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HomeVenezuela

Venezuela

Financial

Oil prices up on tighter US supply, Venezuela sanctions

January 30, 2019 Energi Staff

Oil prices rose on Wednesday after data from the US Energy Information Administration showed US crude stocks rose less than expected last week due to a decline in imports.  Equinor photo. US oil prices up [Read more]

News

Washington considers sanctions on Venezuelan oil exports

January 23, 2019 Energi Staff

In response to the re-election of President Nicolas Maduro, the Trump administration is considering imposing sanctions against Venezuelan oil exports, however, refiners in the US are concerned it would be even harder to secure heavy [Read more] [Read more]

US sanctions
News

Venezuela: US sanctions hurt global oil market stability

June 21, 2018 Energi Staff

Venezuelan Oil Minister Manuel Quevedo said on Thursday that US sanctions against the OPEC country are an attack on the stability of the global oil market.  PDVSA photo. US sanctions imposed on Venezuela following recent [Read more]

PDVSA exports
News

PDVSA exports down 32 per cent in June due to seizures, shipping backlog

June 20, 2018 Energi Staff

As of Wednesday, over 80 tankers were anchored off the Venezuelan coast waiting to load about 22 million barrels of crude and products for export.  Earlier in the month, the backlog hit 24 million barrels.   [Read more]

EIA
USA

EIA raises crude oil, US gasoline price forecasts for 2018

May 10, 2018 Energi Staff 2

Greater GDP growth has potential to increase oil consumption beyond forecasted levels, putting upward pressure on crude oil prices EIA’s May Short-Term Energy Outlook (STEO) forecasts that Brent crude oil prices will average $71 per barrel (b) [Read more]

PDVSA Caribbean
News

Conoco looks to take over PDVSA Caribbean assets: sources

May 7, 2018 Energi Staff

As part of its $2 billion arbitration award, US oil major ConocoPhillips has received court attachments freezing PDVSA Caribbean assets and can now move to sell them.  Wikimapia photo. PDVSA Caribbean on Curaçao, Bonaire and [Read more]

Canada

1/3 of US Gulf Coast heavy oil market could be supplied by Canada by 2020

April 10, 2018 Energi Staff 2

As supplies from Mexico, Venezuela and other competitors wane, Canadian supply increasing share of refining runs in world’s largest heavy oil market Supplies of Canadian oil sands heavy crude are increasingly being refined on the [Read more]

venezuela
News

Venezuela’s crude oil production declines amid economic, political instability

March 13, 2018 Energi Staff 2

Outages from wildfires in Alberta, Canada and militancy in Nigeria slowed the decline in Venezuela’s exports Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases [Read more]

venezuelan sanctions
News

OAS chief calls for harsher Venezuelan sanctions targeting oil

February 20, 2018 Energi Staff

Luis Almagro, head of the Organization of American States, says Venezuelan sanctions targeting oil industry would be in response to the South American country’s repressive political climate.  El Comercio photo. Proposed Venezuelan sanctions on oil [Read more]

petro cryptocurrency
News

Venezuela looks to pre-sell petro cryptocurrency next week

February 13, 2018 Energi Staff

Critics are concerned the sale of petro crytocurrency nothing more than a debt issuance by Venezuela.  Venezuelan government hopes Petro Cryptocurrency will help relieve economic crisis Venezuelan President Nicolas Maduro said on Tuesday that next [Read more]

venezuelan oil sanctions
USA

US decision on Venezuelan oil sanctions closer: Tillerson

February 8, 2018 Energi Staff

The United States says it is considering imposing Venezuelan oil sanctions in an effort to pressure President Nicolás Maduro to return the South American country to full constitutional order.  AFP/Getty Images photo by Luis Robayo. Venezuelan oil [Read more]

OPEC producers
News

Higher crude supply from US shale, non-OPEC producers counters cartel’s cuts

January 19, 2018 Energi Staff

OPEC producers continue to match and better pledges made to cut their crude output. CNBC photo. OPEC producers cut output by 1.8 million b/d to rebalance market OPEC producers are concerned rising US shale production [Read more]

2018
News

Venezuelan oil output drops in 2017 to 28 year low

January 18, 2018 Energi Staff

Venezuelan oil output has fallen significantly and experts say the decline could continue. AFP/Getty Images photo. Venezuelan oil output down nearly 13 per cent last year OPEC data released on Thursday showed Venezuelan oil output [Read more]

No Picture
Markham on Energy

Trump sanctions on Venezuela could be boon for Alberta oil sands producers

July 24, 2017 Markham Hislop

Pipelines are full, which would mean more oil-by-rail to US Gulf Coast refineries Global heavy crude oil markets are already tight because of OPEC cutbacks and potential sanctions against Venezuela by the United States could [Read more]

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In the Spotlight

Smith’s panel on Alberta’s energy future is a bad joke

by Markham Hislop in Markham on Energy

“A new advisory panel will develop a long-term vision for Alberta’s energy future and recommend steps the province should take to ensure the industry [emphasis added] continues to thrive for decades to come.” Premier Danielle [Read more]

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