Guaido rubbing elbows in surprise foreign trip

  • Spanish Market: Crude oil
  • 20/01/20

The US government is hoping a high-profile international tour by Venezuelan opposition leader Juan Guaido will re-inject momentum into its protracted campaign to unseat President Nicolas Maduro.

Guaido turned up in Colombia today in the initial leg of his first journey outside Venezuela since an ill-fated February 2019 effort to bring in mostly US-supplied humanitarian aid from the Colombian border city of Cucuta and a fleeting regional tour. The details of his surreptitious departure from Venezuelan soil this weekend have not been disclosed.

The trip comes two days after the US government quietly re-extended a sanctions waiver for Chevron and four US oil services companies to operate in Venezuela, where oil production and exports have recently stabilized despite US sanctions.

Guaido will participate in a regional counter-terrorism conference in Bogota tomorrow, followed by expected EU and US visits, including a possible appearance at the World Economic Forum in Switzerland this week.

Colombian president Ivan Duque said he and senior cabinet members held a "very productive working meeting" with Guaido tonight to discuss the needs of Venezuelan migrants and "the importance of reestablishing democracy in the neighboring country." Guaido, who was greeted at Colombia's presidential palace as a head of state, said on Twitter that he appreciated Duque's "support for the Venezuelan people's struggle" and promised that his return to Venezuela "will be full of good news."

Colombia is among more than 50 nations that recognize Guaido as the Opec country's interim president, in place of Maduro, who claimed victory in a May 2018 election that was widely denounced abroad as fraudulent. But Maduro remains firmly in power, defying US oil and financial sanctions and lately tackling hyperinflation and shortages of basic goods with de facto dollarization and transfer of oil operations to foreign partners.

At tomorrow's summit, Guaido will meet US secretary of state Mike Pompeo, and rub elbows with foreign ministers and deputy foreign ministers from Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Panama, Paraguay, Peru, St Lucia, Uruguay and the US. Spain, Israel and Guaido's US-backed interim administration will attend as observers, according to Colombia's foreign ministry.

Not all of the governments represented at the meeting recognize Guaido. Mexico, Uruguay and more recently Argentina have sought to establish a middle ground in the conflict.

Still, the optics of the summit are meant to showcase Guaido as a statesman committed to fighting terrorism, which Maduro is accused of abetting by harboring Colombian guerrilla group ELN and dissidents from the former Farc insurgency that signed a peace deal with the Colombian government in 2016. Both groups and others — all tied to illicit drugs trafficking — routinely carry out attacks inside Colombia, including strikes on social leaders and infrastructure such as oil pipelines.

The summit also will address Venezuela's alleged support for Iranian-backed Hezbollah in an offshoot of the White House's controversial offensive against Tehran. While evidence of Colombian rebels' presence in Venezuela has been repeatedly rolled out by the Duque administration, concrete proof of Hezbollah activity in Venezuela has not been publicly disclosed.

Fraught return

Guaido's surprise trip is another gamble for his movement, one year from his vaunted 23 January 2019 declaration of an interim presidency. Maduro has not commented on his rival's absence. With the backing of Russia, he could try to exploit Guaido's trip by making another push to install a pliable National Assembly leadership to undermine Guaido's constitutional claim to the interim presidency. Maduro could also seek to bar Guaido from returning to Venezuela based on his defiance of a longstanding government order aimed at preventing him from leaving. Guaido also could be arrested upon re-entering his country.

In comments to reporters today, Pompeo described Maduro's removal as an "enormous challenge" and vowed to "help the opposition continue to congeal, continue to build forces" with the goal of free and fair elections.

By Patricia Garip


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17/05/24

Houston refiners weather hurricane-force winds: Update

Houston refiners weather hurricane-force winds: Update

Adds Calcasieu comment, update on flaring reporting Houston, 17 May (Argus) — Over 2mn b/d of US refining capacity faced destructive winds Thursday evening as a major storm blew through Houston, Texas, but the damage reported so far has been minimal. Wind speeds of up to 78 mph were recorded in northeast Houston and the Houston Ship Channel — home to five refineries with a combined 1.5mn b/d of capacity — faced winds up to 74 mph, according to the National Weather Service . Further South in Galveston Bay, where Valero and Marathon Petroleum refineries total 818,000 b/d of capacity, max wind speeds of 51 mph were recorded. Chevron's 112,000 b/d Pasadena refinery on the Ship Channel just east of downtown Houston sustained minor damage during the storm and continues to supply customers, the company said. ExxonMobil's 564,000 b/d Baytown refinery on the Ship Channel and 369,000 b/d Beaumont, Texas, refinery further east faced no significant impact from the storm and the company continues to supply customers, a spokesperson told Argus . Neither Phillips 66's 265,000 b/d Sweeny refinery southwest of Houston nor its 264,000 b/d Lake Charles refinery 140 miles east in Louisiana were affected by the storm, a spokesperson said. There was no damage at Motiva's 626,000 b/d Port Arthur, Texas, refinery according to the company. Calcasieu's 136,000 b/d refinery in Lake Charles, Louisiana, was unaffected by the storm and operations are normal, the refiner said. Marathon Petroleum declined to comment on operations at its 593,000 b/d Galveston Bay refinery. Valero, LyondellBasell, Pemex, Total and Citgo did not immediately respond to requests for comment on operations at their refineries in the Houston area, Port Arthur and Lake Charles. A roughly eight-mile portion of the Houston Ship Channel from the Sidney Sherman Bridge to Greens Bayou closed from 9pm ET 16 May to 1am ET today when two ships brokeaway from their moorings, and officials looked in a potential fuel oil spill, according to the US Coast Guard. The portion that closed provides access to Valero's 215,000 b/d Houston refinery, LyondellBasell's 264,000 b/d Houston refinery and Chevron's Pasadena refinery. Emissions filings with the Texas Commission on Environmental Quality (TCEQ) are yet to indicate the extent of any flaring and disruption to operations in the Houston area Thursday evening, but will likely be reported later Friday and over the weekend. Gulf coast refiners ran their plants at average utilization rates of 93pc in the week ended 10 May, according to the Energy Information Administration (EIA), up by two percentage points from the prior week as the industry heads into the late-May Memorial Day weekend and beginning of peak summer driving season. The next EIA data release on 22 May will likely reveal any dip in Gulf coast refinery throughputs resulting from the storm. By Nathan Risser Houston area refineries Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Houston area refiners weather hurricane-force winds


17/05/24
17/05/24

Houston area refiners weather hurricane-force winds

Houston, 17 May (Argus) — Over 2mn b/d of US refining capacity faced destructive winds Thursday evening as a major storm blew through Houston, Texas, but the damage reported so far has been minimal. Wind speeds of up to 78 Mph were recorded in northeast Houston and the Houston Ship Channel — home to five refineries with a combined 1.5mn b/d of capacity — faced winds up to 74 Mph, according to the National Weather Service . Further South in Galveston Bay, where Valero and Marathon Petroleum refineries total 818,000 b/d of capacity, max wind speeds of 51 Mph were recorded. Chevron's 112,000 b/d Pasadena refinery on the Ship Channel just east of downtown Houston sustained minor damage during the storm and continues to supply customers, the company said. ExxonMobil's 564,000 b/d Baytown refinery on the Ship Channel and 369,000 b/d Beaumont, Texas, refinery further east faced no significant impact from the storm and the company continues to supply customers, a spokesperson told Argus . Neither Phillips 66's 265,000 b/d Sweeny refinery southwest of Houston nor its 264,000 b/d Lake Charles refinery 140 miles east in Louisiana were affected by the storm, a spokesperson said. There was no damage at Motiva's 626,000 b/d Port Arthur, Texas, refinery according to the company. Marathon Petroleum declined to comment on operations at its 593,000 b/d Galveston Bay refinery. Valero, LyondellBasell, Pemex, Total, Calcasieu and Citgo did not immediately respond to requests for comment on operations at their refineries in the Houston area, Port Arthur and Lake Charles. A roughly eight-mile portion of the Houston Ship Channel from the Sidney Sherman Bridge to Greens Bayou closed from 9pm ET 16 May to 1am ET today when two ships brokeaway from their moorings, and officials looked in a potential fuel oil spill, according to the US Coast Guard. The portion that closed provides access to Valero's 215,000 b/d Houston refinery, LyondellBasell's 264,000 b/d Houston refinery and Chevron's Pasadena refinery. By Nathan Risser Houston area refineries Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Texas barge collision shuts GIWW section: Correction


16/05/24
16/05/24

Texas barge collision shuts GIWW section: Correction

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Dangote seeks 2mn bl/month WTI crude for 12 months


16/05/24
16/05/24

Dangote seeks 2mn bl/month WTI crude for 12 months

London, 16 May (Argus) — Nigeria's 650,000 b/d capacity Dangote refinery has issued a tender for the supply of 2mn bl of US WTI crude each month, for 12 months starting in July, according to a tender document seen by Argus . Dangote will accept offers on a delivered cif basis to Lekki, Nigeria, and on a fob basis from Houston and Corpus Christi, Tx. It was not stated whether the fob offers would be against WTI or Brent. The tender closes on 21 May. Dangote came online at the end of 2023 and its throughout capacity is planned to reach around 350,000 b/d a its first phase of operations. The refinery received its first crude cargo on 6 December and since then deliveries have averaged 179,000 b/d, according to data from Vortexa. Light sweet WTI accounted for 42,000 b/d, or 23pc of the total. By Lina Bulyk and Kuganiga Kuganeswaran Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Eni cuts scope 1, 2 upstream emissions by 40pc in 2023


15/05/24
15/05/24

Eni cuts scope 1, 2 upstream emissions by 40pc in 2023

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