Friday, September 12, 2025

Petrobras Cutting Houston Jobs after Forming Gulf Joint Venture

From Houston Chronicle Brazilian state oil company Petrobras will terminate more than 50 Houston jobs next year after selling much of its Gulf of Mexico assets into a new joint venture. Petrobras, which has struggled financially amid a nationwide corruption scandal in Brazil, opted to sell its Gulf assets earlier this year into a JV in which it will only

House GOP Pushes Elimination of Ethanol Mandate

From Houston Chronicle WASHINGTON – House Republicans are pushing to eliminate the federal mandate that ethanol be blended into the nation’s fuel supply, to be replaced by a requirement cars built from 2023 on run only on gasoline with a minimum octane level of 95. In legislation under debate at a hearing Tuesday, the EPA would stop requiring ethanol blending in

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

Venezuela’s Deals to Shield Citgo From Creditors Now in Doubt

From Reuters Venezuela is facing the possible unraveling of a pair of billion-dollar settlements aimed at protecting the cash-strapped country’s U.S.-based Citgo Petroleum Corp from seizure by creditors. A lawyer for Canadian mining company Crystallex International Corp said on Tuesday Venezuela had breached the $1.4 billion November agreement that resolved a long-running fight over an expropriated gold mine. Separately, Venezuela’s

Why OPEC Might Be Headed for Even More Cuts in 2019

From Bloomberg Production cuts agreed by OPEC and its allies are on track to balance global oil markets in the first half of 2019, but more work may be needed after that. If Saudi Arabia, Russia and other countries in the so-called OPEC+ coalition cut production by 1.2 million barrels day as promised for the first six months of next