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(Reuters) A Venezuelan floating oil facility that had been listing in recent weeks is upright and shows no sign of sinking, but plans to offload crude from the vessel posed some risks, the energy minister of neighboring Trinidad and Tobago said on Thursday. A team of experts from Trinidad inspected the Nabarima facility on Tuesday... Continue Reading →
(Reuters) Venezuelan state oil company Petroleos de Venezuela (PDVSA) plans to offload crude from the Nabarima floating oil facility via ship-to-ship (STS) transfer amid environmental concerns, two people familiar with the matter said on Monday. The Nabarima, part of PDVSA’s Petrosucre joint venture with Italy’s Eni SpA in the Paria Gulf off Venezuela’s eastern coast,... Continue Reading →
Leveraged by the pre-salt, Brazil was the fifth country that most increased oil production between 2011 and 2019, in the world. One of the main highlights of oil geopolitics in the decade of 2010, the expectation is that Brazil's relevance in the global market will increase even more in the coming decades. Valor’s Survey, based... Continue Reading →
CABIMAS, Venezuela — For the first time in a century, there are no rigs searching for oil in Venezuela. Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns. Refineries that once processed oil for export are rusting hulks,... Continue Reading →
An idled oil storage facility off Venezuela's eastern coast is in "satisfactory" condition, an official with state company Petroleos de Venezuela said, after a series of incidents in recent months raised concerns about environmental hazards. About 1.3 million barrels of Corocoro crude have been stuck for over a year aboard the Nabarima FSO (floating storage... Continue Reading →
Venezuelan state oil company PDVSA and Italy's Eni are looking at options to safely offload crude from a floating storage facility on Venezuela's eastern coast that has remained idle for over a year due to U.S. sanctions, according to sources close to the discussions. The companies suspended output at their joint venture Petrosucre shortly after... Continue Reading →
Brazil Energy Insight 