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10.01.26 - 03:18
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Venezuela′s Methane Problem Looms Over Trump′s Oil Revival Plan (ZeroHedge)
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Venezuela's Methane Problem Looms Over Trump's Oil Revival Plan
President Trump's push to revive Venezuela's oil sector is colliding with a major technical obstacle: vast methane leaks from crumbling infrastructure that could scare off large international investors, according to Bloomberg.
Satellite monitoring shows huge plumes of methane rising from abandoned rigs, corroded pipelines and aging facilities across the country. Those emissions signal both lost revenue and deep operational problems — conditions that tend to deter major oil companies. As Clayton Nash of Tegre Corp. put it, “That's one way that you're going to know that you've got facilities that are not operated well.”
Each year Venezuela wastes about 13 billion cubic meters of natural gas through flaring, venting and leaks, roughly $1.4 billion in potential revenue. About a quarter of its total gas output escapes into the atmosphere — the highest rate globally and nearly ten times the world average. The scale of tho...
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10.01.26 - 00:01
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IEA′s Fmr. Oil Head: China Doesn′t Need Venezuelan Oil (Bloomberg)
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Neil Atkinson, visiting fellow at the National Center for Energy Analytics and former IEA oil markets chief, says Venezuela's oil industry has severely deteriorated. He tells Katie Greifeld and Romaine Bostick on “The Close” that China's involvement is driven more by political influence than oil demand. (Source: Bloomberg)...
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09.01.26 - 23:54
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Hartree′s Ed Morse Reacts to Trump Venezuela Oil Exec Meeting (Bloomberg)
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Ed Morse, Hartree Partners senior advisor, says Venezuela's political uncertainty is a major risk for oil markets. He tells Romaine Bostick and Katie Greifeld on “The Close” that its vast oil reserves are also among the world's most costly to produce. (Source: Bloomberg)...
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