Brazil turned down an offer to join OPEC today, according to the Associated Press. Brazil is staying on the sidelines, saying that it is not a big enough exporter to consider joining the organziation. The country, which could have up to 80 billion barrels of reserves offshore, is keeping clear from the group for the time being. Which I say is fair enough. There's no rule saying that OPEC is the only organization that can represent oil-rich nations. Now, I doubt there will be any rival oil cartels coming into existence, there's just not that many oil producing countries in the world. Yet. Hey, these oil volumes are recent discoveries. Who knows where else there could be fields? Hey, who's to say that Micronesia isn't sitting on the world's largest oil field? We could end up having a another group calling themselves OPEN: Organization of Petroleum Exporting Nations. –Stephen Payne, Editor, Oil and Gas Investor This Week; www.OilandGasInvestor.com; firstname.lastname@example.org
2024-02-21 - President Andres Manuel Lopez Obrador revealed the debt data in a chart from a presentation on Pemex at a government press conference.
2024-01-15 - Hussain is replacing Kevin Brackman as Advent Technologies Holdings Inc.’s CFO, who resigned from the position on Jan. 5.
2024-02-21 - Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.
2024-02-15 - BP wants to boost its LNG portfolio to 25 mtpa by 2025 under a plan dubbed “25-by-25,” upping its portfolio by 9% compared to 2023, CEO Murray Auchincloss said during the company’s webcast with analysts.