Regional

The Caribbean Development Bank (CDB) is applauding Guyana’s efforts to establish a Natural Resources Fund as the South American country prepares for first oil in 2020. Speaking recently at the Bank’s annual news conference in Bridgetown, Barbados, Director of Economics,...

(Reuters) - Venezuelan state-run oil firm PDVSA has been unable to resume crude exports at its primary port since last week’s blackout, according to people familiar with the matter, indicating that the country’s massive power outage is crippling the...

(S&P Global Platts) Surpassing Russia, Brazilian crude oil shipments for China's independent refineries topped the list in February at 2.17 million mt, S&P Global Platts monthly survey showed Tuesday. Total imports from Brazil were just 54,000 mt more than those...

(Bloomberg) There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why is the crude just sitting there? A contract dispute between oil giant Petrobras...

The probability of finding oil offshore Jamaica improved to a one-in-five chance of success, based on an independent report utilising 3D data, the Jamaica Gleaner reported on Wednesday. The 2019 report also upsized the 2017 baseline estimates of the quantity...

(Bloomberg) Venezuela is running out of space to store its sanction-stained crude that few dare to buy, forcing it to reduce output at a time when the world is thirsty for heavy, sulfurous oil. Tankers holding 8.36 million barrels of...

(CNN) Vice President Mike Pence said the US will impose additional sanctions on Venezuelan leaders and pledged more aid to the region as he called on nations to do more to confront embattled President Nicolas Maduro's government. "To leaders around...

South America has always been an important playing field for the oilfield service industry. As Brazil is turning more positive towards the international service players, Guyana is stealing some of the thunder as the country is emerging as an...

(Bloomberg) When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market. The mammoth facility -- long and wide enough...

Venezuela’s slide from top of the heap to a virtual bit player in the oil market is a slow-motion car crash. Production sank progressively from 2.6 million barrels per day (b/d) a decade ago, when it was third in...