Repsol

Latin America is emerging as one of the most important sources of supply growth in global oil markets.

In Venezuela, production has climbed to more than 1.2 million barrels a day as companies including Chevron, Eni, Repsol, uh, TotalEnergies, and others have expanded their presence.

At the same time, Brazil has reached record production above 4.6 billion barrels a day of crude, and is generating excitement with new discoveries in the equatorial margin, a frontier region that many geologists believe could hold resources comparable to Guyana.

The timing is particularly significant as geopolitical tensions continue to raise concerns about crude flows from the Middle East and the security of key shipping routes.

You know, Talos is a company.

They're expanding, you know? I mean, they picked up, uh, Repsol's, um, Polloc and Chinwa, uh, discoveries in, uh, in Mexico.

You know, they picked up Honduras, you know? And so who, uh, who knows, you know? And good Lord, Lord knows where they're gonna pop up next.

And so maybe that's something, because I think under their current leaderships, they're really trying to do, um, a bit of a, a rebranding, you know?

[chuckles] In fact, Brazil is very famous for doing this.

Argentina had, like, the whole thing with Repsol, which, like, they spun off YPF because they effectively took it away.

It's just a very juicy asset, 'cause once it's set up, it's just cash flowing.

The issue is setting it up.

So, yeah, I would say, normally I'd say a secret bonus upgrade would be...

Is that a Repsol motorbike going to drive under me? No.

Would be a positive, but... considering things didn't go that well.

Madring, I think, actually, Alonso could have been in Q2 there, so I don't think Madring was perhaps as bad as it looked, because he could have been in Q2 and then he got clattered early on by Carlos Sainz, so I don't think that was a great measure, but of course he didn't have it there.

So, good on that for Naveb.

According to Peter, Naveb is just Petro Zamora, And Petro Zamora, let me explain yet again, Peter, how the Venezuelan oil industry works or how it used to work until recently, is that companies from abroad have to come, Chevron, Repsol, whatever.

They have to create a joint venture with PDVSA, the state-owned oil company, and that creates a joint venture and they produce a particular fuel or whatever.

Petro Zamora is not a company.

Yep.

The other one that they're speculating is Repsol.

Oh, yeah?

'Cause they've been out, haven't they?

But yeah, apparently there's gonna be a new full-time sponsor of Ducati.

Yep.

I do like the Repsol idea.

That's awesome.