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Study shows Suriname businesses must boost capacity to benefit from offshore oil industry

OilNOW -
As the search for oil continues offshore Suriname, the Dutch-speaking South American country is looking to put systems in place for what the country hopes is an imminent discovery. State oil company Staatsolie recently commissioned an Industrial Baseline Study (IBS)...
News

Venezuela’s crack-up is accelerating

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Country’s neighbors — and the world — should prepare for the worst (Bloomberg) What happens when the country with the world’s largest oil reserves becomes its latest failed state? As Venezuela’s government grows increasingly despotic, a crack-up is accelerating —...
News

No more cheap fuel…for some

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Venezuelan President Nicolás Maduro has the announced the end of Venezuela’s notoriously inexpensive subsidized gasoline for opponents. According to a report in the Panam Post, the Venezuelan President said on August 14 that he will maintain the subsidy for...
News

Kosmos on location for new drill campaign at Pontoenoe-1 in Suriname

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Kosmos Energy’s Ensco DS-12 drillship is on location approximately 17 km east of the Guyana-Suriname maritime boundary in its new search for hydrocarbons at the Pontoenoe-1 prospect on Block 42 offshore Suriname. OilNOW understands the Ensco DS-12 arrived on location...
Exploration

United Oil & Gas says 3D data acquired off Jamaica coast “encouraging”

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UK-based United Oil & Gas Plc said on Monday, August 13, that the fast track version of the recently acquired 3D seismic dataset over the Walton-Morant licence offshore Jamaica, has been delivered by the operator, Tullow Jamaica Ltd. Encouragingly,...
News

Incompetence, greed and fear main reasons petro-countries do badly – Anthony Paul

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High levels of incompetence, greed, and the fear of making tough decisions are the primary reasons countries rich in petroleum resources do badly. So says Managing Director, Principal Consultant of Association of Caribbean Energy Specialists Ltd. (ACES), Anthony Paul. Paul,...
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Renewable energy among key factors to fuel C/bean climate-smart zone

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A ground-breaking partnership to support the Caribbean’s ambition to become the world’s first ‘climate-smart zone’ was launched on Thursday, August 9, 2018. Eight-time Olympic Gold Medal Winner Usain Bolt was in attendance to help fire the starting pistol for...
News

Venezuela facing compounding oil woes

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Though it holds the largest reserves of oil in the world, production levels put it only in the middle of the pack among OPEC member states. Venezuelan plans to stabilize crude oil production do little to address bottlenecks and the...
News

Venezuelan Petroleum Professor addressing Green Economy Workshop in Guyana

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A Venezuelan Professor of Petroleum is currently in Guyana giving advice on developing the oil and gas sector in hopes that the country does not repeat Venezuela’s mistakes.  Professor Carlos Mendoza Pottella, who is the Visiting Advisor to the Central...
News

BP investing US$8 billion in nine new T&T projects

OilNOW -
BP Trinidad and Tobago’s long-term plan could potentially see the company investing as much as $8 billion dollars in T&T, in 9 new developments in the next 10 years, according to Claire Fitzpatrick, new BPTT president. Speaking at a media...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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