TotalEnergies Eyes New South America, Africa Cash Flow Potential
TotalEnergies SE CEO Patrick Pouyanné believes recent exploration successes in South America and Africa hold potential to boost the French company’s production and cash flow.
Chevron-Hess Deal Creates American “Dream Team” Offshore Guyana, Surprises Analysts
Chevron’s $53 billion all-stock deal for Hess Corp. will see the California oil giant team up with its Texas counterpart Exxon Mobil to create an American “dream team” in Guyana’s offshore Stabroek Block where production has been rising exponentially each year.
Pitts: Venezuela: Geopolitics, Sanctions, Elections and Citgo
Geopolitical events in the Middle East and fears of escalation may stand to benefit Venezuela both indirectly from a run-up in oil prices and directly through further easing of U.S. sanctions.
Energy Transition in Motion (Week of Oct. 20, 2023)
Here is a look at some of this week’s renewable energy news, including $1.8 billion in financing raised by a Texas company for standalone energy storage.
US Eases Oil Sanctions on Venezuela for Six Months
The U.S. Office of Foreign Assets Control (OFAC) issued a license that authorizes some transactions by Venezuela’s oil and gas industry for a limited time, but a meaningful production ramp up would require massive investments over multiple years, analysts say.
US Treasury OKs Trinidad to Pay Cash for Venezuelan Gas
The U.S. Treasury’s Office of Foreign Assets Control amended a license for Trinidad and Tobago to allow the country pay Venezuelan, which is under U.S. sanctions, for natural gas using U.S. dollars and other currencies.
Venezuela, Opposition Will Restart Talks, US Could Ease Sanctions
Sources say the U.S. has reached a preliminary deal to ease sanctions if Venezuelan President Nicolas Maduro follows through on commitments related to a 2024 election.
Trinidad, Tobago Launches Shallow Water Bid Round
Trinidad and Tobago has 13 blocks on offer, with bids due in April 2024.
ConocoPhillips and Others Eye Citgo Auction [WATCH]
Venezuela’s U.S.-based refining arm Citgo Petroleum is a step closer to reaching a theatrical climax as a court ordered sale date quickly approaches.
What's Affecting Oil Prices This Week? (Oct. 02, 2023)
For the upcoming week, Stratas Advisors predicts oil prices will have a downward bias, in part because of concerns about economic growth and oil demand.