U.S. Vice President Mike Pence rebuked European powers over Iran and Venezuela on Feb. 16 in a renewed attack on Washington's traditional allies, rejecting a call by Germany's chancellor to include Russia in global cooperation efforts.
Draft law would require import pipelines to not be owned directly by suppliers.
The recent Polar Vortex did its damage, but as winter weather goes, say Drillinginfo and Wood Mac, this one is not terribly cold and gas prices are holding steady.
Customers like Poland are able to diversify their supplies of gas, challenging Gazprom’s domination of the European market.
Traders are looking for ways to keep the crude flowing during the sanctions.
The International Energy Agency (IEA) has yet to assess the impact of the latest U.S. sanctions on Venezuelan oil supplies, its executive director said on Jan. 30.
Gains are reined in by fears of a slowing Chinese economy.
Venezuela’s oil exports to the United States remain the primary cash resource for its state-owned oil company, and efforts by the U.S.to cut off that revenue would likely force it to send crude to China, India or other Asian countries.
Upgrades enable loading rates of up to 80,000 bbl/hour.
The nearly 11 MMbbl/d of oil production in 2018 smashed the 1970 record of 9.6 MMbbl/d.
