Venezuela eyes first-ever refining of foreign oil
HOUSTON - Venezuela is considering refining foreign crude for the first time to produce fuels, the latest sign of the country's strain to meet its obligations despite having the world's largest crude reserves. State-run More...
Crude oil rises despite weaker commodities
WASHINGTON - Crude oil futures rose Tuesday, even as US stocks and other commodities melted down. Oil has surged to 4-year highs amid speculation that OPEC will continue to cut production. Saudi Arabia and other More...
WTI oil rises above $70 a barrel on U.S.-Iran sanctions
NEW YORK - Crude futures in New York topped $70 a barrel for the first time since November 2014 as traders brace for a re-imposition of U.S. sanctions on Iran that risks disrupting exports from OPEC’s third-largest More...
Venezuela resorts to swaps to get imported oil for Curaçao refinery
WILLEMSTAD - Venezuela's state oil firm PDVSA has resumed crude imports for its 335,000-barrel-per-day Isla refinery in Curaçao after a seven-month pause, as it seeks to turn around falling fuel output, according More...
Venezuela delays crude shipments
HOUSTON - Venezuelan state oil company PDVSA has delayed and cancelled crude deliveries to commercial partners in recent months, according to documents seen by Reuters, a further sign of the steady production decline More...
Venezuela’s light crude habit soaks up US exports
HOUSTON - Venezuela’s thirst for light crude imports could play an interesting role in crimping as much as 300,000 b/d of its own crude exports. That would amount to a whopping 14% of Venezuela’s 2.12 million More...
Export crude oil declined 7 percent in March
WILLEMSTAD - Exports of Venezuelan crude to the United States fell almost 7 percent in March versus the same month of 2015 to 793,581 barrels per day (bpd), according to Thomson Reuters Trade Flows data, affected More...
Oil down 1 percent after hitting 2009 lows
Oil futures ended lower with Brent down over 1 percent on Tuesday after plumbing near seven-year lows on fears global oil producers will pump even more crude in battle for share in a saturated market. Both Brent More...
Oil steady after IEA sees sharp decline in investment
Oil prices were steady on Tuesday after the International Energy Agency noted unprecedented declines in investment, though the overall picture of an oversupplied market limited any gains. Brent crude LCOc1, the More...
Curabieren Bubble Bursts?
WILLEMSTAD - Today 28 October marks the first anniversary of the establishment of Curacao’s national oil company, Kompania di Petroli I Gas di Korsou (or KPG). Precisely one year ago, and with a certain amount More...
