Thursday, January 9, 2025

Two PDVSA Oil Upgraders to be Halted in Coming Weeks

From Reuters Two of Venezuela’s four crude upgraders are scheduled to undergo previously delayed maintenance in the next few weeks, according to three sources close to the facilities, further reducing state-run PDVSA’s exports of upgraded crude. The upgraders, which convert the extra-heavy oil produced in Venezuela’s Orinoco Belt into exportable grades, have a combined 700,000 barrel-per-day (bpd) capacity. The maintenance

Longshot Oil Riches Draw Wildcatters to the Utah Desert

From Bloomberg On hot days in Utah’s Uinta basin, rocks weep oil. Rivulets of black tar hint at the untapped riches within. Taken in hand, the stone crumbles, as warm and waxy as fresh asphalt. The prospect of unlocking those riches has drawn a motley bunch to this desert outside of Vernal, not far from the Colorado border. The men