The price of a barrel of Brent crude, a benchmark for Europe, again exceeded the threshold of 100 dollars on Wednesday, after Saudi Arabia speculated on the possibility of an adjustment in the production of the Organization of Petroleum Exporting Countries (OPEC). ) and waiting to know the inventory…
Read More...
Browsing Tag
oil
Citgo posted record profits in the second quarter of the year
This Thursday, Citgo announced that it obtained record net profits during the second quarter of the year thanks to an increase in crude processing volumes as well as stronger margins.
According to the refiner's report, the results show an…
Non-associated gas is the future of Venezuela
The oil specialist José Toro Hardy pointed out, in a radio program, that the future of Venezuela lies in gas, particularly non-associated gas. The Caribbean country has large reservoirs throughout the territory that have not yet been…
Caribbean leaders agree to resume the PetroCaribe program
The Prime Minister of Saint Vincent and the Grenadines, Ralph Gonsalves, reported that different Caribbean leaders agreed to restore the PetroCaribe program, with the purpose of importing crude oil from Venezuela.
This new plan for…
France asks for the return of Venezuela to the oil market
A close official of the French presidency assured that they requested the reincorporation of Venezuela and Iran into the oil market.
"France considers it essential that the entire international community, buyers and producers, mobilize to…
Biden considers temporarily freezing gasoline taxes
Joe Biden, president of the United States, is evaluating the possibility of temporarily freezing the federal tax on gasoline, a measure that could place the price of a gallon at 18.4 cents for drivers.
Biden affirmed that he was analyzing…
Oil demand will exceed pre-pandemic levels
Global oil demand will exceed the level before the Covid-19 pandemic until 2023, according to the International Energy Agency (IEA), which estimates that world crude oil consumption will reach 101.6 million barrels per day (mb /d).
In its…
US Senate considers regulating cryptocurrencies as commodities
The US Senate is studying the bipartisan bill called the Responsible Financial Innovation Act, which would give cryptocurrencies the status of commodities, such as oil or coffee, and would be under the supervision of the Commodities Futures…
Iran and Venezuela sign agreement to recover El Palito refinery
The state company National Iran Oil Engineering and Construction Company (Naftiran) signed an agreement with the Venezuelan government for 110 million euros in order to recover and put into operation the El Palito refinery and be able to…
G7 confirms that restrictions on Russian oil will remain
The leaders of the G-7, made up of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, promised to ban imports of Russian oil at the end of the remote summit, according to the final declaration published by the…
Venezuelan oil exports drop in April
Venezuela registered an average oil production of 420,000 barrels per day in April, some 410,000 barrels per day less than the goal established by PDVSA, which projected some 830,000 barrels per day of production for last month.
According…
OPEC will increase its oil supply in June
The Organization of Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, decided to increase their joint crude oil production by 432,000 barrels per day starting next June, they reported in a statement.
At the end…