Venezuela


All posts for Venezuela

OPEC Takes Small Step... or Maybe Not

OPEC has agreed to rollback overcompliance with the original production deal of November 2016. This appears to mean an increase among the voluntary over-complying countries of 450,000 b/d with the bulk coming from Saudi Arabia, Kuwait, and the UAE. However, the communique could also be interpreted ...

OilVoice Press - OilVoice


Posted 27 days agoOpinion > ESAI EnergyOPECSaudi Arabia +8

Eight Insights Based on December 2017 Energy Data

BP recently published energy data through December 31, 2017 in its  Statistical Review of World Energy 2018 . The following are a few points we observe, looking at the data: [1] The world is making limited progress toward moving away from fossil fuels. The two bands that top fossil fuels that a ...

Gail Tverberg


Posted 29 days agoOpinion > EnergyBPGail Tverberg +6

Oil Sanctions on Venezuela No Longer Needed at Full Scale, Says GlobalData

On Monday 21 st May President Donald Trump signed a new executive order aimed at prohibiting certain oil related transactions with Venezuela. This new sanction package is, however, symbolic in comparison to the more targeted sanctions previously considered that would limit exports of Venezuelan cr ...

OilVoice Press - OilVoice


Posted 1 month agoOpinion > OilSanctionsGlobalData +2

Emerging Market Meltdown Could Undermine Oil Rally

By Nick Cunningham of Oilprice.com Saudi Arabia and Russia just destroyed the oil price rally, potentially putting an end to all the speculation about what the group might do next. But higher production doesn't necessarily mean higher oil prices are entirely out of the question, and in fact, the ...

Oilprice Staff


Posted 1 month agoOpinion > emerging marketsoilpriceOil +5

Maduro Wins, PDVSA Loses

Despite presiding over a period when the Venezuelan economy has been imploding – with skyrocketing inflation, rampant corruption and massive food shortages – Nicolas Maduro was re-elected as President last week. In an election branded as a ‘sham' by many in the international community, the result d ...

Hui Shan


Posted 1 month agoOpinion > Oil and Gasoil priceVenezuela +1

Venezuela’s Long Road to Production Collapse Fueled by Challenging Reservoirs and Underinvestment, Says GlobalData

The collapse of the Venezuelan economy has been fed by a continuing drop in crude oil production. The country's annual production has gone from an estimated 2.86 million barrels per day (mmbd) in 2010 to 2.07mmbd in 2017. The steepest production declines have occurred in the mature fields of the Ma ...

OilVoice Press - OilVoice


Posted 3 months agoOpinion > GlobalDataVenezuelaOil +7

Venezuela’s Crude Oil Production Declines Amid Economic Instability

Source: U.S. Energy Information Administration, Short-Term Energy Outlook Venezuela's crude oil production has been on a downward trend for two decades, but it has experienced significant decreases over the past two years. Crude oil production in Venezuela decreased from 2.3 million barrel ...

OilVoice Press - OilVoice


Posted 4 months agoOpinion > VenezuelaProductionCrude oil +5

OPEC Feb Crude Output 32.39 Mil b/d, Down 70,000 b/d From Jan: S&P Global Platts Survey

OPEC FEB CRUDE OUTPUT 32.39 MIL B/D, DOWN 70,000 B/D FROM JAN: S&P GLOBAL PLATTS SURVEY VENEZUELA FEB OUTPUT LOWEST IN S&P GLOBAL PLATTS SURVEY HISTORY, ASIDE FROM 2002-03 STRIKE LIBYA FEB CRUDE PRODUCTION HIGHEST IN NEARLY FIVE YEARS: S&P GLOBAL PLATTS SURVEY   London (Platts)--06Mar2018/530 a ...

OilVoice Press - OilVoice


Posted 4 months agoOpinion > OPECCrudeOutput +7

S&P Global Platts OPEC Survey for January 2018

  OPEC production well below ceiling of 32.73 million b/d Saudi output 9.99 mil b/d, Iraq 4.41 mil b/d, Iran 3.83 mil b/d Libya, Nigeria combine for 2.91 mil b/d, above 2.80 mil b/d cap Venezuela output falls for sixth straight month to 1.64 mil b/d OPEC's crude production averaged 3 ...

OilVoice Press - OilVoice


Posted 5 months agoOpinion > S&P Global PlattsOPECSurvey +6

Rosneft Global Deal-Making Spree Put Competitors Under Pressure

New exploration deals for Rosneft show how it is able to flex its muscles in the world's most fragile places, and beat other exploration companies to the punch. With the encouragement and backing of the Russian government, competitors need to up their game to access some of the most attractive and h ...

Scott Johnson


Posted 7 months agoOpinion > RosneftVenezuelaVenezuela oil +4

Debt Crisis Undercutting Venezuelan Production

Rystad Energy analysis shows that the Venezuelan debt crisis has caused structural changes in the country's oil and gas sector which significantly undercut its capability to produce oil. As production falls, the country's ability to service its debt decreases which in turn increases the risk of def ...

OilVoice Press - OilVoice


Posted 8 months agoOpinion > Rystad EnergyVenezuelaDebt Crisis +2

Debt Crisis Undercutting Venezuelan Production

Rystad Energy analysis shows that the Venezuelan debt crisis has caused structural changes in the country's oil and gas sector which significantly undercut its capability to produce oil. As production falls, the country's ability to service its debt decreases which in turn increases the risk of defa ...

Julia Weiss


Posted 8 months agoPress > VenezuelaRystad EnergyOil

The 5 Countries That Could Push Oil Prices Up

By Nick Cunningham for Oilprice.com Oil prices appear to be stuck in the $50s per barrel, but that doesn't mean there aren't serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. Geopo ...

Oilprice Staff


Posted 8 months agoOpinion > oil priceIraqIran +4

OPEC Pumped 32.66 Million b/d In September, pP 10,000 b/d From August: S&P Global Platts Survey

       * Venezuelan output slumps to 1.86 mil b/d      * Libyan output recovery still volatile, production up 80,000 b/d      * Saudi output 10 mil b/d; Iraq 4.50 mil b/d; Iran 3.83 mil b/d      * OPEC compliance from Jan-Sep 106%                                  OPEC oil output in Sep ...

OilVoice Press - OilVoice


Posted 9 months agoPress > OPECS&P Global PlattsVenezuela +1

Dr. Daniel Fine: Hurricanes, strategic implications, royalties and prices

Hurricane Harvey last month shut down more than 3 million barrels of oil refinery output or nearly 17 percent of the nation's capacity. Refinery capacity in the Gulf Coast was down over 30 percent on Aug. 30. Whatever caused this hurricane, there is now a risk of future size and scale to be reckoned ...

Will Fine


Posted 9 months agoOpinion > Hurricane HarveyStrategic Oil & Gasoil royalties +36