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Petrobras eyes more gas production with two new FPSO charters 

OilNOW -
Aiming to boost Brazil’s natural gas supply, the state-owned Petrobras issued tenders for two production platforms for its Sergipe Deepwater Project (SEAP), in the Sergipe-Alagoas Basin, about 100 km off the country’s coast.  Besides expanding Brazil’s availability of natural gas,...
News

Arrests climb to over 30 in PDVSA billion dollar oil scandal: 67 warrants issued – Venezuela AG 

OilNOW -
The PDVSA billion dollar oil scandal runs deep with the arrests now at 34, according to Venezuela’s Attorney General Tarek Saab. Venezuelan authorities have also issued 67 arrest warrants, 30 of which are for public officials and financial operators...
News

Exxon cuts losses from Brazil after third dud, focus shifted to Guyana, Permian

OilNOW -
After a third dud, ExxonMobil has abandoned current drilling efforts in Brazil’s deepwater acreage, according to a Wall Street Journal report.  WSJ’s sources indicate that Exxon has shifted geologists and engineers from Rio de Janeiro to its other prospects in...
News

World Court strikes out Venezuela’s roadblock against Guyana’s case to end the Essequibo controversy

OilNOW -
The International Court of Justice (ICJ) on Thursday struck down Venezuela's preliminary objection against the admissibility of Guyana's case before the Court. The ruling removes a roadblock Venezuela intended to set up to prevent a final settlement of the...
News

April 6 set for World Court ruling on Venezuela’s preliminary objections in border case with Guyana

OilNOW -
The International Court of Justice (ICJ) said it will make a key ruling in the border case between Guyana and Venezuela: Arbitral Award of 3 October 1899 (Guyana v. Venezuela). The judgment is not related to the conclusion of...
News

19 out of 21 charged in PDVSA’s missing US$21.2B scandal 

Shikema Dey -
Charges of appropriation or distraction of public patrimony, money laundering and association, influence peddling, among other crimes were laid against 19 of the 21 persons fingered in the massive US$21.2 billion PDVSA scandal.  In a Tweet, Venezuela’s Attorney General Tarek...
News

PDVSA scandal will not affect T&T Dragon Gas Deal negotiations – Young 

Shikema Dey -
Trinidad and Tobago’s Energy Minister Stuart Young remains confident that the current PDVSA scandal will in no way affect its ongoing negotiations with Venezuela on the Dragon gas deal.  Young was forced to comment after Venezuela’s Energy Minister, Tareck Al...
News

The missing US$21.2B at the centre of Venezuela’s latest corruption scandal

Shikema Dey -
Venezuela’s PDVSA is making headlines again. And not in a positive way.  Just when Venezuela’s oil industry appeared to be on the rebound, PDVSA has been hit with a major corruption scandal investigation, one that has seen its Energy Minister...
News

Former energy minister disagrees with IMF’s positive outlook for Trinidad economy

OilNOW -
Trinidad and Tobago's economy got a favourable outlook from the International Monetary Fund (IMF) for 2023, seen as a positive sign that it is slowly recovering after years of struggling.  But its former Minister of Energy, Kevin Ramnarine disagrees. “The International...
Exploration

Hess, Chevron and Shell looking to hit pay at Suriname well this year 

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, said one exploration well will be drilled this year in Block 42 offshore Suriname.  Hess, Chevron and Shell, the operator, are equal stakeholders in the Block which lies north of Block 58,...
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Guyana’s annual take from oil to balloon to US$9.2 billion in 2030 – Rystad Energy

Guyana is projected to receive US$9.2 billion in revenue from oil sales and royalties in 2030, according to a...

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