The escalating Venezuela-Guyana dispute could provide an opportunity for the AUKUS alliance to intervene in the region and counter the influence of China, Russia, and Iran.
US Southern Command has conducted joint operations with the Guyana Defense Forces and the U.S. has said it would support Guyana’s sovereignty.
Geopolitical maneuvering by China, Iran, and Russia has fueled tensions in the region, and with a presidential election looming in Venezuela, the stakes are only getting higher
Benchmark Brent averaged around US$80 a barrel this year, after a volatile 2022 in which prices surged above US$100 after Russian supplies were disrupted following the Ukraine war
Eni SpA E and Repsol SA REPYY are engaged in advanced negotiations for new agreements with Venezuela, as the South American nation aims to reclaim its position as a significant global oil producer following the relaxation of U.S. sanctions, per a Bloomberg report.
President Nicolas Maduro announced annexation of Essequibo and mobilized army at the border
Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.
The governments of Venezuela and Trinidad and Tobago have struck a profit-sharing agreement that will allow them to jointly exploit the Dragon gasfield, with Trinidad exporting natural gas from the PDVSA project.
In less than a decade, the economy of what was once South America’s wealthiest country, Venezuela, collapsed. The oil-rich country, which once pumped over three million barrels of petroleum daily, slumped into the worst economic collapse of modern times to occur outside of war.
The United States has renewed a license that will extend the authorization to select oilfield services companies to keep assets in Venezuela. The license does not allow the companies to drill, process, or handle Venezuelan-derived crude oil, Reuters reported on Tuesday.
Venezuela’s state oil company PDVSA has got new management that plans to boost production of crude to 1.17 million barrels daily by the end of the year, Reuters has reported, citing an internal document.
TEHRAN- Iran and Venezuela inked several memorandums of understanding (MOUs) on the expansion of cooperation in the fields of oil, gas, and petrochemicals.