Amos Global Inks SPA to Buy Sinopec''s Gulf of Paria (PetroParia
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 16.Feb.2025) — Houston-based Amos Global Energy Management LLC (AGE) entered into a Sale and
"History shows that forced regime change rarely stabilises oil supply quickly, with Libya and Iraq offering clear and sobering precedents," said Jorge Leon, head of geopolitical analysis at Rystad Energy. Trump told Fox News on Saturday the United States would be very strongly involved in Venezuela's oil sector.
Venezuelan oil is especially attractive to U.S. refiners because it is heavier than what is available domestically. And it takes relatively little time to ship the oil to the Gulf Coast, where facilities are configured to process a mixture of cheaper, heavier oil and more expensive light oil.
Venezuela pumped almost 5 percent of the world's oil in 1997, but years of mismanagement, underinvestment and U.S. sanctions have squeezed output. The difficulty of extracting the country's tar-like oil has also complicated matters. Source: U.S. Energy Information Administration.
It is not clear if the government hit that target. In 2019, the U.S. Geological Survey estimated that Venezuela produced 100,000 metric tons of coal from 731 million metric tons of reserves. Much of the country's production of minerals, including nickel, bauxite, iron ore, and gold, has fallen alongside oil in the past decade.
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