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Venezuela to supply up to 400,000 barrels of heavy crude oil per day to India

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State-run oil company Petróleos de Venezuela, S.A. PDVSA) and India’s Reliance Industries Limited (RIL), last week signed two agreements to boost extra-heavy crude oil production in Venezuela’s Orinoco Oil Belt (FPO) and sell up to 400,000 barrels per day (bpd) to the country. million barrels of crude oil per day.

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Eni report: global oil reserves and oil production up in 2018 due to US

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The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. OPEC registered zero growth as production in the Arab Gulf countries were offset by losses in Iran and Venezuela due to geopolitical issues.

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GECF: more than a quarter of 2050 natural gas supply untapped

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Yet-to-find (YTF) resources will contribute to around 30% of the total production of natural gas worldwide by 2050, according to Yury Sentyurin, the Secretary General of the Gas Exporting Countries Forum (GECF). It will see production rise across all regions of the world, with the exception of Europe, where it will decline by 70% by 2050.

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The 5 Countries That Could Push Oil Prices Up

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Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. The most near-term supply risk comes from Iraq. Iran probably won’t pose a supply risk to the market, at least not this year. by Nick Cunningham for Oilprice.com. bank Citi said.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Venezuela’s Woes.

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IHS CERA meta-analysis finds lifecycle GHG emissions for fuel produced solely from oil sands crude average 11% higher than from average crude refined in the US; high variability

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When the oil sands products refined in the United States are considered—a mixture of oil sands and lower-carbon blending components—the GHG emissions are, on average, 9% higher than the average crude processed in the US. Average values for WTW GHG emissions for oil sands and other crudes, tight boundary. Source: IHS CERA.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

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It brings an additional cause of concern for global energy security at a time of heightened geopolitical risks in some major producer countries, such as Venezuela, the IEA said. There, investment rebounded sharply and output rose, on the back of production costs being reduced by 50% since 2014. In addition, 6.5

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