Goldman Sachs estimates that oil demand will continue to rise in 2022, reaching a record level, largely thanks to fuel requirements for the transportation and aviation sectors, if the gradual reopening of the borders is taken into account.
The investment group even foresees that consumption will…
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Venezuela increased its oil production to 625 thousand barrels a day
The Organization of Petroleum Exporting Countries (OPEC) published in its November report that Venezuela increased its oil production for the fourth consecutive month, achieving an average of 625,000 barrels per day, which represents an…
Entrepreneurs from Guyana and Mexico study investment projects
Members of the Omega Industrial Group and other Mexican businessmen met with the President of Guyana, Mohamed Irfaan Ali in order to analyze the feasibility of a group of infrastructure projects that could be developed in the South American…
Chevron operations in Venezuela extended until 2022
The United States Department of the Treasury extended the operations of the companies Chevron Corporation, Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International, Public Limited Company until June 1st,…
The US will release 50 million barrels of oil
Joe Biden, president of the United States, issued instructions to release 50 million barrels of oil from the country's reserves, with the purpose of mitigating the increase in fuel prices.
Biden is working in coordination with a group of…
OPEC will continue to increase oil production
The ministers of the Organization of the Petroleum Exporting Countries (OPEC) and the representatives of the allied producers, led by Russia, which together form the so-called OPEC +, agreed to go ahead with the gradual increase in the…
Brazil aims to enter the top 5 oil exporting countries by 2030
Brazil aspires to become one of the five main oil producing and exporting countries in the world by 2030. This was announced by the Minister of Mines and Energy of Brazil, Bento Albuquerque, within the framework of the Saudi Green…
Rise in oil prices will not benefit Venezuela
A barrel of oil could increase by the order of 100 dollars by the end of the year. This was reported by economist Rafael Quiroz, who pointed out that these upward estimates are a consequence of the global crisis caused by the energy crisis.…
Barrel Brent passes the $ 85 mark
The price of Brent oil, the benchmark for Europe, surpassed the threshold of $ 85 per barrel on Friday for the first time since 2018, fueling pressures on energy prices and inflation.
However, after the opening of the markets of the Old…
Shell sells assets to ConocoPhillips for 9.5 billion dollars
The oil company Shell reported that it reached an agreement with the US company ConocoPhillips for the sale of its assets in the Permian oil basin, located in Texas (USA), for about 9.5 billion dollars.
The information was released through…
Economic activity in Venezuela fell 2.2 %
The Venezuelan Finance Observatory reported that "economic activity in Venezuela fell 2.2 % in the second quarter of 2021", registering a total of 25 consecutive quarters in the fall in the economic activity index. However, the reported…
OPEC + agreed to maintain production increase at 400,000 barrels per day
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC +, agreed on Wednesday to keep their plans to increase crude production by 400,000 barrels a day, the cartel reported in a statement.
OPEC…