US multinational investment bank and financial services company Morgan Stanley says its modelling of Suriname’s Block 58 shows that it contains a potential 6.5 billion barrels of oil equivalent resources which can be developed across seven phases with first...
UK-based United Oil & Gas PLC said on Monday it has received approval from the Jamaican Government to take forward the Walton Morant Licence, Jamaica, on a 100% operated basis.
United has been assigned Tullow Jamaica Ltd's 80% equity in the Walton Morant...
(Reuters) - U.S. defense contractor Huntington Ingalls Industries Inc has joined a long line of creditors seeking to enforce a judgment against heavily indebted OPEC member Venezuela, court documents filed on Friday showed.
Huntington Ingalls’ shipbuilding unit earlier this year...
(Reuters) - Venezuela’s supreme court said on Friday it had approved a request to Italy for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, on corruption charges.
Authorities...
Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. However, the longer-term trajectory of oil sands production is expected to change...
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...
(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...
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...
(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...
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...
