Regional

Regional

Brazil’s Petrobras slashes 2019 investment budget by billions

OilNOW -
Brazilian state-led oil producer and refiner Petrobras will cut spending by more than 30% in 2019 as the company adjusts the way it accounts for field unitizations, adapts to a weaker Real-dollar exchange rate and delays drilling activity after...
Exploration

First gas expected from BP Trinidad’s Cassia project in 2021

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BP Trinidad and Tobago’s (BPTT) Cassia Compression project is on track with first gas expected in 3Q 2021. The Cassia Compression project will enable BPTT to access and produce low pressure gas reserves from currently producing fields in the...
News

US allows Chevron to remain in Venezuela

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(Argus) The US will extend by three months Chevron's exemption from sanctions targeting Venezuela's oil sector. Chevron and oil field service providers Halliburton, Schlumberger, Baker Hughes and Weatherford will have until 27 October to wind down business in Venezuela, the...
Exploration

Tullow aiming to drill Suriname wildcat in 2020

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UK-based Tullow Oil and its joint venture partners are gunning for a drill campaign at a Suriname wildcat in 2020. The company said this week that is has interests in three blocks in Suriname; Blocks 54, 62 and 47. “Following...
News

Massive discovered resource opportunities on offer in Brazil 2019 pre-salt bid rounds

OilNOW -
The forthcoming three-round licensing bonanza of Brazil’s pre-salt acreage includes four massive discovered resource opportunities (DROs) sandwiched between two high-profile exploration rounds.  Timing for this round is set for November 6, 2019, industry analyst Wood Mackenzie said in a...
News

China will determine the future of Venezuela

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(Al Jazeera) On January 23, when US-backed opposition leader Juan Guaido declared himself interim president of Venezuela, he thought deposing President Nicolas Maduro from power would be easy. He had a simple, three-thronged plan: declare Maduro's presidency illegitimate by exposing...
Exploration

SBM signs letter of intent to lease and operate FPSO Mero 2 in Brazil

OilNOW -
SBM Offshore has signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 22.5 years lease and operate of FPSO Mero 2, to be deployed at the Mero field in the Santos Basin offshore Brazil, 180...
News

Caracas threatens to seize Chevron oil assets

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Venezuela is threatening to nationalize Chevron's oil assets if Washington declines to extend a sanctions waiver that expires on 27 July, reports independent media organization, Argus. The waiver issued as a general license by the US Treasury Department on 28 January allowed...
Exploration

No signing bonus, free seismic data for companies in Dominican Republic’s first ever licensing round

OilNOW -
With no signing bonus and seismic exploration data being made available to companies for free, the Dominican Republic is offering low-risk contract terms in an effort to attract big investment in its nascent oil and gas industry. The licensing round...
News

Mexico moratorium on oil auctions giving rival Brazil an edge

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(Bloomberg) -- Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has...
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BOMESC secures contract for Suriname’s first deepwater FPSO topside modules

BOMESC Offshore Engineering Company Limited has signed a contract with STS VOF to construct topside modules for Suriname’s first...

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