South America

Two sources familiar with the plans on Wednesday said that oil producer Chevron will increase exports of Venezuelan crude from the U.S. up to 300,000 barrels per day (bpd). This is up from 100,000 bpd last December and 230,000 bpd this month. The U.S. firm, which is the principal partner of Venezuelan state-run energy company PDVSA has chartered a dozen oil tankers in order to increase shipments at its projects and drain inventories accumulated since December when a U.S. ban on Venezuelan exports left millions of barrels in tanks and vessels onshore. Four Chevron - PDVSA joint ventures produce between...

Three sources familiar with this preparation revealed on Tuesday that U.S. officials are preparing to issue a license to lift'some sanctions' from Venezuelan energy companies. This is a departure from the previous plan of granting individual exemptions for sanctions to companies wanting to do business there. U.S. officials said that following the capture by the U.S. of Venezuelan president Nicolas Maduro in the first week of this month, Washington would ease the sanctions on Venezuela's energy sector to facilitate a $2 Billion oil supply deal and an ambitious $100 Billion reconstruction plan for the country's petroleum industry. In recent weeks,...

GMS, a leading ship recycling company in Dubai, has told its CEO that it has applied for a U.S. licence to purchase and scrap vessels seized by the U.S. Government linked to Venezuelan oil trading. In recent weeks, the U.S. Coast Guard and military have seized seven vessels that either carried Venezuelan oil in their cargo or had done so previously. The seizure was part of Washington’s campaign to force Venezuelan president Nicolas Maduro from power, which culminated with U.S. forces capture him on January 3. Oil spills are possible while the vessels remain in the water. They are part...

Ship tracking data revealed that the first naphtha shipment for Venezuela, as part of an oil deal reached between Caracas & Washington in this'month', arrived Friday on Venezuelan waters aboard a tanker chartered a trading house Vitol. Caracas, Washington and Venezuela agreed on a $2 billion oil deal this month after the U.S. captured Venezuelan president Nicolas Maduro. The agreement covers up to 50,000,000?barrels Venezuelan oil that is in storage. The agreement gives traders Vitol &?Trafigura first access to Venezuelan oil to resell to refineries worldwide. It also includes a?supply? of heavy naphtha, needed to dilute Venezuela's extra-heavy output. According...

Venezuelan oil exports, under a $2 billion deal, reached 7.8 million barrels of crude on Wednesday. Documents and vessel tracking data from the state-run PDVSA show that shipments increased after the U.S. eased its blockade, but not enough to allow PDVSA fully reverse production cuts. Caracas, Washington and the U.S. agreed on a deal after President Nicolas Maduro was captured by the U.S. in early January. The deal included selling up to 50,000,000 barrels of Venezuelan oil stored in tanks and vessels. The first U.S. licenses for loading and exporting cargoes of Venezuelan crude oil were obtained by trading houses...

Authorities in Chile said that at least 19 people have died as a result of wildfires. The government has carried out mass evacuations, and is battling nearly 20 fires, which are exacerbated by high winds and intense heat. At a Monday morning news conference, Luis Cordero, Minister of Security, said that while the?weather conditions over night helped to control some fires but the largest ones were still active and adverse conditions are expected all day. Cordero stated that the forecast for today was high temperatures, and the primary concern was the possibility of new fires igniting in the entire region....

Four sources familiar with these operations have said that oil companies looking to export Venezuelan crude to America after the ouster of President Nicolas Maduro, are in a hurry to find tankers. They also want to put in place operations to safely transfer crude from vessels to Venezuelan ports. Sources say that trading houses and oil companies such as Vitol, Trafigura and Chevron are competing to get deals with the U.S. Government to export Venezuelan crude oil. This is after President Donald Trump announced that Venezuela was set to deliver up to 50 million barrels sanctioned oil from Venezuela to...

The U.S. State Department approved the sale of equipment and services worth $1.5 billion to Peru to help the country move its main naval base from Callao to a nearby seaport. The Peruvian Government plans to relocate the naval base in Callao on the coast, just a few kilometers west of Lima. This will allow the expansion of Peru's largest commercial port, Callao. It is a rival to the Chinese mega-port Chancay located 80 km north of Lima. The U.S. Defense Security Cooperation Agency issued a statement about the proposal. It said that the "proposed sales will contribute to the...

The removal of Nicolas Maduro from Venezuela could be the start of a larger U.S. effort to realign Latin America in a geoeconomical sense, thus limiting Russia's and China's ability to use the Western Hemisphere as a pressure-point on global commodity markets. Central America may be the next domino in the fall. This region has a lot of shipping lanes, and is close to checkpoints. It's a great place for both licit and illegal commerce. The Panama Canal handles approximately 40% of U.S. containers and 5% of world trade. Other transit routes include the Caribbean Sea and ports on the...

European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought an estimated 130,000 metric tonnes of animal 'feed -corn? in a Tuesday international tender. The bid was for up to 207,000 tons. Two 65,000-ton corn consignments were purchased. They could have come from either the United States, South America or South Africa. They said that a third consignment, which was also requested in the tender and due to arrive on May 20, did not get purchased. The first consignment of corn was purchased at an estimated price of $241.50 per ton, including freight (c&f),...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports increased by almost 40% in December compared to November, reaching about 3,41 million metric tonnes. This was due to higher fuel production, and a'seasonal decline in domestic demand. Sources said that exports of ultra-low sulphur diesel via Primorsk - Russia's largest outlet for diesel shipments - grew 35% on a month-on-month basis to 1.7 millions tons as major suppliers increased output and supplies. Last month, diesel?and gasoline loadings at southern ports Tuapse?and Novorossiysk increased by?almost 60 percent compared to November. This was due to local refineries...

Four tankers, the majority of which were loaded, left Venezuela early in January in "dark mode" - that is, with their transponders turned off despite a "strict" U.S. blockade. According to the state company PDVSA, and the monitoring service TankerTrackers.com, the blockade is now in place. Last month, a flotilla consisting of at least three empty ships and a dozen vessels with cargo left Venezuelan waters. This was in apparent defiance to an embargo that President Donald Trump imposed on Venezuela since mid-December. The U.S. seized the?supertanker M Sophia with a Panamanian flag this week as it returned to the...

A lawyer for the wife of the captain said that the captain was taken from British territorial waters to a U.S. Coast Guard vessel. U.S. Coast Guard and U.S. Military Special Forces, with a judicial seize warrant, captured the Russian flagged Marinera on the Atlantic Ocean near Iceland, after pursuing the vessel for over two weeks, as part of Washington’s efforts to stop Venezuelan oil exports. The tanker was then moved to an area?off of the coasts of Scotland. Aamer Anwar is the lawyer for Natia Dzadzama's husband, Avtandil Kalandadze. COURT ORDER REVOKED Anwar stated that on Monday, the Scottish...

Two sources reported that Russian crude oil cargoes dated February Urals traded in Indian ports at discounts close to the largest since 2022 compared with dated Brent, amid increased pressure from Western sanctions. The two sources claimed that the 'cargoes' of Urals oil to be supplied in February will trade at a discount of $10 per barrel compared to Brent for delivery to Indian ports. This is a rise from the estimated cargoes loaded in the fall months last year by $3-5 per barrel and close to the largest discount ever recorded. The U.S. targeted oil majors Lukoil & Rosneft...

Three executives present at the meeting claim that U.S. Energy Sec. Chris Wright informed oil company executives in Washington on Wednesday "that Venezuela's production can increase 30% from its current?900,000.?barrels a day within the short to medium term." U.S. president Donald Trump has asked U.S. oil executives for $100 billion in order to improve Venezuela's oil industry. This is a major goal of Washington following the capture of Venezuelan leader Nicolas Maduro by U.S. forces earlier this month. Venezuela's oil production has plummeted due to years of underinvestment and sanctions. In the 1970s, Venezuela produced 3.5 million barrels per day...

The U.S. Military said that it had seized an?oil tanker linked to Venezuela on Tuesday in Caribbean. This is the seventh apprehension of this kind since the start of U.S. president Donald Trump's campaign for a month to control Venezuelan oil flows. In a statement, the U.S. Southern Command, which oversees nearly a dozen ships and thousands of soldiers in the Caribbean, stated that it had apprehended Motor Vessel Sagitta without incident. The statement said: "The arrest of another tanker that was operating defying President Trump's quarantine established for?sanctioned ships in the Caribbean shows our determination to ensure that only...

The Canadian oil tycoon, who is the head of one of North America’s fastest growing?oil firms, wants his country to offer its expertise in heavy-oil to the United States to help rebuild Venezuela’s?oil sector. Adam Waterous is one of Canada's most active oil industry dealmakers, and executive chair of Strathcona Resources. His comments show a surprising willingness for him to support Donald Trump, despite the trade war he has with Canada, and the possibility that Venezuelan crude could displace some Canadian petroleum on the U.S. oil market. Canada is the fourth largest oil producer in the world. It is also...

The oil prices continued to rise on Tuesday as heightened concerns about the major Iranian producer and possible supply disruptions overshadowed the?prospects of an increased crude supply coming from Venezuela. Brent futures rose $1.20 or 1.9% to $65.07 per barrel at 1150 GMT. This is the highest Brent has been since mid-November. U.S. West Texas Intermediate Crude climbed $1.23 or 2.1% to $60.73. John Evans of PVM Oil Associates said, "The oil markets are building some price protection to counter geopolitical factors." Evans highlighted the possible exclusion of Iran’s?exports as well as the problems in Venezuela, the talks about the...

The head of the government’s investment promotion agency told an interviewer on Wednesday that Peru may consider'seeking private firms to invest in the state-owned oil company Petroperu, including its $5.6 billion Talara refinery. Luis Del Carpio of Proinversion said that cash-strapped Petroperu will also seek private capital to build a 1,100-kilometer (684-mile) oil pipeline in the north of the nation, known as the Norperuano pipe, which is currently inactive. Petroperu has received government funding for many years, totaling $5.3 billion between 2022-2024. Just before the New Year, a reorganization of assets was approved. Del Carpio stated that an increase in...

Mark Carney, the Prime Minister of Canada, said on Tuesday that Canadian crude oil was low-risk and would remain competitive even if production?in Venezuela rose after President Nicola Maduro's capture by the U.S. U.S. president Donald Trump said that American oil companies were prepared to enter Venezuela and invest billions of dollars to restore production. Venezuelan crude oil is similar in weight to the heavy oil produced in Canada's sands. Some analysts speculate that Canadian products?could be eventually displaced. Carney said that a functioning Venezuelan economic system would increase?oil production and stability in the Western Hemisphere. He said this was...

Major U.S. Airlines canceled hundreds?of flights on Saturday following a military action in Venezuela which resulted in the capture of President Nicolas Maduro. American Airlines, Delta Airlines, Spirit Airlines, and JetBlue Airways all cancelled flights on Saturday in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that it had closed the airspace for U.S. carriers due to "risks to flight safety associated with ongoing military activity." According to the notice, this closure does not apply to non-U.S. carriers and operators. The FAA refused to comment on this further. Sean Duffy, the...

Major U.S. Airlines canceled hundreds flights on Saturday following a military action?in Venezuela which resulted in?President Nicolas Maduro's capture. American Airlines, Delta Airlines, Spirit Airlines and JetBlue Airways cancelled flights on Saturday morning, in accordance with the Federal Aviation Administration's Caribbean airspace closures. In a letter to airmen, the FAA said that the closure was due to "risks to flight safety associated with military activity." The FAA refused to comment on the matter further. Sean Duffy, the U.S. Transportation secretary, said in a post to X that restrictions on airspace will be lifted when "appropriate." Customers impacted by the closure...

The United States imposed sanctions Wednesday on four companies that it claimed were operating in Venezuela’s oil sector, along with associated oil tankers. This comes as the administration of President Donald Trump increases pressure on Venezuelan?President Nicolas Maduro. The sanctions are the latest in Trump's campaign to pressure Maduro. This has also included an increased U.S. presence in the area and more than 20 strikes on vessels suspected of trafficking drugs along the Pacific Ocean or Caribbean Sea. Trump had announced earlier this month that he would block all vessels sanctioned by the United Nations from entering or leaving Venezuelan...

According to sources and the state-run PDVSA, Venezuelan oil company resumed oil cargo deliveries on Wednesday at its terminals after a cyberattack affected their centralized administrative system. Sources close to the operations of PDVSA said that the company, which was dealing with the U.S. blockade on Tuesday against all sanctioned oil tankers attempting to enter or leave Venezuelan waters and approaching, had been able to isolate refineries, oilfields, ports, and other facilities to resume working. According to a source at the state-run oil company, the ransomware was detected days earlier and the antivirus software used to try and fix it...