search of oil and […]
Who are the Houthis and why do they attack ships transiting the Red Sea?
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He International Trade He is a victim of war. A few days ago, freight ships in the Red Sea were attacked by rebels Yemen Houthis causing shipping companies and oil companies temporarily suspend their transit through said route. But what is the interest of the Houthis? Why do they attack? Who supports or finances them? […]