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Wednesday, August 12, 2026

November 16, 2017

Venezuela chooses Dutch-based firm for Orinoco oil JV

November 16, 2017

From Reuters Venezuela has selected a little-known, Dutch-registered company for a new joint venture at the Junin 10 oil block in its Orinoco Belt region, according to a decree published on Thursday. Stichting Administratiekantoor Inversiones Petroleras Iberoamericanas will have a 40 percent participation in the project, the official government gazette said, without giving any financial details of the deal. Majority

Saudi energy minister: market to remain oversupplied by March 2018

November 16, 2017

From Reuters The world will still have a surplus of oil by end-March next year, Saudi Arabia’s energy minister said on Thursday, signaling a willingness to extend output cuts when OPEC meets at the end of November on whether to extend caps well into 2018. Khalid al-Falih also said he did not want oil prices to rise too fast and

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

Ecuador drops plan to request exemption from OPEC cut

November 16, 2017

From Reuters Ecuador has abandoned for now a plan to ask OPEC for an exemption from its share of the organization’s oil production cut as crude prices are reacting positively to the group’s measures, the country’s oil minister said on Thursday. Ecuador, one of the smallest producers in the Organization of the Petroleum Exporting Countries, said last month that it

Oil & Gas 360 - Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the country’s oi

PDVSA Partial Payment Deemed Trigger for Credit Swaps

November 16, 2017

From Bloomberg A panel of credit derivatives dealers and investors ruled Thursday that PDVSA’s incomplete principal bond payment was a “failure to pay” event that triggers payouts on credit-default swaps. As recently as last month, traders had bought a net $250 million of default protection through the swaps market, according to the International Swaps & Derivatives Association. The panel, which took

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