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Survival mode: Maduro gives up decades of control over oil

OilNOW -
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...
News

Frontera hits pay in Colombia as Guyana drill campaign nears

OilNOW -
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...
News

BHP to explore for petroleum offshore Barbados

OilNOW -
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...
News

ICJ to begin public hearings in South American oil producing neighbours’ border case

OilNOW -
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...
News

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...
News

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...
News

Three injured in fire at Perenco platform offshore T&T

OilNOW -
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...
News

Maduro regime courting IOCs for PDVSA majority shareholding

OilNOW -
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...
News

MoU signed between India and Brazil for oil and gas exploration

OilNOW -
(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...
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...
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Letter-to-the-Editor: The oil and gas sector is investing in the success of our younger generation

Dear Editor, I read recently that 20 Guyanese cadets were awarded the Noble Marine scholarship, a program aimed at strengthening...

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