Wednesday, January 19, 2022

Regional

Tullow walks away from Suriname, holds onto Guyana with 200-million-barrel campaign planned next year

UK-based multinational oil and gas exploration company Tullow Oil is calling it a day in Suriname. Drilling operations at the Goliathberg-Voltzberg North (GVN) exploration well at Block 47 failed to deliver commercial crude earlier this year after reaching total...

T&T inks massive gas deal with Shell; to produce as much as 700 mmscf per day

Prime Minister of Trinidad and Tobago, Dr. Keith Rowley announced on Wednesday that a crucial agreement was signed between his administration, Shell Trinidad and Tobago Limited, and Shell Trinidad and Tobago Resources SRL (Shell) on the terms and conditions...

Brazil working with OPEC but has no plans to join cartel

(S&P Global Platts) Brazil is continuing to work cooperatively with OPEC but has no current plans to formally join the oil producer cartel, the country's energy minister said Nov. 17, noting rising domestic concerns over high oil and gas...

Six oil companies will compete to sell up to 55 million barrels of Brazil crude

(S&P Global Platts) Six oil companies will compete for the rights to buy Brazil's share of profit oil from four subsalt production sharing fields, with up to 55 million barrels of crude available, government subsalt management company Pre-Sal Petroleo...

Appeal hearing granted to US oil execs jailed in Venezuela

(AP) — Six U.S. oil executives detained in Venezuela for four years on corruption charges have been granted a hearing before an appeals court, a rare decision by the judicial system in the South American country. A judge this week...

Venezuela slashes daily oil production target to 1 million barrels

(Bloomberg) Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain, and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in...

No major U.S. oil sanctions relief for Venezuela expected from its elections

(S&P Global Platts) Any major easing of US oil sanctions against Venezuela remains off the table, but the country's Nov. 21 elections could provide a chance for relief around the edges like a restart to crude-for-diesel swaps. Candidates backed by...

Price of fuel goes up in Brazil amid international surge in crude oil

(MercoPress) Brazil's oil company Petrobras Monday decreed an increase in the price of gasoline of 7.04% at refineries and 9.15% in the case of diesel fuel, it was announced. These adjustments were to impact the price consumers pay at...

Consortium signs multi-client agreement for seismic campaigns offshore Suriname

TGS, a global provider of energy data and intelligence, in a consortium with CGG and BGP announced on Wednesday the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the...

Oil major Chevron seals the deal for Suriname oil block

U.S. oil major Chevron has signed a Production Sharing Contract (PSC) with Suriname state oil company Staatsolie Maatschappij Suriname for block 5 offshore the South American country. By entering the PSC, Staatsolie said Chevron has been granted exploration, development and...

Latest News

‘If not now, then when’: Guyana gov’t targeting 50 million barrels by 2026

The number of major oil projects to be sanctioned globally in 2022 is anticipated to be in the mid-30s,...