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Oct 27 (Reuters) - The first cargo of Venezuelan crude under a deal between the US and producer NABEP unloaded in Texas on Tuesday and will be sold by the US government to refineries run by Exxon Mobil and Venezuelan-owned Citgo Petroleum, a White House official said. NABEP confirmed in a statement it supplied 1... Continue Reading →
Oct 23 (Reuters) - SLB beat Wall Street estimates for third-quarter profit on Friday, supported by strong North American oilfield activity, while signaling recovery in parts of the Middle East following conflict-related disruptions. Repeated flare-ups in the US-Iran conflict, now in its eighth month, have pressured oilfield services companies with significant exposure to the region... Continue Reading →
Oct 22 (Reuters) - Thousands of Venezuelans took to the streets on Thursday in the first nationwide opposition protest in nearly two years, as demonstrators demanded free elections and other political changes with a notably thin presence of security forces. The United States has been working closely with the interim government led by acting President... Continue Reading →
Oct. 22 (seeking alpha) Weatherford International (WFRD) jumped 8.6% in Wednesday's trading after easily beating Q3 earnings estimates and saying its Venezuela business could reach its previous peak of $500M in annual revenue in the next few years. Q3 profit rose to $120M, or $1.66/share, from $81M, or $1.12/share, in the year-earlier quarter, while revenue... Continue Reading →
Oct. 22 (AP) A single figure sets Venezuela apart from the rest of the world: 303 billion barrels of so-called proven oil reserves. But experts say the country's estimate is inherently problematic and far from proven — rooted in exaggerated, aging data from a corrupt government. The number has long been touted by politicians and... Continue Reading →
Oct 19 (Reuters) - Oilfield service companies including Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela, according to company websites, an early sign that a Washington-backed plan to rebuild the country's energy industry is gaining traction. The hiring could help reverse a sanctions-era exodus of companies and professionals from... Continue Reading →
Oct 17 (Reuters) - Venezuela expects nearly $76 billion in oil investment over the next five years under recently signed agreements, acting President Delcy Rodriguez said on Saturday, adding that a bilateral accord with the US includes plans to drill 250 rigs. Since the January ouster of President Nicolas Maduro, the country has been reopening... Continue Reading →
Oct. 6 (oilprice.com) Centuries ago, the untamed jungles of Venezuela’s Orinoco Basin helped power the myth of El Dorado, a city made entirely of gold. But for the new adventurers staking a claim in the country’s black gold instead, there is no myth involved, but rather the world’s largest crude oil reserves of 303 billion... Continue Reading →
Oct. 5 (offshore-energy.biz) U.S.-headquartered energy technology giant Baker Hughes has teamed up with PDVSA, Lindsayca, and Fulcrum LNG in a strategic alliance aimed at overhauling Venezuela’s natural gas infrastructure and establishing the nation's very first liquefied natural gas (LNG) export capabilities. The company has signed a new agreement with PDVSA, Lindsayca, and Fulcrum LNG that... Continue Reading →
Sept 30 (Reuters) - A gas pipeline connecting neighbors Venezuela and Colombia that has remained idle in recent years needs to be repaired and reopened as soon as possible, the head of Colombia's gas association Naturgas, Luz Stella Murgas, said on Wednesday. The infrastructure is increasingly seen as essential to help Colombia reduce a natural... Continue Reading →
