Link

The Prospects of Venezuelan Oil


  • At some point in 2019, crude production in Venezuela will dip below the 1 mmb/d level.
  • PDVSA – once an oil industry crown jewel – has been hammered, from its cargoes being seized by ConocoPhillips for debts owed to the loss of the Curacao refinery and its prized Citgo refineries in the US.
  • But what is pain for Venezuela is gain for OPEC; the slack that its declining volumes provides makes it easier to maintain aggregate supply levels aimed at shoring up global oil prices.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://nrgedge.net/article/1547108187-the-prospec...

VenezuelaOilgasnewsoil and gas newsnrgedge

More items from huishan


TODAY IN ENERGY: The U.S. leads global petroleum and natural gas production with record growth in 2018

For the United States and Russia, petroleum and natural gas production is almost evenly split; Saudi Arabia's production heavily favors petroleum. Petroleum production is composed of several types of liquid fuels, including crude oil and lease condensate, natural gas plant liquids (NGPLs), and bi ...

Hui Shan


Posted 10 hours agoLink > ProductionsupplyOil +5

Your Weekly Update: 12 - 16 August 2019

The momentum for crude prices abated in the second quarter of 2019, providing less cushion for the financial results of the world's oil companies. If split evenly, Aramco's net profits would be more than the five supermajors combined in Q219. As it led the way in adhering to the OPEC+ club's cur ...

Hui Shan


Posted 5 days agoLink > oil and gas companiesnewsweekly update +7

The State of the Industry: Q2 2019

In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...

Hui Shan


Posted 6 days agoLink > ShellExxonMobilBP +6

TODAY IN ENERGY: Australia is on track to become world’s largest LNG exporter

In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...

Hui Shan


Posted 7 days agoLink > InternationalexportsImports +6

Your Weekly Update: 5 - 9 August 2019

In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...

Hui Shan


Posted 13 days agoLink > Oiloil and gas newsOil and Gas Industry +7
All posts from huishan