Reshuffle in Caracas
New appointments show Maduro plans to hold his course
Venezuela's epic economic distortions and political entanglement have long delayed oil and gas industry investment. Yet over the past two years, oil minister and PdV president Eulogio del Pino have begun to revive enthusiasm in the country's Orinoco Oil Belt, some marginal oilfields and, especially, in Venezuela's offshore natural gas sector. But del Pino and his team have faced an uphill battle coordinating with President Nicolás Maduro's patchwork cabinet. Oil-policy adjustments and commercial negotiations with investors must be accompanied by both macroeconomic and other reforms. Big deals require a big picture government buy-in. To date, with marginal political clout, the oil ministry ha
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5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
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The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
