Regional

Gulf of Mexico could pump record oil in 2018 – Wood Mac

(Chron) Oil and gas production could reach an all-time high in the deep waters of the Gulf of Mexico this year as companies cut costs and spend less on exploration. Deepwater output in the Gulf could climb to 1.9 million...

U.S. oil industry set to break record, upend global trade

(Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And...

Maduro urges Latin American states to join oil & gold-backed cryptocurrency project

(RT) Venezuela’s leader Nicolas Maduro has invited members of the regional ALBA-TCP bloc to join him in launching a new cryptocurrency. Named petro, the cryptocurrency will be backed by the country’s oil, gas, gold and diamond riches. “I have a...

Shell Brazil CEO optimistic about Brazil’s E&P future

(Hart Energy) For Royal Dutch Shell, 2017 was a good year in terms of E&P activities in Brazil. Ranking as the second largest oil-producing company in Brazil, after acquiring BG Group’s assets in the country, the British-Dutch major increased...

Tullow picks up 6 new licences offshore Peru; eyes drilling in 2019

Tullow today announced that it has agreed on terms to add six new licences covering 28,000 sq km, offshore Peru, South America, to its portfolio. “The Group has concluded negotiations with Perupetro and agreed to acquire a 100% stake in...

Stones FPSO designed for swift disconnection from approaching storms

(Offshore) The FPSO Turritella in the Gulf of Mexico is in the deepest-water setting of any floating production system to date, at around 2,900 m (9,500 ft). The location and the demanding operating environment – as evidenced by this season’s powerful...

TT’s economy to benefit from BP’s Juniper project in 2018 – Kevin Ramnarine

Former Minister of Energy in Trinidad and Tobago, Kevin Ramnarine, believes that during 2018 the country's economy will benefit from petroleum production by BP’s Juniper project; said to be the largest new project there in several years. BP has invested around...

Brazil’s oil production slips, oil exports up 25%

(Reuters) Brazil’s oil output fell 1.21% in November from October, regulator ANP said on Jan. 2, after state-run oil company Petróleo Brasileiro SA (NYSE: PBR) carried out maintenance work at some production units. ANP said oil output was 2.595 million...

Petrobras to pay $2.95B in US settlement for ‘car wash’ corruption scandal

(Reuters) Brazil's state-controlled oil company, Petroleo Brasileiro SA, said Jan. 3 that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption...

Trump administration proposes rollbacks to offshore oil drilling safety measures

(Market Watch) Regulators in the Trump administration are proposing to roll back safety measures put in place after the 2010 Deepwater Horizon oil spill, a revision that would reduce the role of government in offshore oil production and return...

Latest News

First pipe for Uaru development delivered to VEHSI base – Exxon official 

Exxon’s fifth Guyana development - Uaru - continues to progress with the first pipe being delivered to the Vreed-en-Hoop...