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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? […]
Tag: raw
Oil reaches maximum levels of 2023 amid expectations of a shortage in supply
This Thursday, September 14, the oil prices reached their highest point of the entire year, iDriven by tighter supply prospects, which prevailed over concerns related to weaker economic growth and rising U.S. crude oil inventories, according to Reuters. At 11:24 a.m. (CET) (15:24 GMT), the price of the Brent oil registered an increase of US$1.74, […]
OPEC: “The world cannot live without oil” and will not be able to in the foreseeable future
The current president of OPEC, the Equatorial Guinean Antonio Oburu Ondo, stated this Wednesday in Vienna that “the world can’t live without Petroleum” and that it will not be able to do without this fossil source in the foreseeable future, given the energy needs of the planet. “The reality of energy is that the world […]
Equinor will be able to drill an offshore well in the Argentine sea from December
Norwegian oil company Equinor will be able to drill a well that is part of an ‘offshore’ project in the North Argentina Basin (CAN) that will take place between next December and June of next year, after the Argentine Government gave it authorization this Tuesday . A resolution of the Secretariat for Climate Change published […]
The oil future of Ecuador, at stake with an unprecedented national consultation on the Yasuní
Ecuador faces a crucial moment for the future of its Petroleumone of the great pillars of his economy, that is at stake with the unprecedented national referendum to prohibit the exploitation of Block 43-ITT, Deposit located under the Amazon jungle of the National Park Yasunione of the world epicenters of biodiversity. Of the around 480,000 […]
Argentina begins filling a new gas pipeline, key to developing Vaca Muerta
Argentina The filling of the tank began this Tuesday pipeline President Nestor Kirchner (GPNK), the key engineering work to expand production and evacuate gas from the gigantic formation of hydrocarbons unconventional from Vaca Muerta, in the southwest of the country. “What happens today, Tuesday, June 20, is the beginning of the filling, as it is […]
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 […]
Crude is heading for its worst week in more than a decade: WTI barrel closed at $110.60
Black sunset. The prices of Petroleum They closed this Wednesday at the highest since 2011 for WTI and since 2014 for Brent, driven by the war in Ukraine, sanctions against Russia and fears about the supply of black gold. A barrel of West Texas Intermediate (WTI) for April delivery rose 6.95% to $110.60, a peak […]
Sanctions against Russia make it difficult for Venezuela to benefit from the rise in crude oil
The benefits that Venezuela would obtain with the rise in oil prices will be reduced as a result of international sanctions against Russia, after the invasion of Ukraine, since a large part of the payments received by the country go through Russia, explained economists specialized in the sector. . “There is a specific problem for […]
The US and partners are in the “early phases” of a plan to release crude oil reserves globally
Updated on 02/24/2022 03:51 pm US officials have been working with their counterparts in other countries on a combined release of oil from the world’s strategic crude reserves, two sources said, with one adding that the plan is in the “early stages.” Prices of Brent crude, the international benchmark, soared above $105 a barrel after […]