Venezuela Crisis Deepens, Oil Prices Soar

Monday, December 16, 2002
As the politically induced strikes continue to sweep Venezuela, oil prices jumped to a two month high, reflecting the lack of output from the world's fifth largest oil exporter. International benchmark Brent soared 86 cents to $28.07 a barrel by early afternoon in London, its highest level since October 17. U.S. crude futures jumped 64 cents to $29.08. The strikes have been spurred by a serious division among the Venezuelan people, half who are trying to force controversial president Hugo Chavez to resign, and half who staunchly support the embattled leader. Crude oil has risen by 20 percent in the past month because of the Venezuelan stoppage and the threat of a U.S. attack on Iraq. On Sunday, Venezuelan army commandos reportedly took control of an oil tanker and arrested its striking crew. Wire reports indicate that a pair of oil tankers loaded over the weekend, but more than 40 were waiting at anchor off Venezuelan export terminals.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Education/Training

Kongsberg Simulators to Enhance GoM Offshore Training

‘Fideicomiso de Formación y Capacitación para el Personal de la Marina Mercante Nacional’ (FIDENA), on behalf of Mexico’s Secretariat of Communications and Transportation

Thome to Support Singapore Maritime Week

Thome Group is giving its full support to Singapore Maritime Week with several senior executives speaking at key events during the packed programme.   Michael Elwert,

Rotterdam and Singapore Ports' Pact on Research

The Maritime and Port Authority of Singapore (MPA)  and the Port of Rotterdam Authority have signed a Memorandum of Understanding (MOU) to exchange information

Energy

ClassNK Opens R&D Center in Singapore

Classification society ClassNK promoted the activities of its new Global Research and Innovation Center (GRIC) at a press conference held today in Singapore.   Joined

ExxonMobil President Seeks Swift Action on US LNG Exports

The United States is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves

Stena Bulk Charters Out LNG Carrier

Stena Bulk has signed an agreement covering the charter of the LNG carrier Stena Blue Sky for the North West Shelf Project in Australia. The duration of the

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1434 sec (7 req/sec)