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IDB will not support major projects without sound EIA – Executive Director

OilNOW -
Inter-American Development Bank (IDB) Executive Director Jerry Butler says the multilateral financial agency will not support any infrastructural project, including those in the oil and gas sector, in the absence of a comprehensive Environmental Impact Assessment (EIA) study. Butler was...
News

Canada sanctions 40 Venezuelans with links to Maduro regime

OilNOW -
Canada has announced sanctions on key figures in the Maduro regime in what the country’s Ministry of Foreign Affairs says is designed to send a clear message to the Venezuelan government that “their anti-democratic behaviour has consequences.” Chrystia Freeland, Minister...
News

US expands travel ban to include Venezuela

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(BBC) The United States has expanded its controversial travel ban to include people from North Korea, Venezuela and Chad. The White House said the restrictions follow a review of information sharing by foreign governments. Donald Trump issued a presidential proclamation late...
Exploration

Total, Chevron enter deepwater pact covering 16 blocks

OilNOW -
Total announced Friday that its subsidiary, TOTAL E&P USA, INC., has entered into an agreement to capture 7 prospects operated by CHEVRON U.S.A. INC. in the deepwater Gulf of Mexico. The agreement covers 16 blocks. The associated prospects are located...
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Exxon Houston facilities back in operation after Harvey disaster

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ExxonMobil said today that its Baytown and Beaumont refineries have begun producing fuels at reduced rates and that crude oil and refined product pipelines in the Gulf and other regions of Texas have restarted as recovery continues from Hurricane Harvey. Offshore production...
News

Belize halts oil purchases from Venezuela’s PDVSA

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Belize Energy Limited (Apbel) will not purchase any oil derived product within Petrocaribe’s framework. The company made this announcement on September 17, after alleging the escalation of issues from PDVSA due to a breach of contract. “We are indeed very...
News

Business summit slated or September 25-26 to focus on transformation of economy

OilNOW -
The Caribbean-Central American Action (CCAA) and the Inter-American Development Bank (IDB) will be hosting a business summit in Guyana in collaboration with a number of stakeholders, slated for September 25 and 26. The event; The Transformational Economy: Perspectives and Opportunities...
News

Global energy consumption to increase by 28% – EIA

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World energy consumption is projected to increase by 28% between 2015 and 2040 according to the US Energy Information Administration. In figures published last week, EIA said coal demand will remain flat, and renewable energy will be the world’s...
News

Tullow says not much opportunity for local content in exploration phase

OilNOW -
Country Representative of Tullow Oil in Guyana, Joachim Vogt, says not much opportunity exist for local content in the exploration phase of offshore operations. Vogt was at the time responding to a question from OilNOW about the likelihood of Guyanese...
News

Crude trades near $50/bbl after decline in U.S. drilling

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(Bloomberg) -- Oil traded near $50/bbl in New York, close to a three-month high, as a further reduction in U.S. drilling added to signs the global crude surplus is abating. WTI futures slipped 0.5% after advancing 5.1% last week. Rigs...
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Guyana and Lindsayca/CH4 to arbitrate GtE contract dispute 

The Government of Guyana (GoG) and Lindsayca/CH4 (LNDCH4) in a statement today said it will proceed to arbitration over...

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