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Brazil to close Caracas Embassy in bid to further isolate Maduro

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(Bloomberg) Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said. The official, who’s directly involved in the process but isn’t allowed to...
News

TT facing unprecedented economic crisis – former energy minister

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Caribbean petroleum producer Trinidad and Tobago is facing an unprecedented economic crisis fueled by a downturn in LNG and oil prices which former energy minister Kevin Ramnarine says only careful planning and a reality check can avert. “Folks we are...
Exploration

Apache second well offshore Suriname looking favourable

OilNOW -
Following a significant discovery at the Maka Central-1 well at Block 58 offshore Suriname, Apache Corp. is now gunning for oil at a second prospect on the block which reports indicate look promising. John J. Christmann IV, CEO and President...
News

Oil tanker captain killed in Pirate Attack off Venezuela

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Reports indicate that on Monday, armed robbers boarded the tanker San Ramón at an anchorage off Isla Borracha, Venezuela, and killed the vessel's master in an altercation. According to a report in The Maritime Executive, the victim has been identified by Venezuelan...
Discoveries

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

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(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them discover then recover massive amounts of crude oil locked beneath the floor of the Atlantic...
News

Brazil’s Petrobras records record income

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Brazilian state oil company Petrobras recorded an income of 9.205 billion dollars in 2019, which represents a 55.7 % rise compared to 2018. According to an update from the company, the greatest revenue in its history was a result of...
News

Maduro declares oil emergency; appoints commission to revamp PDVSA

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President of Venezuela Nicolas Maduro has declared an oil emergency, announcing a commission to revamp state oil company Petroleos de Venezuela SA (PDVSA) in a bid to rescue the country’s collapsing oil industry. According to a report in Bloomberg, the...
News

Hungry for gas; Brazil needs LNG imports to meet demand – Rystad Energy

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Brazil’s natural gas demand is set to climb to a record in 2020‒2021 at 39 billion cubic meters (bcm) per year, giving the country one of its biggest demand-supply deficits in history, Rysatd Energy said in a new report...
News

US Treasury Department sanctions Rosneft Trading S.A. for supporting Maduro regime

OilNOW -
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury on Tuesday announced the designation of Rosneft Trading S.A., the Swiss-incorporated, Russian-controlled oil brokerage firm for operating in the oil sector of the Venezuelan economy. A...
News

Venezuela seizes tanker holding almost 1 million barrels of oil

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(Bloomberg) A crude tanker stuck at sea for over a year has become the latest front in the battle over Venezuela’s oil riches after being seized last week. Citgo Petroleum Corp., led by appointees of Venezuelan opposition leader Juan Guaido,...
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Offshore EPC contract awards projected to reach US$54 billion in 2025 amid challenges

The offshore oil and gas industry is expected to see a slight 1% year-on-year growth in engineering, procurement, and...

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