Mary Hogan, Laura Huchzermeyer, Mery Mogollon and Maria-Eugenia Garcia
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November 27, 2018 15:00 UTC 
(1)
Two rare cargoes of US Gulf Coast crude could be making their way to Venezuela, according to S&P Global Platts fixtures reports. Last week, Vitol was heard to have booked two Panamax-sized vessels to move crude from the USGC to Venezuela. Panamax vessels can carry roughly 500,000-800,000 barrels of crude oil. One of those vessels, the SCF Pacifica, was loaded in Houston over the weekend. |
Herman Wang
Senior writer, oil news
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September 6, 2018 15:30 UTC
(2)
Saudi Arabia is putting its crude production capabilities – and its ability to balance the oil market – to the test. The kingdom finds its oil production policy at a crossroads, with the need to appease allies countered by its desire for higher prices to balance its books. |
Meghan Gordon
Senior writer, oil
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August 17, 2018 04:01 UTC
(1)
Venezuela’s beleaguered oil company PDVSA tried to use US sanctions to its own advantage recently — a bold move that ultimately failed. This played out in a US legal dispute over a Canadian gold miner seeking to recoup assets seized by the Venezuelan government. |
Brian Scheid
Senior editor, oil news
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August 7, 2018 11:00 UTC
(6)
Just more than a year ago, it was not a question of ‘if’, but ‘when.’ As Venezuela’s leftist leader Nicolas Maduro consolidated power in an election derided as a fraud by the international community, the Trump administration readied exacting sanctions on the South American nation’s oil sector. |
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Herman Wang
Senior writer, oil news
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March 23, 2018 17:25 UTC
(8)
Slight in physical stature, but colossal in the world of oil diplomacy, Alirio Parra was laid to rest Friday in London, hailed by influential figures in the industry for his role in founding OPEC in 1960, building up Venezuela’s PDVSA and smoothing the often turbulent currents of geopolitics. “Very big loss to the industry and ourselves,” OPEC Secretary General Mohammed Barkindo, who attended the funeral, told S&P Global Platts. “We lost a reliable and dependable friend.” |
Maria Eugenia Garcia
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November 28, 2017 08:38 UTC
(1)
Imports of Venezuelan crude into the Louisiana Offshore Oil Port have totaled over 7 million barrels from January to November this year, almost three times the 2.5 million barrels in the same period of 2016, according to US Customs data. The dramatic climb came despite the Trump administration’s threats to ban Venezuelan crude imports into the US and the shutdown of US Gulf Coast refineries due to hurricanes Harvey and Nate. |
Mary Hogan
Associate editor, Americas crude
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September 26, 2017 05:01 UTC
(0)
The Louisiana Offshore Oil Port has seen a month-on-month drop in heavy Latin American crude imports, impacted by high regional prices and falling Venezuelan crude production. Month on month, LOOP has imported about 355,740 fewer barrels so far in September than it did in August, according to data from Platts Analytics and US customs. The 3.089 million barrels imported into LOOP during September include Mexican, Brazilian, Colombian and Venezuelan heavy sour grades. Brazil, Colombia, crude, crude oil, imports, In the LOOP, Latin America, LOOP, LOOP Sour, Mexico, oil, sour crude, US, US Gulf Coast, USGC, Venezuela
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Mery Mogollon
Reporter
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September 18, 2017 04:01 UTC
(2)
Despite the billions of dollars that have flowed into Venezuela’s state-owned PDVSA in recent years, crude oil and refining output continues to languish. It is not lack of investment hindering growth but a more human flaw—corruption. The deleterious effects of corruption have been recognized by oil minister Eulogio Del Pino and he has promised to squash it. “The cancer of corruption has to be attacked all-out,” he said earlier in June at the headquarter offices of Intevep, a subsidiary of PDVSA. |
Robert Perkins
Senior writer/editor
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July 10, 2017 06:34 UTC
(7)
Venezuela’s claim of being home to the world’s largest oil reserves based on its massive Orinoco heavy oil belt has been the subject of industry skepticism for years. |
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Brian Scheid
Senior editor, oil news
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October 24, 2016 04:30 UTC
(1)
The recent invitation by OPEC for US officials to join in production freeze talks is clearly a nod to the production powerhouse Americas has become as a result of the shale revolution. But it wasn’t always that way. Just ask former US Energy Secretary Bill Richardson, who, 16 years ago, was the point person in talks with Saudi Arabia to boost production, which would keep US gasoline prices stable. |
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