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Suriname oil discoveries estimated at 1.4 billion barrels – Rystad Energy

OilNOW -
Norway-based independent energy research and business intelligence company, Rystad Energy, says the three discoveries made offshore Suriname to date are estimated to contain combined oil equivalent resources of almost 1.4 billion barrels. Maka Central-1 and Sapakara West-1 were the first two...
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SBM Offshore in talks for giant Brazil FPSO

OilNOW -
Dutch floater specialist SBM Offshore has entered negotiations with Petrobras for a charter contract for the FPSO Almirante Tamandaré. The vessel will operate in the Buzios field in the Santos basin, offshore Brazil. SBM Offshore said Tuesday the anticipated production capacity of...
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Venezuela and Iran defy U.S. sanctions with new tanker delivery

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(Bloomberg) --An oil tanker is discharging Iranian condensate for Venezuela as both countries continue to avoid U.S. sanction tripwires. The ship, identified as Honey, turned off its satellite signal and started unloading about 2 million barrels of South Pars condensate...
Regional

Energy giant bp granted 10-year extension on 92 licenses in Trinidad and Tobago

OilNOW -
Trinidad and Tobago’s largest hydrocarbon producer, bp, has been granted a 10-year extension on 92 of its exploration and production licences in the Columbus Basin. According to a report on CNC3, the twin island republic is expected to reap a...
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TT Energy Chamber launches Local Content Management System

OilNOW -
The Energy Chamber of Trinidad and Tobago on Wednesday launched its Local Content Management System (LCMS), the first of its kind in the region, which seeks to establish a robust framework to estimate the proportion of a dollar spent...
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Shell acquires Kosmos’ offshore interests in Suriname

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Kosmos Energy on Wednesday said that it has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell PLC, to farm down interests in a portfolio of frontier exploration assets for approximately...
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Latin America’s renewable energy capacity set to skyrocket

OilNOW -
Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected globally in the coming years, Rystad Energy said in a report on Tuesday. With auctions already adopted throughout Latin America, the Norway-based...
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Twenty-five percent of BP’s staff in T&T to be sent home

OilNOW -
Prime Minister of Trinidad and Tobago Dr Keith Rowley has disclosed that BPTT officials have told him they will soon be cutting 25 per cent of their workforce, according to a report in the Trinidad Guardian. However, the report cites...
News

Total drops operator role for five exploration blocks in Brazil

OilNOW -
French multinational oil and gas company Total said on Monday it had notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore...
News

Trinidad & Tobago reports significant fall in natural gas production

OilNOW -
Trinidad and Tobago’s Ministry of Energy and Energy Industries on August 11 reported that the Country’s natural gas production plummeted in June to its lowest level since 2016 averaging a mere 3.110 billion standard cubic feet per day (Bscf/D). The...
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Guyana's Oil LedgerKemol King -

Guyana earned US$2.57 billion from oil in 2024

Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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