Regional

Exploration

Tullow pushes back Suriname well campaign to 2021

OilNOW -
UK-based Tullow Oil said Wednesday it will be drilling the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 early next year instead of Q4 2020, as was previously announced. The prospect lies approximately 260 kilometres off the coast of the country...
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Shell’s $780 million dry hole dims outlook for Brazil oil

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(Bloomberg) Royal Dutch Shell Plc has just drilled a dry hole in Brazil’s premier offshore region, a sign state-controlled Petrobras may have already grabbed the best oil deposits and left competitors hunting for smaller game. Shell completed its first well...
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Venezuela’s oil and gas sector sees worst crisis

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Venezuela’s oil and gas sector was already caught in a vicious cycle well before the Covid-19 outbreak created a world economic crisis. Even though there are several international companies still remaining in the country, they are not investing in any...
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Petrobras sells remaining 10% stake in TAG to Engie Brasil, CDPQ

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(Reuters) - Brazil’s state-owned oil company Petrobras on Monday agreed to sell its remaining 10% stake in natural gas pipeline company TAG to Engie Brasil and Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ). The sale is...
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Suriname deepwater becoming more attractive as Guyana remains stuck in political conflict

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The people of Suriname went to the polls on May 25 and a new President is now in place with a pledge to “reconstruct” the country’s natural resources. No doubt, the newly discovered petroleum resources will be a priority...
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Brazil boosts oil exports to Asia as global rivals make record cuts

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(Reuters) - Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand...
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Venezuela’s oil production regresses 77 years under socialism

OilNOW -
(Panam Post) In the middle of the 21st century, Venezuela’s oil industry regressed 77 years to the point where crude oil production fell to historic lows that are reminiscent of 1943. OPEC reports revealed that in June, oil production fell...
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Crude shipments resume from Pemex floating oil storage unit after collision

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(Reuters) - An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge...
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In Suriname, the coronavirus pandemic dislodges a once-unmovable strongman

OilNOW -
(World Politics Review) Any doubt that the coronavirus pandemic can transform political realities was erased Monday when one of the world’s most entrenched strongmen was formally swept out of power in the tiny South American nation of Suriname. The...
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The dismantling of the oil industry in Venezuela and the defense of the public sphere

OilNOW -
By Miguel Denis and César Romero (openDemocracy) Venezuela is going through a general collapse of public services, which adds to the problem of hyperinflation, the low wages, and precarious living conditions. This context has motivated frequent protests in many communities...
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Guyana gov’t can withdraw up to 96% of last year’s oil earnings in 2025 budget

The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule...

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