Shell, the second largest producer of Petroleum of Brazil, expects the Government to authorize oil exploration in the Equatorial Margin, an oceanic region that includes the controversial part located in front of the mouth of the Amazon River, to define their investments in the country. “If the Government decides to open the Equatorial Margin and […]
Tag: Petroleum
Petroecuador exceeded 411,000 barrels per day of crude oil and gas
The public company of Petroleum of Ecuador, Petroecuadorreported that this Sunday it exceeded 411,000 barrels of oil equivalent (raw and gas). “Thanks to successful planning and the commitment of all workers, we have achieved this day, 401,863 barrels of oil and a consolidated 411,071 including gas,” said the acting general manager of Petroecuador, Reinaldo Armijos […]
Anadarko will begin seismic work in March 2024
The oil company Anadarko will officially begin its seismic work on the marine lots Z-61, Z-62 and Z-63, located off the coast of La Libertad, between the months of March and April 2024, with the aim of putting them into production by 2027 . During the I Energy and Mines Commission Forum of the Congress […]
It is not Venezuela: which is the country that produces the most oil in Latin America?
Despite the climate crisis, the international market continues to require large quantities of crude oil, although the idea is that this trend will decrease as renewable energies take their place. According to the International Energy Agency (IEA), world oil production will increase by 5.8 million barrels per day by 2028. Although at first the countries […]
Greenpeace: companies corrupt the negotiation of a treaty against plastic pollution
The NGO Greenpeace today regretted that meetings aimed at moving towards a legally binding global treaty on plastic pollution being held in Nairobi have been corrupted “by the producers of Petroleum and gas”whom they accuse of diverting the negotiations. “Governments are allowing fossil fuel interests to drive negotiations towards a treaty that will undoubtedly worsen […]
Chevron sends fuel to Venezuelan PDVSA in oil exchange expansion
The oil Chevron Corp has begun to supply fuel to the state company PDVSA following Washington’s approval of a license for the oil and gas sectors of Venezuela, three people familiar with the matter said Thursday. Chevron and PDVSA had previously stuck to an agreement signed in 2022 to expand some operations, which included exchanging […]
Venezuela turns to oil companies to increase production
The Venezuelan state PDVSA is in talks with local and foreign oil contractors to employ equipment and services that will allow it to reactivate depressed production, sources said, after USA relax sanctions on the country. In October, the Treasury Department authorized the production and export of Venezuelan crude oil, gas and fuels, the acquisition of […]
WTI oil climbs to US$81.82 per barrel after confirmation of cuts from Saudi and Russia
The price of Petroleum Texas Intermediate (WTI) opened this Monday with a rise of 1.63%, to US$83.14 per barrel, after having closed last week with five consecutive days of declines. At 14:00 GMT, WTI futures contracts for delivery in December gained US$1.31 compared to the previous day’s close. If in recent weeks it was the […]
Saudi Arabia and Russia to continue additional voluntary oil cuts
The main exporters of Petroleum, Saudi Arabia and Russiaconfirmed on Sunday that they will maintain their additional voluntary oil production cuts until the end of the year, as concerns about demand and economic growth continue to weigh on crude markets. Both countries indicated that they will review their cuts next month to study the possibility […]
Argentina promotes a law for investments in mature oil areas
The government of Argentina sent to Parliament a bill to encourage investments in mature hydrocarbon areas, official sources confirmed to EFE this Saturday. The initiative, whose submission to Congress had been anticipated days ago by the Minister of Economy and presidential candidate, Sergio Massaincludes elimination of taxes and other fiscal incentives for the exploitation conventional […]