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 shale oil (shale oil) in the United States. The American nation…
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Latin America must increase its copper production
According to the Latin American Energy Organization (Olade), Latin America and the Caribbean will have to double its copper production and tenfold its lithium production over the next 20 years to meet global demand for these two minerals…
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…
Saudi Arabia and Russia extended their cuts until the end of the year
Saudi Arabia and Russia announced the extension of their voluntary oil production cuts until the end of the year, which has had an immediate impact on crude oil prices. This decision seeks to stabilize prices and has taken the value of a…
Oil production increased to 30 million barrels per day
The Organization of the Petroleum Exporting Countries (OPEC) released its monthly report, noting that oil production has risen to 30 million barrels per day, representing an increase of 117,000 barrels per day since January. The additional…
Chevron could recover around 100,000 barrels a day in six months
Chevron could be able to recover about 100,000 barrels a day in six months, according to Antero Alvarado, managing partner of Gas Energy Latin America in Venezuela.
After Chevron received limited authorization to resume oil extraction in…
Volkswagen starts production of the electric ID.4 in the United States
The Volkswagen group has started production of its ID.4 electric compact SUV in Chattanooga in the state of Tennessee, becoming the company's first electric vehicle assembled in the United States, the company said in a statement.
The…
PDVSA revenues exceed 69 % between January and May 2022
Between January and May 2022, Petróleos de Venezuela (PDVSA) has obtained revenues of more than 6,100 million dollars, equivalent to more than 69 % of the financial resources that entered the Treasury of the state company during the same…
Venezuelan cocoa farmers will increase production to 60,000 tons
The Venezuela Committee of the World Farmers Organization, together with the Barlovento Cocoa Conglomerate and the National Trade Union Coalition, estimate that cocoa production in the country will gradually increase to 60,000 tons within…
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…
German businessmen demand energy from renewable sources
The president of the Association of German Chambers of Industry and Commerce (DIHK), Peter Adrian, called for the measures planned by the German government to expand the production of electricity from renewable sources to be improved and…
Venezuela will produce a maximum of one million oil barrels per day
The economist and oil expert Rafael Quiroz pointed out that the most Venezuela could produce this year is one million barrels per day. In his opinion it is "impossible" for the country to produce 2,000,000 barrels of crude oil per day, as…