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Jamaica energy minister warns against unrealistic oil expectations

OilNOW -
Jamaica’s Minister of Science, Energy and Technology, Dr. Andrew Wheatley has warned against any unrealistic expectations of a financial windfall in the short term from the three-dimensional (3-D) seismic survey for offshore oil and gas exploration now getting under...
Regional

S/America’s O&G output flat until 2023; Guyana seen as new supply source

OilNOW -
Crude oil and natural gas production in South America is likely to remain fairly flat over the next five years, slightly increasing to roughly 11.7 million barrels of oil-equivalent per day (MMBOE/d) by 2025, Rystad said Tuesday. The lone English speaking...
News

Venezuela’s oil-backed cryptocurrency will be convertible to Russian rubles – Maduro

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(RT) The so-called ‘petro’ digital currency, which was launched by Venezuela last month, will be traded for several global currencies, including the Russian ruble. “Starting March 23, all legal and physical entities will be able to purchase the petro directly…...
News

36 companies set to bid for blocks in Mexico’s next round

OilNOW -
(Hart Energy) An opportunity to develop and produce oil from the Burgos, Tampico-Misantla-Veracruz and Cuencas del Sureste (Southeast) basins has attracted three dozen companies—including the U.K.’s BP, Capricorn Energy and Premier Oil—to Mexico. Mexico’s National Hydrocarbons Commission (CNH) said 36...
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Guyana could sell oil to CARICOM at preferential rates

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Guyana - the latest and soon-to-be greatest producer of oil in the Caribbean Community (CARICOM) could sell the commodity to member states at preferential rates, similar to a special facility Venezuela set up in 2005 under the Petrocaribe agreement. Up...
News

US bans transactions with Venezuela’s petro cryptocurrency

OilNOW -
President Donald Trump on March 19 signed an executive order barring any U.S.-based financial transactions involving Venezuela’s new petro cryptocurrency, as U.S. officials warned that it was a “scam” by President Nicolas Maduro’s government to further undermine democracy in...
News

Trump’s offshore oil plan will struggle to lure rigs from Guyana

OilNOW -
The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude. But The Trump administration is hoping to...
News

Crisis-hit Venezuela could soon tip the oil market ‘decisively into deficit,’ IEA says

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(CNBC) Venezuela is likely to remain the biggest risk factor among leading oil producers for some time to come, according to the latest monthly report from the International Energy Agency (IEA). An attendant sits at a closed Petroleos de Venezuela SA...
News

Dominican Republic to join Caribbean energy exploration rush

OilNOW -
The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean...
News

Tillerson’s departure could shift path on Venezuela oil sanctions – Analysts

OilNOW -
The removal of Rex Tillerson as US Secretary of State could alter the administration's plans for sanctions on Venezuela's oil sector, analysts have said. Tillerson, the former CEO of ExxonMobil, had become a leading advocate for sanctions on Venezuelan exports...
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Second phase of Berbice training facility progressing with extended timeline

The construction of the oil and gas training facilities at the Guyana Technical Training College (GTTCI) in Port Mourant,...

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