Switzerland

Colombia’s Cano Limon pipeline bombed for 12th time in 2019

Swissinfo | Mar 15, 2019 at 10:55 PM
  • Colombia’s Cano Limon oil pipeline was bombed on Friday in eastern Norte de Santander province, state-run oil company Ecopetrol said, the 12th time it has been attacked this year.
  • There have been more than a dozen attacks on Colombian pipelines so far in 2019, eleven of them on Cano Limon.
  • There were more than 80 attacks on the 485-mile (780-km) pipeline in 2018.

India

Oil Bulls Stick to Their Guns Ahead of Make-or-Break OPEC Summit

Bloomberg Quint | Mar 15, 2019 at 10:31 PM
  • OPEC can make or break oil’s bull run, and hedge funds are betting the cartel will keep fueling the rally.
  • As the producer group prepares for the gathering with allies including Russia, OPEC has signaled commitment to its deal to cut output.
  • WTI’s 50-day moving average is poised to cross above its 100-day moving average– a bullish signal that often invites buyers into the market.

China

Oil prices edge down amid IEA’s oil market report

Xinhua News Agency | Mar 15, 2019 at 9:59 PM
  • Oil prices dipped on Friday, as the International Energy Agency (IEA) said Friday that it expected to see a modest supply surplus in the global oil market in the first quarter of 2019 (1Q19).
  • The IEA also stressed the importance of production cuts of major oil producers.
  • The West Texas Intermediate for April delivery fell 0.09 U.S. dollar to settle at 58.52 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery decreased 0.07 dollar to close at 67.16 dollars a barrel on the London ICE Futures Exchange.

France

Polish reporter tells of being beaten by Venezuela police

France 24 | Mar 15, 2019 at 8:16 PM
  • A Polish journalist in Venezuela was beaten by police in the troubled South American country, he said in accounts published by his newspaper and Venezuela’s press union on Friday.
  • The account added to a long list of allegations of brutality and arbitrary arrest of media workers in Venezuela, mostly targeting Venezuelans not working for state media but also increasingly foreign correspondents.
  • The union published photos of Surdel’s bloodied and bruised face.

Switzerland

Latam lender replaces Venezuela’s Maduro representative with Guaido economist

Swissinfo | Mar 15, 2019 at 7:13 PM
  • The Inter-American Development Bank on Friday voted to replace the representative of Venezuelan President Nicolas Maduro with an economist backed by opposition leader Juan Guaido.
  • The decision makes the IADB, Latin America’s largest regional lender, the first financial institution to recognise Guaido and would eventually free up development lending to Venezuela if Maduro steps down.
  • IMF approval would also allow the World Bank, the world’s largest development institution, to make a decision on Guaido.

United States

Latam lender replaces Venezuela’s Maduro representative with Guaido economist

CNBC | Mar 15, 2019 at 7:12 PM
  • The Inter-American Development Bank on Friday voted to replace the representative of Venezuelan President Nicolas Maduro with an economist backed by opposition leader Juan Guaido.
  • The decision makes the IADB, Latin America’s largest regional lender, the first financial institution to recognize Guaido and would eventually free up development lending to Venezuela if Maduro steps down.
  • IMF approval would also allow the World Bank, the world’s largest development institution, to make a decision on Guaido.

India

Citgo Avoids a Shutdown With U.S. Treasury Deadline Extension

Bloomberg Quint | Mar 15, 2019 at 6:05 PM
  • Under a set of sanctions released at the end of January, Citgo — which at the time was indirectly controlled by the government of embattled president Nicolas Maduro — had an authorization to interact with U.S. companies or persons until July 27.
  • Citgo operates three refineries in the U.S. with combined capacity to process almost 755,000 barrels of oil a day, or about 4 percent of the U.S. fuel-making capacity.
  • It operates more than 40 petroleum terminals in the U.S. and sells fuels to 5,300 Citgo-branded gas stations.

United States

U.S. envoy says Venezuela oil production dropping steadily

Reuters | Mar 15, 2019 at 5:54 PM
  • The U.S. special representative for Venezuela said on Friday that Venezuela’s oil exports have been dropping steadily by roughly 50,000 barrels per month and production is likely to dip below a million barrels a day within a “month or two”.
  • The OPEC member’s oil production has dwindled in the last two decades, from more than 3 million bpd at the beginning of the century to between 1.2 million and 1.4 million bpd by late 2018.