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U.S. turns screws on maritime industry to cut off Venezuela’s oil

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(Reuters) - Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country. U.S....
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Santokhi is new Suriname President

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(StarNieuws) Chan Santokhi has been elected President of the Republic of Suriname and Ronnie Brunswijk as Vice President. The meeting was attended by all political groups, so that more than 34 members were present in the room. Although there...
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Apache extends Noble Sam Croft contract for Suriname campaign

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Apache Corporation, operator at Block 58 offshore Suriname, has extended its contract for the Noble Sam Croft drillship by executing an option for another well. The contract initially expired in June, prior to which the Sam Croft made two discoveries...
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Brazil, Angola take bigger share of Chinese oil market

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China imported crude oil at the rate of 11.93 million barrels per day last month, 25.4 percent faster than a year earlier and the fastest rate in any month on record, the OilX Research website says. OilX Research says the...
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Staatsolie taking ‘accelerated steps’ to prepare for offshore oil bounty

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Fresh off the historical twin oil discoveries at Block 58, Suriname state oil company Staatsolie says the oil strikes mark a change for both the company and country and it has been preparing for this for years, partly through...
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‘There is no wealth to distribute’: Venezuela poverty rate surges

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Venezuela's poverty rate surged in 2019 to levels unmatched elsewhere in Latin America as the once-prosperous oil producing nation's hyperinflationary economic collapse continued for a sixth-straight year, according to a new study. The 2019-20 National Survey of Living Conditions (ENCOVI),...
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Petrobras to open tender for Brazil’s biggest ever platform

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(Reuters) - Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro...
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Venezuela sanctions set off fight for ‘plundered’ oil cargo

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(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on...
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Brazil’s Petrobras begins decommissioning offshore platform in Campos Basin

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Brazilian state oil company Petrobras says it has begun the decommissioning of the P-12 platform in the Campos Basin and will also be moving to decommission the P-07 and P-15 platforms as well as the FPSO Piranema, this year. According...
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Saipem secures US$325 million contract for Búzios pre-salt field in Brazil

OilNOW -
Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore...
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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...

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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