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Colombia and Venezuela may cooperate in developing oil and gas fields

1.   Colombian President Pete, Colombia and Venezuela may cooperate in developing oil and gas fields: On November 18th local time, Colombian President Gustavo Petro stated during his visit to Venezuela that EcoPetrol SA may collaborate with Petrolesde Venezuela to develop oil and gas fields. Colombian state-owned oil producers can also import the raw materials needed to produce gasoline from Venezuela.


2.   Russia lifts temporary restrictions on gasoline exports. Today, November 18th, the Russian Ministry of Energy announced on Friday that Russia has lifted restrictions on gasoline exports. The department claims that there is an oversupply in the oil and gas market, while wholesale prices have decreased. The Russian Ministry of Energy stated that if necessary, export bans may be reintroduced, and added that gasoline inventories have increased to approximately 2 million tons


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