Bloomberg New leadership at Petroleos de Venezuela SA is considering a major overhaul that could see the company streamlining its oil business and even forsaking decades of state monopoly, according to people familiar with the matter. The proposal, outlined in a document seen by Bloomberg and dated March 2020, was devised by newly appointed PDVSA head Asdrubal Chavez, who is …

Bloomberg South Africa said it will proceed with a court case to invalidate the sale in 2015 of its strategic oil stocks, despite crude prices recently dropping below what traders paid at the time. The $280 million deal for 10 million barrels of South Africa’s reserves, criticised as a rip off when oil prices were in a slump, was sold …

Bloomberg Four years after devastating wildfires burned down sections of Fort McMurray, the city in the heart of Canada’s oil sands is now grappling with two new emergencies at the same time: the coronavirus pandemic and flooding. Just as people were sheltering at home to avoid the virus, a 25-kilometre (16-mile) natural dam created by melting ice on the Athabasca …