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Guaido calls for groundswell inspired by Evo exile

  • Spanish Market: Crude oil, Oil products
  • 15/11/19

Venezuela's president Nicolas Maduro ordered the grounding of all commercial and private aviation in anticipation of tomorrow's nationwide protests summoned by the US-backed opposition.​

Opposition leader Juan Guaido, who is recognized as interim president by most Western countries, is seeking to reignite a popular groundswell that has largely petered out since his ebullient public oath on 23 January and a botched military uprising on 30 April.

The popular summons is a big gamble for Guaido, who is hoping to seize on the political momentum sparked by the 10 November resignation of Bolivian president and Maduro ally Evo Morales, now in exile in Mexico. Venezuela, Cuba, Mexico and Argentina say Morales was the victim of a coup, and do not recognize Bolivia's interim president Jeanine Anez. Controversially, one of Anez's first moves was to recognize Guaido.

She has already gained recognition from the US, the UK and, more significantly, Russia. Moscow is one of Maduro's main international patrons, and its abandonment of Morales has unsettled Caracas. The EU has remained cautious on Bolivia so far.

Partly with Russia's help, Maduro has defied the opposition's campaign to unseat him, and overcome US financial and oil sanctions that dashed the White House's expectations for a swift political transition.

Venezuela's oil production is running around 750,000 b/d, less than a quarter of its 1990s level, but state-owned PdV has maneuvered to check further declines and sustained exports, partly by flooding Cuba with unsold cargoes.

It is not clear how many Venezuelans will march tomorrow, but Maduro and his number-two Diosdado Cabello are vowing to crack down. Maduro said yesterday that "no tolerance" would be spared in fending off paramilitary forces that he claimed would be dispatched from Colombia, a US ally. Bogota supports Guaido but regularly denies any intervention in Venezuela. Colombia houses the largest share of Venezuelan migrants that total some 5mn.

Regional oil unions that comprise the federation of Venezuelan Petroleum Workers (FUTPV) have shied away from formal support for Guaido. Many oil workers from PdV likely will protest individually if they are not working their shifts tomorrow, but a massive showing is unlikely, oil union leaders tell Argus.

Public sector health care and education unions have announced they will join Guaido's national protest.

As he has done in the past, Maduro has ordered simultaneous pro-government marches. In recent days he has also talked up a more than one-million-strong civilian militia, and security forces are heavily deployed on Caracas streets today.

Panic fuel buying is evident in Caracas, where supplies were already sharply depleted. Retail distributors association Fenegas ordered all stations to halt sales in small containers on 15-18 November to discourage the fabrication of Molotov cocktails — gasoline-filled glass bottles — that could be used to attack security forces, a senior Fenegas official tells Argus. Stations still can fuel vehicles, but all outlets in Caracas and other cities have been encouraged to close as a precaution.

Eyes on the military

The military response tomorrow will be critical. In contrast to Bolivia, where the military and police had relinquished support for Morales, Venezuela's armed forces have mostly remained on Maduro's side, less out of conviction than economic interest amid severe poverty that the government blames on sanctions.

The Maduro government is considering closing border crossings into Colombia as well as Brazil as tensions rise. Central University students have already started to clash with national guards in anti-riot gear ahead of tomorrow's formal marches, but fear of violent repression could keep many Venezuelans at home. A sparse turnout would bode ill for the opposition movement and Guaido's government in exile that has been preoccupied for months with a foreign debt imbroglio while Maduro carries on at home.

As with past opposition marches, the protest in Caracas will launch from the city's traditionally middle and upper-class eastern districts and end in Chacaito plaza, several miles from the presidential palace.


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15/05/25

Казахстан перераспределил тариф на транзит нефти в Китай

Казахстан перераспределил тариф на транзит нефти в Китай

Riga, 15 May (Argus) — Казахстан с 1 мая перераспределил ставки тарифа на транзит российской нефти в Китай. Суммарная стоимость транспортировки сохранилась в размере $15/т без учета НДС, при этом прокачка сырья по участку Прииртышск (граница России и Казахстана) — Атасу подорожала, а поставка по маршруту Атасу — Алашанькоу подешевела, сообщил 10 апреля казахстанский трубопроводный оператор Казтрансойл (КТО). С 1 мая транспортировка российской нефти по участку Прииртышск — Атасу подорожает до $7,24/т с $4,23/т, а прокачка по маршруту Атасу — Алашанькоу подешевеет до $7,76/т с $10,77/т без учета НДС. Данное направление используется для транзита 10 млн т/год российской нефти в Китай через Казахстан. ________________ Больше ценовой информации и аналитических обзоров рынка транспортировки грузов в странах Каспийского региона и Центральной Азии — в отчете Argus Транспорт Каспия . Вы можете присылать комментарии по адресу или запросить дополнительную информацию feedback@argusmedia.com Copyright © 2025. Группа Argus Media . Все права защищены.

New Zealand approves rules to raise jet fuel storage


15/05/25
15/05/25

New Zealand approves rules to raise jet fuel storage

Sydney, 15 May (Argus) — New Zealand has approved regulations to increase jet fuel storage in or around Auckland Airport before November next year to stop fuel supply disruptions. The regulations approved by New Zealand's government mean that fuel companies have until 1 November 2026 to invest in sufficient fuel storage, allowing them to have 10 days' worth of cover at 80pc operations , a measure introduced in a 2019 inquiry. New Zealand imported an average of around 22,000 b/d of jet fuel in the three months to 12 May, according to trade analytics platform Kpler data. Fuel companies have also agreed to invest in a new storage tank near Auckland Airport, according to New Zealand's associate energy minister Shane Jones. Auckland Airport had a pipeline rupture in 2017 that impacted almost 300 flights and resulted in an inquiry in 2019. The recommendation from the inquiry has not been met by fuel companies, said Jones, leaving New Zealand at risk of fuel supply disruptions. The government also updated the rules regarding fuel companies giving government visibility on the amount of jet fuel they hold near Auckland Airport. Jet fuel importers in Australia must have a baseline stock level of 27 days since July 2024, up from 24 days previously. By Susannah Cornford Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

IEA sees slightly better oil demand outlook


15/05/25
15/05/25

IEA sees slightly better oil demand outlook

London, 15 May (Argus) — The IEA has nudged up its global oil demand growth forecasts for this year and 2026, citing better macroeconomic forecasts and the effects of lower oil prices. In its latest Oil Market Report (OMR), published today, the Paris-based watchdog raised its projected increase in oil consumption by 20,000 b/d to 740,000 b/d in 2025, bringing overall demand to 103.9mn b/d. It increased its oil demand growth forecast for 2026 by 70,000 b/d to 760,000 b/d. In its previous OMR the IEA cut its oil demand forecasts for 2025 by 310,000 b/d after the US' announcement of an array of import levies in April. But the IEA said today the tariff supply shock appeared less severe than initially implied, pointing to subsequent US trade arrangements with the UK and China. US talks with other countries continue. "Subsequent pauses, concessions, exemptions and negotiations are likely to attenuate the levies' permanence and economic impact," the IEA said. But it said policy uncertainty continued to weigh on consumer and business sentiment, and it sees oil consumption growth slowing to 650,000 b/d between now until the end of 2025, from 990,000 b/d in the first quarter of the year. Its demand growth forecast for 2025 is 320,000 b/d lower than at the start of the year. The IEA increased its global oil supply growth forecast by 380,000 b/d to 1.61mn b/d in 2025, with almost all the rise accounted for by the Saudi-led unwinding of Opec+ cuts. It nudged its oil supply growth forecast for 2026 up by 10,000 b/d to 960,000 b/d. Eight Opec+ members earlier this month agreed to continue accelerating the pace of their planned unwinding of 2.2mn b/d of crude production cuts for June. The IEA again revised down its supply growth forecasts for the US, mainly because of the effects of lower oil prices on US shale producers. It downgraded US growth by 50,000 b/d to 440,000 b/d for 2025 and by 100,000 b/d to 180,000 b/d for 2026, and said US tight oil production in 2026 would contract on an annual basis for the first time since 2020. The IEA said sanctions on Russia, Iran and Venezuela are a key uncertainty in its forecasts. It noted that Russian crude supply grew by 170,000 b/d in April as crude prices fell below the G7 $60/bl price cap. The IEA's balances show supply exceeding demand by 730,000 b/d in 2025 and by 930,000 b/d in 2026. It said global observed stocks rose by 25.1mn bl in March, with preliminary data showing a further rise in April. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Shale unable to absorb price decline: Continental


14/05/25
14/05/25

Shale unable to absorb price decline: Continental

New York, 14 May (Argus) — Shale output growth plans are being sidelined for the time being as this year's decline in oil prices curtails investment into the sector, according to the chief executive officer of Continental Resources. "There's nothing that we can use in the industry to absorb a $10/bl drop in price from a technology standpoint," chief executive officer Doug Lawler said at the Super DUG Conference & Expo 2025 in Fort Worth, Texas, today. "There are not capital efficiencies that can be captured that makes up $10/bl." The pullback in capital that is starting to be seen across the industry as a result of the price rout caused by uncertainty around President Donald Trump's tariffs and surging Opec+ supply will continue as the year progresses, Lawler said. Top shale company executives have warned in recent weeks that shale is in for a rough ride given the price drop, which has since stabilized following a US-China trade truce agreed last weekend. US onshore crude production has likely peaked , according to leading independent Diamondback Energy, while Occidental Petroleum chief executive Vicki Hollub warned the peak could come sooner than expected . "I would maybe caveat it just a little bit different, and not call it a peak, necessarily, but I think we're in for a period of a plateau," Lawler said today. Earlier this year, Continental announced a joint venture with Turkey's national oil company and US-based TransAtlantic Petroleum to develop oil and gas resources in southeast and northwest Turkey. "We don't see it necessarily as an international strategy," Lawler said. "We really see it more as a continuation of the history and heritage of the company, of being exploration-focused." It also should not be viewed as the company seeing a lack of domestic opportunities, given 5-10pc of its overall annual capital budget will be directed at exploration over the next few years. Continental, which was founded by shale billionaire and leading Trump donor Harold Hamm in 1967, is the largest leaseholder and producer in the Bakken basin. It also has positions in the Scoop and Stack plays of the Anadarko basin of Oklahoma, and is also active in the Powder River Basin of Wyoming and Permian basin of Texas. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Bolivian president bypasses reelection


14/05/25
14/05/25

Bolivian president bypasses reelection

Montevideo, 14 May (Argus) — Bolivian president Luis Arce will not run for a second five-year term and instead backed a united front to elect another leftist candidate. Arce's decision on Tuesday came on the eve of the filing deadline for the 17 August election. He called on former president Evo Morales to also step aside from the race to improve the chances of another left-wing contender. Morales is fighting a court ruling that he is ineligible to run after already having multiple terms. Arce said the Movement to Socialism (MAS) party should rally behind senate president Andronico Rodriguez, 36. Rodriguez announced his candidacy on 3 May as a third way, but remains closely aligned with Morales. He has led the senate since 2020. Four center-right candidates are expected to compete in the race. The MAS has governed Bolivia for most of the past 20 years. Arce and Morales, allies turned enemies, blame each other for Bolivia's economic turmoil, including its dwindling oil and natural gas production. Inflation through April was 5.5pc, up from 1.3pc in the same period last year. Inflation was 9.9pc last year, the highest since 2008. The World Bank forecasts GDP growth at 1.4pc for the year. The oil and gas sector is at the heart of the crisis. Bolivia has gone from fuel independence to importing 54pc of gasoline and 86pc of diesel, both of which are heavily subsidized. The government forecast $2.9bn on fuel subsidies this year. Crude production was close to 21,000 b/d in 2024, according to the statistics agency. It was approximately 51,000 b/d in 2014. Natural gas output, the cornerstone of Bolivia's economic growth for most of this century, has fallen. Output was approximately 33mn m³/d in 2024, down from a peak of 56mn m³/d in 2006. Proven reserves were at 4.5 trillion cf in 2023, less than half of the 10.7 trillion reported in 2017, according to the state-owned YPFB. YPFB in early May announced a new tender to certify reserves by the end of this year. Bolivia stopped daily piped gas exports to Argentina in September and has a contract to export up to 20mn m³/d to Brazil. Domestic demand for gas is close to 14mn m³/d, stated YPFB. On 1 April Argentina began using Bolivia's pipeline infrastructure to ship natural gas to Brazil. Three companies — Argentina's Pluspetrol and Tecpetrol, and France's TotalEnergies — have so far sent gas to Brazil. By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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