Mystery has continued to swirl around the responsibility and ownership of a vessel leaking oil offshore Trinidad and Tobago.
Venezuelan Foreign Minister Yvan Gil said his country "categorically rejects the arrival” of HMS Trent. This, he said, was “an act of hostile provocation and a violation of the recent Argyle Declaration".
The president has given companies operating in Essequibo three months to withdraw. ExxonMobil's Stabroek block is at least partly within the Essequibo marine territory.
The briefing pack on the various countries often reiterated one point. “There is no conflict between sustainable development of any country’s natural resources and its commitment to climate change.”
Young said his country would work with Venezuela “to advance the development and production of Venezuelan natural gas for export and utilisation in Trinidad and Tobago. We have reached a significant agreement and milestone.”
The World Bank arbitration court awarded $77 million to Exxon Mobil Corp. in a resubmitted claim worth $1.4 billion over the nationalization of Venezuela’s Cerro Negro and La Ceiba crude projects in 2007.
This year, the company aims to focus its spending in Gabon. It will spend $100mn on development, of which $85mn will be in Gabon.
Operations had returned to normal in the third quarter in Gabon, Maurel said. The company began a well stimulation campaign in the fourth quarter of 2022, with the field now capable of producing more than 21,000 bpd.
Glencore has agreed to pay penalties of $1.06 billion to US and Brazilian authorities. More is to come in a UK settlement with the Serious Fraud Office (SFO).
Oil stored in ships has been piling up off key Asian ports as a crackdown in China on private crude oil processors has blunted purchases and disrupted flows, including some US-sanctioned barrels from Iran.
French oil company TotalEnergies and Norway’s Equinor decided to quit a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered.
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs of U.S. sanctions.
Six American oil executives held for three years in Venezuela have been found guilty of corruption charges by a judge and immediately sentenced to prison.
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
Venezuela’s fuel crisis is poised to deteriorate even further after one of its biggest refineries was halted over the weekend following a nearby oil spill.
India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.
“Baselines matter” is one takeaway from the deal brokered over the weekend to save the market.
The Trump administration has announced sanctions on a Russian state-controlled brokerage that has helped the Venezuelan government skirt an US oil embargo and enabled President Nicolas Maduro to keep his grip on power in the South American country.
Trump administration officials have given five energy companies with strong ties to Houston another three months in the oil fields of Venezuela.
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.
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 have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
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.
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 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.