Regional

Exploration

Eni’s new discovery offshore Mexico could contain up to 300 million barrels of oil

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Eni on Monday announced a discovery at the Saasken Exploration Prospect offshore Mexico. The company said preliminary estimates indicate that the discovery may contain between 200 and 300 million barrels of oil. The Saasken Exploration Prospect is located in Block...
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Survival mode: Maduro gives up decades of control over oil

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After decades of dominating its oil industry, the Venezuelan government is quietly surrendering control to foreign companies in a desperate bid to keep the economy afloat and hold on to power, reports the New York Times. The opening is a startling...
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Frontera hits pay in Colombia as Guyana drill campaign nears

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Frontera Energy Corporation on Thursday announced a successful discovery in Colombia in the Lower Magdalena Valley, striking a combination of light oil and natural gas. The company said it looks forward to further successes in Colombia, Ecuador and Guyana. Richard...
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BHP to explore for petroleum offshore Barbados

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Barbados’ Ministry of Energy and Water Resources has issued effective offshore exploration licences for the Carlisle Bay and Bimshire blocks to BHP, said the island’s Government Information Service. The news bulletin issued on Wednesday, quoted Minister of Energy and Water...
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ICJ to begin public hearings in South American oil producing neighbours’ border case

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The International Court of Justice (ICJ), the principal judicial organ of the United Nations, said Thursday it will hold public hearings in the case concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela), from Monday 23 to...
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Petrobras to sell stake in Brazil field

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(Zacks) Petrobras PBR and minority partner Chevron CVX announced plans to sell their stakes in the Papa-terra deep-water oilfield located in Brazil’s Campos Basin. Per Petrobras, the plan is in sync with its strategy to cut costs and improve capital...
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Trinidad cancels gas deal over US sanctions on Venezuela

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(Reuters) Trinidad and Tobago has cancelled an agreement with Venezuela for the joint development of a natural gas field straddling their maritime border because of United States sanctions on Venezuela's state energy giant Petroleos de Venezuela SA (PDVSA). The Caribbean...
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Three injured in fire at Perenco platform offshore T&T

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Three oil workers have been injured as a result of a fire at Perenco Trinidad and Tobago’s (TT) offshore AD platform. TT’s Ministry of Energy and Energy Industries is actively engaging the company, according to reports. According to the Trinidad...
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Maduro regime courting IOCs for PDVSA majority shareholding

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The Nicolas Maduro regime has proposed giving majority shares and control of its oil industry to international corporations after decades of state control. According to an article published by Bloomberg on Monday, Maduro’s representatives have reportedly held talks with Russia’s...
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MoU signed between India and Brazil for oil and gas exploration

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(Offshore Technology) Indian Prime Minister Narendra Modi’s Union Cabinet has approved a memorandum of understanding (MoU) on co-operation in the oil and gas sector. As part of the MoU, the two countries will focus on exploration and production (E&P) and...
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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...

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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