This weekend, the Korsou Refinery (RdK), in Curaçao, announced the restart of operations, with the bet of receiving oil from Venezuela.
The facility was operated by the Venezuelan PDVSA between 1985 and 2019, the year in which the concession contract expired. Now, the RdK reopens and hopes to have…
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oil
Iraq will reduce oil exports to compensate for excess production
Iraq announced it will reduce its oil exports to 3.3 million barrels a day to balance any increase above its OPEC+ quota in January and February.
The announcement was made this Monday by the Iraqi Ministry of Oil, in line with the…
Oil sanctions against Venezuela return in April
Sanctions on the oil and gas sectors of Venezuela will return in the month of April, as announced this Tuesday by United States authorities.
The State Department issued an official statement stating: "The actions of Nicolás Maduro and his…
Mexicana Dos Bocas will begin refining fuel in April
Starting next April, the Dos Bocas refinery in Mexico will begin refining fuel. The announcement was made by the country's President himself, Andrés Manuel López Obrador, in his morning press conference this Monday, March 11.
Obrador…
Brent crude oil rose 0.25 %
At the close of this Wednesday, March 6, Brent crude oil reached USD 82.83, which according to oil industry specialists represents an increase of 0.25 %.
Among the factors that favor this upward trend is the current positive macroeconomic…
PDVSA and Repsol strengthen binational cooperation
Strengthening cooperation between the oil companies of Spain and Venezuela has been the main focus of the visit of the Minister of Energy and Petroleum of Venezuela and president of the state-owned oil company of Venezuela, Rafael…
US overtakes Saudi Arabia in oil production
The US already produces 40% more oil than Saudi Arabia, and the gap continues to widen. This situation, which seemed unimaginable less than 10 years ago, has become a reality thanks to the success of fracking (hydraulic fracturing) and…
Russia is the main supplier of oil to China
Russia became the main oil supplier to China in 2023, overshadowing Saudi Arabia's performance in this matter.
Likewise, last year, Chinese imports of fuel oil to Russia reached a record of 9.6 million tons. For its part, “Malaysia was the…
The U.S. had a surge in its oil reserves
Commercial oil reserves in the United States experienced an unusual increase of 1.3 million barrels over the past week, altering market projections. As reported by the U.S. Energy Information Agency (EIA) last Wednesday, this change defies…
Texas Oil had its first year in red since 2020
Texas oil dropped almost 11% in value during 2023, marking its first negative year since 2020, when the COVID-19 pandemic erupted. This decline is attributed to volatile factors and, above all, to doubts about the capacity of demand to…
PDVSA-Repsol agreement will contribute to the revitalization of the oil industry
The president of the Venezuelan company PDVSA, Pedro Tellechea, indicated this Monday that they achieved the signing of a framework agreement with the Spanish company Repsol with the aim of reactivating the Petroquirquire joint venture. The…
India will buy oil from Venezuela
The relaxation of United States sanctions on Venezuela has brought new business opportunities in the oil area, where countries like India once again trust the country as a supplier of this important sector.
In this sense, Indian Oil…