Regional

Exploration

Block 58 explorers look to Sapakara for continued success offshore Suriname

OilNOW -
Apache and Total, 50-50 partners in Suriname’s Block 58, said their next well – Sapakara West-1 - will test the same-aged upper Cretaceous intervals that brought them success at Maka Central-1, in a separate and distinct stratigraphic feature. Sapakara is...
News

Chevron’s Venezuela sanctions waiver extended to April: US Treasury

OilNOW -
(S&P Global)  The US Treasury Department has extended for three months a sanctions waiver to Chevron and four US oil services companies allowing them to continue work in Venezuela. Some within the Trump administration had pushed to allow the waiver...
News

Brazil’s Petrobras closes $1.5 billion deal to sell stake in African joint venture

OilNOW -
(Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil...
News

Suriname refinery to shut down for 40 days

OilNOW -
Suriname state oil company Staatsolie Maatschappij will undertake a major maintenance operation at its Tout Lui Faut Refinery, located 20km south of Paramaribo in February that will see the facility shutting down for 40 days. All production units with their...
News

More time granted to Tullow for drill or drop decision on Jamaica exploration

OilNOW -
United Oil & Gas PLC said Tuesday that the Production Sharing Agreement on the Walton Morant Basin offshore Jamaica, operated by Tullow Jamaica Ltd and in which United has a 20% interest, has been amended to extend the Initial Exploration Period during which...
News

Jamaica trade mission heading to CARICOM’s newest oil producer this month

OilNOW -
A delegation of around 16 Jamaican companies will visit the South American country of Guyana this month in pursuit of mutually beneficial business opportunities between the CARICOM neighbours. The visit by the Jamaican delegation to the region’s newest oil producing...
Exploration

Apache defies skeptics with major South American oil discovery

OilNOW -
(Bloomberg) Apache Corp. proved skeptics wrong with a major discovery off the northeast coast of South America, a hotly anticipated oil target that investors had feared would be another flop for the U.S. producer. The update on the Maka Central-1 well...
News

Aramco CEO says oil’s ‘central bank’ can handle any disruption

OilNOW -
(Bloomberg) Aramco’s quick recovery from the attacks on its Abqaiq oil facility shows resilience and flexibility that’s without parallel in the industry, proving to the world that Saudi Arabia is a reliable supplier, said Chief Executive Officer Amin Nasser. State-run...
News

ExxonMobil has opened up a new oil province in South America with untold potential

OilNOW -
Decades of failed attempts to find oil in the Guyana-Suriname basin saw companies bailing out and disappointment mounting, with many persons, ranging from laymen to experts, concluding that striking black gold in this frontier was unlikely and way too...
News

TT suffered 20,000 job losses in five years; O&G sector employment reduced by 40 percent

OilNOW -
More than 20,000 people in Trinidad and Tobago have lost their jobs since 2015, with more than 5,500 being sent home when the Petrotrin refinery closed down on November 30, 2018 in what has been a slew of job...
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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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