Petrobras sharpens deepwater focus in quest for value
Petrobras is in a state of transformation, company officials said at a press conference in London, with an eye on selling down assets and tackling debt – in tandem with major expansion plans.
Venezuela
Impairments cut Halliburton’s pre-tax earnings in half
Pre-tax earnings at Halliburton were nearly halved in the first nine months of 2019 amid asset impairments and write-downs of its Venezuelan investments.
Tanker prices spike as sanctions bite
Tanker prices have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
Oil firms face rising threat of government sanctions
Oil and gas companies face an increasing risk of government investigations and significant financial penalties if they do not take appropriate steps to comply with international sanctions measures.
Chevron can stay in Venezuela until October despite sanctions, US says
The Trump administration is allowing Chevron to continue operating in Venezuela at least until October despite US sanctions aimed at ousting President Nicolas Maduro by choking off revenue from the world's largest crude reserves.
Pressure on Trump to bring an end to Chevron’s Venezuela presence
Pressure is mounting on U.S. President Donald Trump to end Chevron Corp.’s 100-year presence in Venezuela as he seeks to exert maximum pressure on the embattled regime of Nicolas Maduro.
US energy powers ahead
As the global industry assembles in Houston for the Offshore Technology Conference, it will be in the midst of a quiet American revolution.
Clashes rock Venezuela as Guaido and Maduro vie for power
Opposition leader Juan Guaido took a bold step to revive his movement to seize power in Venezuela, taking to the streets on Tuesday to call for a military uprising that drew quick support from the Trump administration and fierce resistance from forces loyal to socialist Nicolas Maduro.
Crude at five-month high as U.S. gasoline stockpiles tumble
Crude closed at a five-month high after U.S. government data showed the biggest decline in gasoline stockpiles since 2017, offsetting an increase in crude inventories.
Oil above $70 ‘must be a positive’ as North Sea investors remain cautious
Higher crude prices should encourage North Sea oil companies to dial down the caution and bring forward more new projects, a prominent petro-economist said yesterday.
Colombia sees gain in Venezuela’s pain
As neighboring Venezuela collapses, Colombia is hoping to lure oil majors with an unprecedented bidding system: Producers can propose drilling anywhere, at any time, and the country will look into it.
World Bank arm says Venezuela owes nearly $9bn to ConocoPhillips
Financially struggling Venezuela must pay Houston's ConocoPhillips $8.7 billion for the government's expropriation of the company's investments in Venezuela more than a decade ago, a legal dispute arm of the World Bank ruled Friday.
Maduro gets oil lifeline from Russia after US sanctions hit
Just as Venezuelan state-run oil company PDVSA was running out of an obscure product needed to thin out its crude and keep exports flowing in the wake of U.S. sanctions, Russia is coming to the rescue.
Vitol expects oil to rally as OPEC, Venezuela cause shortage
The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a "shortage" of the low-quality heavy crudes refiners rely on.
How oil led Venezuela to chaos
It is a well-proven maxim that discovering oil can be more of a curse than a blessing and nowhere on the face of the Earth offers better testimony to that than Venezuela, now in the throes of political upheaval.
Guyana could soon eclipse Venezuela’s oil production
Guyana, a country that currently produces no crude, could pump more than OPEC member Venezuela in five years.
Oil holds advance on trade-talk optimism and Venezuelan crisis
Oil held its biggest gain in more than a week as investors assessed the impact of U.S. sanctions against Venezuela, while waiting for the outcome of trade talks between Washington and Beijing.
Venezuela opposition leader backs US oil sanctions
The Venezuelan opposition leader who has declared himself the country's rightful president has said US sanctions against the state-owned oil company fall in line with requests politicians have made to "protect" the nation's assets abroad.
Two Venezuelan presidents raises questions about Opec leadership
Will there be two OPEC presidents now?
Divided Venezuela finds common ground in Guyana dispute
The socialist government of Venezuela and its political opponents at home who have been starkly divided over the past two decades on the best path forward for the country, have suddenly united around a common theme: the century-old dispute with Guyana.
Oil holds loss after worst slump in 3 years on weakening outlook
Oil was showing little sign of recovering from its unprecedented decline as investors flee a market hammered by swelling supplies and a darkening demand outlook.
Oil rises as Venezuela sanctions stoke crude supply concern
Oil extended gains as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles.
Maduro declared winner in disputed Venezuela election
Venezuelan officials declared socialist leader Nicolas Maduro the easy winner of Sunday's presidential election.
PDVSA failed to set firewalls to contain $2bn assault
Venezuela’s state-run oil giant failed to erect firewalls that may have kept ConocoPhillips from freezing its oil assets in the Caribbean.
PDVSA learns Conoco pain may be worse than US sanctions
ConocoPhillips may finish what U.S. sanctions started.