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Jan 30 (Reuters) - Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana assets helping to boost the No. 1 U.S. oil producer's results. Adjusted earnings for the October to December quarter were $1.71 per share, beating a consensus estimate of $1.68 per... Continue Reading →
Jan 29 (Reuters) - Lawmakers approved in a final vote on Thursday a sweeping reform of Venezuela's main oil law after sweetening a proposal by interim President Delcy Rodriguez to lower taxes, expand the oil ministry's decision power, grant autonomy for private producers and make possible asset transfers and outsourcings. The changes are expected to... Continue Reading →
Jan 29 (Reuters) - Exxon Mobil and Chevron executives may face more questions about their investment opportunities in Venezuela than their actual quarterly earnings when they hold calls with analysts on Friday. The U.S. capture and removal, opens new tab of Venezuelan President Nicolas Maduro earlier this month opened a possible - albeit arduous - path for Big Oil to access... Continue Reading →
Jan 28 (Reuters) - A dozen House Democrats on Wednesday sent a letter to 21 companies who attended a Jan. 9 White House meeting about developing Venezuelan oil resources, warning them that any transaction or investment they make there faces legal and financial risks. The letter, led by Democratic Congressman Sean Casten, said despite any... Continue Reading →
Jan. 28 (Reuters) U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country. Following the U.S.... Continue Reading →
Jan 28 (Reuters) - Shell and BP are seeking U.S. licenses to extract natural gas from fields in Trinidad and Tobago and Venezuela, the Caribbean country's energy minister Roodal Moonilal said on Wednesday. Trinidad is Latin America's largest liquefied natural gas exporter and one of the world's largest exporters of ammonia and methanol, but the Caribbean island... Continue Reading →
Jan 23 (Reuters) - U.S. control of Venezuela's oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country's path out of default. Around a tenth of Venezuela's $150 billion foreign debt pile is estimated to be loans from... Continue Reading →
Jan. 24 (oilprice.com) Venezuela is often described as sitting atop the largest oil reserves on Earth. Officially, the country reports more than 300 billion barrels of proven oil—more than Saudi Arabia. To many readers, that figure implies vast, untapped wealth waiting only for political change to unlock it. But Venezuela did not become the world’s... Continue Reading →
Jan 23 (Reuters) - Chinese leader Xi Jinping assured his Brazilian counterpart on Friday that China would stand by Latin America's biggest economy and the Global South, and called for both nations to maintain the role of the United Nations, state news agency Xinhua said. Xi's comments in a telephone call with President Luiz Inacio... Continue Reading →
Jan 23 (Reuters) - SLB beat Wall Street estimates for fourth-quarter profit on Friday, as the world's top oilfield services provider benefited from the ChampionX acquisition and unveiled plans to return $4 billion to shareholders this year. The company closed the $7.75 billion all-stock acquisition of ChampionX last July, adding production chemicals and artificial lift technologies... Continue Reading →
Brazil Energy Insight 