Venezuela’s financial troubles impact Texas and U.S. Alex Mills Contributors Oil and Gas News Texas 

Venezuela’s Financial Troubles Impact Texas and U.S.

The political turmoil in Venezuela has huge implications internationally, especially for Texas and the United States. Petroleos de Venezuela (PDVSA), the nationally owned energy company, currently owns three refineries in the U.S. – located in Corpus Christi, Lake Charles, La. and Lemont, Ill. – that refine 749,000 barrels of oil per day under the corporate umbrella of Citgo. PDVSA produces… Read More
Venezuela’s economy, oil production, government in trouble Alex Mills Contributors Oil and Gas News 

Venezuela’s Economy, Oil Production, Government in Trouble

Venezuela’s socialist government has been on a downhill slide for years. This week the U.S. sanctioned state-owned oil and natural gas company Petròleos de Venezuela, S.A. (PdVSA) and its central bank. Oil production, Venezuela’s primary cash producer, has steadily declined during the past 10 years resulting in foreign partners continuing to cut activities in the oil sector. With Venezuela’s heavy… Read More
Industry leaders predict increased activity this year #OilmanNEWS Alex Mills Contributors Oil and Gas News 

Industry Leaders Predict Increased Activity This Year

The oil and gas industry expects to increase drilling, production and capital expenditures during 2019, according to a variety of surveys of leaders of oil and gas companies released recently. The American Oil & Gas Reporter, a national trade magazine, released its January issue this week revealing that respondents said they plan to drill 22.1 percent more wells this year… Read More
US Exporter #OilmanNEWS Alex Mills Contributors Oil and Gas News 

U.S. Becomes Net Exporter of Petroleum

Just a week after OPEC members announced they were cutting oil production and exports, the U.S. Energy Information Administration announced that the U.S. became a net exporter of petroleum in November for the first time. The news signifies that U.S. has become a major player in world crude oil marketplace as production continues to increase surpassing 11 million barrels per… Read More
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