Petroleum

Ecopetrol Group presents its first stand-alone report following the task force on climate-related financial disclosures

August 4, 2021

Ecopetrol S.A. reported it has voluntarily adopted the recommendations issued by the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD) as part of its disclosure policies. In this regard, the company has published its first specialized report on the subject, for the year 2020, where the disclosures seek to reinforce its processes and […]

BP may cut oil supply to Caribbean refinery if it stays idle

October 16, 2020

In a Reuters exclusive, the Limetree Bay refinery in St. Croix, Virgin Islands, may lose its main supplier of crude, oil major BP, if it isn’t successfully up and running by December, according to two people familiar with the matter. Source

NuStar completes $250-million sale of Caribbean storage terminal

November 15, 2019

NuStar Energy has finalized the US$250-million sale of its oil storage terminal on Saint Eustatius to Prostar Capital. NuStar President Brad Barron said that proceeds from the sale, which marks the company’s exit from the Caribbean market, would be redeployed to its core businesses in North America. The terminal’s 14-million-barrel storage capacity includes crude oil, […]

Belize: Petroleum extraction continues to decline

December 8, 2015

Former Chief Executive Officer in the Ministry of Energy, Science, Technology and Public Utilities, Dr. Colin Young, reported that oil production in Belize is at an all-time low and will continue to decrease through 2024. According to the Statistical Institute of Belize, revenues from petroleum exports hit a high f $292 million in 2012 but […]