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United Kingdom

Marianna Parraga

Mexico to delay clean diesel rule as fuel is scarce: sources, documents

16 Jan 2019

MEXICO CITY Mexico's government, dealing with fuel shortages stemming from a crackdown on theft, is expected to postpone a new rule requiring pumping stations to sell cleaner diesel, according to sources with knowledge of the decision and documents from the regulator.

Mexico expects faster fuel transportation to drain inventories

15 Jan 2019

MEXICO CITY Mexico's freight transport association expects a contingency plan aimed at speeding up gasoline distribution that began over the weekend to help ease bottlenecks at terminals, where fuel inventories have been accumulating in recent weeks.

Explainer - Mexico's fuel woes rooted in chronic theft, troubled refineries

11 Jan 2019

MEXICO CITY President Andres Manuel Lopez Obrador has launched the most sweeping attack against rampant corruption and organised crime of his young administration: aiming to stop a growing fuel theft racket that has grown dramatically in recent years.

Mexican ports see bottlenecks as fuel distribution slows - traders

11 Jan 2019

MEXICO CITY Bottlenecks for offloading imported fuel are forming at some Mexican oil ports following government orders to shut pipelines to limit losses from widespread fuel theft, according to traders and Refinitiv Eikon data.

RPT-Mexican ports see bottlenecks as fuel distribution slows -traders

10 Jan 2019

MEXICO CITY, Jan 10 Bottlenecks for offloading imported fuel are forming at some Mexican oil ports following government orders to shut pipelines to limit losses from widespread fuel theft, according to traders and Refinitiv Eikon data.

Mexican ports see bottlenecks as fuel distribution slows -traders

10 Jan 2019

MEXICO CITY, Jan 10 Bottlenecks for offloading imported fuel are forming at some Mexican oil ports following government orders to shut pipelines to limit losses from widespread fuel theft, according to traders and Refinitiv Eikon data.

Venezuelan crude sales to U.S. drop to lowest in almost 30 years

07 Jan 2019

By Marianna Parraga Jan 7 Venezuelan crude exports to the United States last year fell 15 percent to the lowest annual average in nearly three decades, according to Refinitiv Eikon data, as fast-declining oil output and financial sanctions continued to hit sales. Crude volumes to the United States by state-run PDVSA and its joint ventures dropped to 500,013 barrels per day (bpd), a third less than five years ago and the lowest since 1989, figures from Refinitiv Eikon and the U.S. Energy Information Administration showed. A lack of investment, mismanagement and fleeing workers have driven the OPEC-member's oil production to the lowest in almost seven decades. Under a military-led board of directors, output fell to an average of 1.516 million bpd from January through November last year, a 27-percent fall compared with the 2.072 million bpd for all of 2017, according to numbers officially reported to OPEC. Other estimates are lower. Venezuela is struggling to fulfill crude-supply contracts, including those tied to oil-for-loan pacts with Russian and Chinese firms. The insufficient export revenue has Venezuelans suffering through hyperinflation and lack of basic goods, fueling an exodus projected to reach 3 million people. The United States, Venezuela's largest crude export destination ahead of India and China, has been particularly affected by the shipment drop, especially since sanctions on the country and state-run PDVSA were imposed in 2017 by President Donald Trump. The administration is considering new measures that could begin this month. The largest U.S. receiver of Venezuelan crude last year was PDVSA's refining unit Citgo Petroleum with 175,873 bpd, followed by Valero Energy with 166,099 bpd and Chevron Corp with 83,041 bpd, Eikon data showed. An export increase in December, when sales to the United Stated reached 533,358 bpd due to larger shipments of diluted crude made with imported naphtha, was not enough to avoid a decline in the whole year, according to the data. The following is a table of Venezuelan crude sales to the United States by PDVSA and its joint ventures, according to Refinitiv Eikon data: Period Exports (bpd) Number of cargoes December 533,358 33 November 482,517 30 October 489,282 30 September 601,505 38 August 468,300 30 July 494,406 30 June 563,962 33 May 538,042 32 April 512,182 31 March 454,775 27 February 378,643 21 January 476,548 29 2018 500,013 364 2017 591,422 419 2016 718,365 530 2015 772,877 582 2014 733,000 N.A. 2013 755,000 N.A. (Reporting by Marianna Parraga)

Special Report: Oil output goes AWOL in Venezuela as soldiers run PDVSA

26 Dec 2018

CARACAS Last July 6, Major General Manuel Quevedo joined his wife, a Catholic priest and a gathering of oil workers in prayer in a conference room at the headquarters of Petroleos de Venezuela SA, or PDVSA. | Video

World News

As shutdown lingers, Pelosi pushes Trump to delay State of Union speech

With the partial U.S. government shutdown now in its 26th day, House Speaker Nancy Pelosi on Wednesday urged President Donald Trump to reschedule his State of the Union address - a move that could deny him the opportunity to use the pageantry of the speech to attack Democrats in their own chamber over the impasse.