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Venezuelan oil executive arrested in corruption probe

OilNOW -
(Reuters)Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and US major Chevron, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt. Francisco Velasquez was detained on 13 May and...
Discoveries

Repsol discovers massive oil field in Alaska

OilNOW -
Spanish oil company Repsol SA has discovered a giant oil field in Alaska, a potential find big enough to help stem production declines in the state. Repsol said two wells drilled this winter with Denver-based partner Armstrong Oil & Gas,...
News

Suriname Staatsolie warns against fraudsters offering jobs with company

OilNOW -
Suriname state oil company, Staatsolie, has issued a warning about fraudsters who claim they represent the company and are making false job offers to individuals around the world. These false offers are the basis for a variety of fraudulent activities,...
News

Brazil enacts new bidding rules for production sharing regime

OilNOW -
Brazil's Decree 9.041/2017 entered in force last week, regulating Law 12.351/2010 relating to Petrobras’ preferential rights to act as operator in consortiums for exploration and production in blocks subject to the production sharing regime. In its original wording, Law 12.351/2010...
News

Venezuela coastline reportedly being polluted by Petrotrin oil spill

OilNOW -
Large quantities of the heavy bunker fuel from the ruptured fuel oil storage tank at Trinidad and Tobago's state oil company Petrotrin's Pointe-a-Pierre refinery has become lodged in the mangroves and on the beaches of Guiria, Venezuela. According to a...
News

Venezuela braces for possible U.S. oil sanctions

OilNOW -
(Bloomberg) -- Venezuela would be hit from two directions if the U.S. were ever to impose oil-related sanctions against the South American nation where at least 30 have died in anti-government protests in the past month. American drivers may...
News

T&T MP calls for Petrotrin Board to resign

OilNOW -
“This is the second incident in two weeks which has brought grave danger to residents following last week's oil spill which the nation remains unsure of the total quantity of oil leakage,” - David Lee Pointe-a-Pierre MP David Lee has...
News

Bristow in new contract with Hess for search and rescue operations

OilNOW -
"We are using sophisticated helicopters to deploy multiple types of airborne rescues for the new service, with crews that are highly skilled and trained and ready to respond to any type of medical emergency." Bristow U.S. LLC on Wednesday announced...
News

Oil prices shaping up to have major effect on Russian currency

OilNOW -
The results of a recent Bloomberg survey of FX executives show that the biggest issue facing the Russian ruble in 2017 is the price of oil. Released today (May 3 2017), the results show that 51% of those polled saying...
News

Chinese oil & gas companies come big at OTC

OilNOW -
A number of Chinese companies participated in the 48th Offshore Technology Conference (OTC), which kicked off Monday in Houston. Although the organizer did not give an exact number of Chinese companies attending this conference, it is a fact that more...
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SLB expands presence in Suriname with new office

SLB has strengthened its presence in Suriname with the opening of a new office in Paramaribo, reinforcing its commitment...

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