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Guaido, Maduro double down after talks fail

  • : Crude oil, Oil products
  • 19/09/17

Both sides in Venezuela's protracted political conflict are doubling down after abandoning Norwegian-sponsored negotiations aimed at finding a peaceful resolution to the standoff.

The opposition-controlled National Assembly today ratified Juan Guaido as president of the legislature and acting Venezuelan president until President Nicolas Maduro resigns or the legislature's five-year constitutional mandate ends on 5 January 2020.

The action was meant to blunt Maduro's launch yesterday of a dialogue with four small political parties that are outside the mainstream opposition coalition (MUD) headed by Guaido. The parties collectively hold just eight assembly seats out of a nominal 167.

Three lawmakers who belong to MUD parties, including Guaido's Voluntad Popular (VP) party, Accion Democratic (AD) and Primero Justicia (PJ), tell Argus that today's vote was meant to demonstrate continued confidence in Guaido after a string of political setbacks, including last week's photos of the young opposition leader alongside Colombian gangsters.

Today's vote was also intended to show a united front in the face of Maduro's efforts to divide his opponents through a "false dialogue" with marginal parties that are perceived as political "sell-outs".

"The individuals without followers who yesterday sold out to Maduro are not MUD members, and do not speak for Guaido, the elected assembly, the opposition and the people of Venezuela," an AD official said.

The four political figures participating in Maduro's new dialogue, including Timoteo Zambrano, Luis Augusto Romero, Felipe Mujica and Claudio Fermin, backed the candidacy of Henri Falcon in May 2018 presidential elections that were boycotted by the main opposition and almost 90pc of the electorate, and were rejected as fraudulent by most western governments that now recognize Guaido as Venezuela's interim president, rather than Maduro who was nominally re-elected for another six-year term.

Zambrano, a former senior member of the opposition Un Nuevo Tiempo (UNT) party who now leads the Cambiemos Movimiento Ciudadano (CMC) party, holds six seats in the assembly, and Romero is secretary general of Falcon's Avanzada Progresista (AP) party, which holds two seats in the assembly.

Mujica's Movimiento al Socialismo (MAS) party, founded in 1971 following a schism within the traditional AD party, has no assembly seats. The fourth politician, three-time losing presidential candidate Fermin, was expelled from AD in 2005 and now heads the marginal Soluciones Para Venezuela (SPS) party.

Maduro said yesterday that he also hopes to revive the Oslo-brokered Barbados talks that he called off on 8 August, three days after the US government escalated sanctions against state-owned oil company PdV and the government.

But Guaido confirmed overnight that the Barbados negotiations are dead because Maduro rejected opposition proposals first made last May in Norway that would see Guaido relinquish the acting presidency if Maduro were to resign and new elections held within nine months.

Guaido and his associates dismissed the new dialogue as phony because there are no legitimate opposition representatives at the table.

The US State Department today blamed the "refusal of the regime to negotiate in good faith" for the collapse of the Norway-sponsored talks. "Once again, the regime sees negotiations as a delaying tactic and has subverted good-faith efforts to find a peaceful political solution."

The EU, which has taken a softer line than Washington since Guaido declared his interim presidency in January 2019, said "any negotiated process [must have] the necessary political representativeness, the backing of the National Assembly, as well as the clear political objective of bringing the country to credible presidential elections."

"The EU reiterates its support to an inclusive, serious and results oriented process such as the one undertaken by Norway."

Maduro's new dialogue in any case already appears to be crumbling.

Falcon, who is close to Venezuelan economist Francisco Rodriguez, architect of a Venezuelan oil-for-food proposal, did not turn up at yesterday's ceremony to celebrate the "dialogue" and Maduro subsequently denounced him in televised remarks.

Falcon is promoting what he describes as a practical solutions to Venezuela's crisis and is vowing to fight Maduro's "nefarious government".

Julio Cesar Reyes, one of AP's two deputies, said the new talks are a "desperate action that seeks to undermine our unity and bestow legitimacy on those who have none."

The political maneuvering coincides with a sharp drop in Venezuelan oil production and exports, reflecting the impact of US financial and oil sanctions. The US expanded the sanctions regime today to include more targeted officials and entities associated with Maduro's attorney general Tarek William Saab.


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24/07/23

US House passes waterways bill

US House passes waterways bill

Houston, 23 July (Argus) — The US House of Representatives overwhelmingly approved a bill on Monday authorizing the US Army Corps of Engineers (Corps) to tackle a dozen port, inland waterway and other water infrastructure projects. The Republican-led House voted 359-13 to pass the Waterways Resources Development Act (WRDA), which authorizes the Corps to proceed with plans to upgrade the Seagirt Loop Channel near Baltimore Harbor in Maryland. The bill also will enable the Corps to move forward with 160 feasibility studies, including a $314mn resiliency study of the Gulf Intracoastal Waterway, which connects ports along the Gulf of Mexico from St Marks, Florida, to Brownsville, Texas. Water project authorization bills typically are passed every two years and generally garner strong bipartisan support because they affect numerous congressional districts. The Senate Environment and Public Works Committee unanimously passed its own version of the bill on 22 May. That bill does not include an adjustment to the cost-sharing structure for lock and dam construction and other rehabilitation projects. The Senate's version is expected to reach the floor before 2 August, before lawmakers break for their August recess. The Senate is not scheduled to reconvene until 9 September. If the Senate does not pass an identical version of the bill, lawmakers will have to meet in a conference committee to work out the differences. WRDA is "our legislative commitment to investing in and protecting our communities from flooding and droughts, restoring our environment and ecosystems and keeping our nation's competitiveness by supporting out ports and harbors", representative Grace Napolitano (D-California) said. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US House to vote on waterways bill


24/07/22
24/07/22

US House to vote on waterways bill

Houston, 22 July (Argus) — The US House of Representatives is expected to vote on 22 July on a waterways bill that would authorize new infrastructure projects across ports and rivers. The Water Resources Development Act (WRDA) is renewed typically every two years to authorize projects for the US Army Corps of Engineers (Corps). The bipartisan bill is sponsored by representative Rick Larsen (D-Washington) and committee chairman Sam Graves (R-Missouri). The full committee markup occurred 26 June, where amendments were added, and the bill was passed to the full House . A conference committee will need to be called to resolve the different versions of the bill. The major difference between the bills is that the House bill does not include an adjustment to the cost-sharing structure for the lock and dam construction and other rehabilitation projects. The Senate Committee on Environment Public Works passed its own version of the bill on 22 May, with all members in favor of the bill. The House version of the bill approves modifications to the Seagirt Loop Channel near the Baltimore Harbor in Maryland, along with 11 other projects and 160 feasibility studies. One of these studies is a $314.25mn resiliency study of the Gulf Intracoastal Waterway, which connects ports along the Gulf of Mexico from St Marks, Florida, to Brownsville, Texas. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Esso bleibt Verkauf von Miro-Anteilen untersagt


24/07/22
24/07/22

Esso bleibt Verkauf von Miro-Anteilen untersagt

Hamburg, 22 July (Argus) — Der Verkauf von Essos Anteilen an der Miro in Karlsruhe bedarf der Zustimmung von Anteilseigner Shell, so das Oberlandesgericht Karlsruhe am Montag. Dem Antrag von Shell wurde somit in letzter Instanz zugestimmt, wodurch die Übernahme von Essos Anteilen durch Alcmene aktuell nicht zustande kommt. Mit dem Rechtsspruch bestätigte das Oberlandesgericht (OLG) die Entscheidung des Landgericht Karlsruhe. Dort hatte Shell Deutschland im Januar eine einstweilige Verfügung gegen Esso Deutschland und ExxonMobil Central European Holding erwirkt, mit der die Übertragung von Anteilen an der Miro (310.000 bl/Tag) auf eine andere Gesellschaft ohne Zustimmung von Shell untersagt wurde. Für eine Übertragung von Geschäftsanteilen an der Miro benötige Esso die Zustimmung von sämtlichen Anteilseignern, so das OLG. Im Oktober 2023 hatte Esso den Verkauf ihres 25 %-igen Anteils an das österreichische Unternehmen und Liwathon-Tochter Alcmene bekanntgegeben. Eine Zustimmung bei Shell hatte sich Esso für diesen Verkauf allerdings nicht eingeholt, sodass diese Verkaufsabsicht nicht rechtmäßig war. Sowohl Shell als auch Esso und ExxonMobil legten gegen die Entscheidung im Januar Berufung ein . Letztere strebten eine vollständige Abweisung der einstweiligen Verfügung an. Shell hingegen reichte Berufung an, da ihrem Antrag auf einstweilige Verfügung nicht in allen Punkten stattgegeben wurde. Die Berufungen wurden abgelehnt. Weitere Eilanträge von Shell, die unter anderem zum Ziel hatten "jegliche Erklärung oder Handlung zu untersagen, die wirtschaftlich einer Übertragung von MiRO-Anteilen gleichkomme" wurden außerdem abgewiesen, so das OLG Karlsruhe. Das Urteil ist nun rechtskräftig und eine weitere Instanz steht nicht zur Verfügung. Shell sowie Esso kommentierten das Urteil bisher auf Anfrage von Argus nicht. Von Svea Winter Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2024. Argus Media group . Alle Rechte vorbehalten.

Dangote refinery's diesel quality proves divisive


24/07/22
24/07/22

Dangote refinery's diesel quality proves divisive

London, 22 July (Argus) — Nigerian conglomerate Dangote Group has defended the quality of diesel output from its 650,000 b/d refinery near Lagos after the country's downstream regulator said it contained much higher levels of sulphur than imported product. Dangote said the sulphur content of its diesel is now as low as 88ppm, citing laboratory tests on a sample from the refinery's mild hydrocracking unit. The company issued the statement in response to claims from the head of the downstream regulator NMDPRA, Farouk Ahmed, that diesel from Dangote and some of Nigeria's small modular refineries lies between 650ppm and 1,200ppm. Dangote said it aims to achieve 10ppm diesel production this week, in line with Euro V specifications and lower than the 50ppm cap on west African imports, adding that the NMDPRA allows domestic refiners to produce up to 650ppm diesel until January next year. Since receiving its first crude feedstock cargo late last year, the refinery has exported low-sulphur straight run fuel oil, naphtha, gasoil and jet fuel via its offshore single point moorings, according to vessel trackers Vortexa and Kpler. The refinery also hosts its own truck-out gantries to load product for overland delivery. Farouk said the NMDPRA has not complied with a request from Dangote to suspend imports of middle distillates due to concerns around security of supply and market monopoly. Dangote has pushed back against the monopoly concerns, saying there are multiple players in the industry, including state-owned NNPC. Nigerian imports of diesel, jet fuel/kerosine, naphtha and fuel oil have declined since the Dangote refinery came online, falling to 8,600 t/d so far this year from 10,900 t/d across the whole of 2023, according to Vortexa data. Nigeria's gasoline imports have declined too, but at a slower pace — to 27,500 t/d from 30,200 t/d over the same period — reflecting the fact Dangote's gasoline production units have yet to start up. By George Maher-Bonnett and Adebiyi Olusolape Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

German diesel prices drop with demand low


24/07/22
24/07/22

German diesel prices drop with demand low

Hamburg, 22 July (Argus) — German middle distillate prices fell in the week to 19 July, as declining Ice gasoil futures coupled with low domestic demand. The extent of the price drop varied significantly across regions. Traders in areas with the lowest prices made only minor downward adjustments, while prices fell most sharply in those regions that were relatively expensive. This is because of varying supply and demand situations. At the Miro consortium's 310,000 b/d Karlsruhe refinery, oversupply of diesel has been decreasing steadily in recent weeks. The build up has led to a significant price drop at the end of June, but suppliers no longer seem compelled to significantly lower their prices to attract buyers. In southern Germany at Shell's 334,000 b/d Rhineland refinery, spot supply of diesel is being rationed. Scheduled maintenance work at the Bayernoil consortium's 215,000 b/d Neustadt-Vohburg refinery and a resulting shortage of spot offers are cushioning the price drop. Around the Rhineland refinery the price decrease was relatively small, as a previously defective plant for diesel production in the 147,000 b/d Wesseling part of the plant was only ramped up at the beginning of the past week. Spot offers will be limited until stocks are refilled, traders said. The largest price drop was in northern Germany, again primarily a result of diesel oversupply. Imports of diesel into northern Germany in July are at their lowest since February, as domestic supply is sufficient to meet regional demand. An importer said demand is so low that contract volumes imported by cargo are barely being sold. Another importer has reduced its barge term volumes in view of weak diesel demand. Importers are worried that the situation will not change fundamentally until at least autumn, when maintenance work begins at TotalEnergies' 236,000 b/d Leuna refinery and at the 187,000 b/d Godorf section of the Rhineland complex. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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