Chevron shows way ahead as Reliance faces end of Venezuela sourcing September 25, 2020 U.S. sanctions against Venezuelan oil exports will take full effect in November according to press reports. Reliance Industries in India will end its purchases which have included a barter system. Panjiva’s data shows Reliance cut its shipments from Venezuela to just 2.6% of the total in Q2’20... Read more →
Trump’s oil aims may not mean U.S. imports shoot downward April 23, 2020 The most recent collapse in crude oil prices has been driven by an emerging lack of storage for oil in the face of slumping demand. There are several options for limiting U.S. imports and mitigating the impact on U.S. oil drillers. President Donald Trump has called for the Treasury and Energy ... Read more →
Chevron Looks Elsewhere, Valero Waits as Venezuelan Taps Turned Off July 31, 2019 Venezuela’s national oil company, PdVSA, will likely have to sell Citgo – its U.S. oil refining business – after losing a court appeal to Crystallex in relation to prior debts. That may further complicate global oil supply chains with U.S. sanctions on Venezuela joining those on Iranian suppli... Read more →
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