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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Education/Training

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

C-MAR's Modern Approach to DP Training in Brazil

The modern offshore maritime industry heavily relies on different classes of DP vessels, from OSVs to Drillships and Tankers, almost all vessels serving the oil

GEIMS Maritime Training accorded highest grade from DGS

Great Eastern Institute of Maritime Studies (GEIMS) is now the first approved maritime training Institution in India to achieve the 'outstanding (A1)' grade. The

Energy

Baker Hughes Announces Q2 Conference Call

Baker Hughes Incorporated (NYSE: BHI) announced today that it has scheduled a conference call on Thursday, July 17, 2014, to discuss results for the second quarter 2014, ending June 30, 2014.

Explosion Rocks Natural Gas Processing Plant In Wyoming

An explosion on Wednesday rocked a natural gas-processing plant in Wyoming that can churn out about 2 percent of the daily U.S. gas supply, though no injuries were reported.

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1045 sec (10 req/sec)