The South American nation's state energy company Petroecuador has halted all oil production and exports, declaring force majeure across its exploration, production, transportation, and commerce operations late on June 18 amid escalating protests by the confederation of indigenous nationalities (CONAIE) against the economic policies of the government, including fuel price hikes.
July 07, 2022
The US and its southern neighbors have been engaged in oil-for-diesel cross trades, as was reported in the May-9 Digest.
June 27, 2022
Although the startup of Enbridge's Line 3 expansion in 2021 has allowed Canadian producers to send increased volumes of their output to the US to be traded in tandem with US sour grades, the US Gulf Coast is currently dealing with an excess of sour crude because of the US's 180MM-bbl release from its Strategic Petroleum Reserve (SPR), which has flooded the market with heavy- and medium-sour grades that are very similar to WCS. Reports indicate that crude from the US SPR has filled up storage caverns in Louisiana and Texas.
June 20, 2022
On May 27, the US Treasury Department renewed Chevron Corp. (CVX)'s license to continue operations in Venezuela through the end of Nov.
June 13, 2022
Oil output by the Mexican state energy firm hit a multi-decade low of 1.5MM b/d last month, according to data published by the Mexican National Hydrocarbons Commission (CNH) on May 26, as the company's output suffered from declining output at maturing fields and limited exploration.
June 10, 2022
That is what Alberta Premier Jason Kenney claimed when testifying before a US Senate committee on May 17.
May 31, 2022
Even though the country has the largest extra-heavy oil reserves besides Canada, Venezuela has begun importing Iranian heavy crude to feed its domestic refineries according to state-owned PDVSA documents.
May 23, 2022
Multinational financial-services company Royal Bank of Canada (RBC) has calculated that it will cost $51B to decarbonize the Canadian oilsands while boosting output by 500K b/d by 2030.
May 09, 2022
On April 6, Canadian Environment Minister Steven Guilbeault warned Suncor Energy Inc. in a letter that its proposed 225K b/d expansion to its oilsands..
May 03, 2022
In an April-6 letter to Suncor Energy Inc. Chief Executive Officer Mark Little, Canada's Environment Minister Steven Guilbeault said that, in his opinion, Suncor's plan to expand its oilsands base mine near Fort McMurray in northern Alberta as currently proposed would likely cause
April 25, 2022
