Venezuela closed 2023 with a slight increase in its oil production, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC). In November, the country produced 801,000 barrels per day (bpd), according to primary sources, and 780,000 bpd, according to secondary sources. This marks an increase of 15,000 and 23,000 barrels […]
Related Posts
Toshiba Pivots to Privatization and Restructuring
Toshiba has taken a significant step by agreeing to a buyout led by Japan Industrial Partners (JIP). This move will result in Toshiba going private, with the consortium acquiring almost 80% of its shares. CEO Taro Shimada celebrated this development: “We’re stepping toward a new future with new shareholders.” This comes after a tumultuous period […]
Storm Isha Brings Windfall for UK and Europe’s Energy Market
Storm Isha, hitting the UK and northern Europe with hurricane-force winds, brought unexpected benefits to the energy market. Despite causing infrastructure damage and power outages, the storm significantly increased wind power generation. This surge in renewable energy led to a drop in natural gas futures, reaching a six-month low. In Germany and France, electricity costs […]
Brazil, Argentina and Guyana: potential energy players of the decade
Brazil, Argentina, and Guyana are emerging as key players in the global energy landscape, writes the Economist in its latest report. In Guyana, offshore oil extraction is transforming the fortunes of the country, with vast reserves of crude oil discovered by ExxonMobil. By 2028, Guyana could become one of the world’s top 20 oil producers. […]