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Brazil’s Temer relaxes stringent local content requirements

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The Government of the Federation of Brazil has yielded to demands for higher minimum percentages as they edge closer to an industry-wide local content policy. Brazil in recent years has become known for its stringent local content requirements; some of...
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Canada firm plans $200M coin/share offering for oil and gas

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(Reuters) - Canadian oil financing firm Oleum Capital Inc plans to raise $200 million in mid-January through what it calls the world’s first offering of both shares and cryptocurrency tokens, a senior company executive told Reuters. The Calgary, Alberta-based company,...
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New survey shows White House now considered most corrupt institution in America

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The results of a survey released Tuesday by Transparency International show that compared to early 2016 more Americans now believe corruption is on the rise in the US and that the White House is the most corrupt of nine key...
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St Lucia PM renews appeal for information on controversial Oil Exploration Agreement

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(CARIBBEAN NEWS NOW) – Some four years after then leader of the opposition in Saint Lucia, Stephenson King, wrote to the governor general, Dame Pearlette Louisy, seeking clarification regarding an oil exploration licence purportedly granted to Colorado oilman Jack Grynberg...
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Chevron projects $18.3B spending budget, down 4 percent

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Chevron Corp (CVX.N), the second largest U.S.-based oil producer, is budgeting $18.3 billion for capital projects next year, the company said on Wednesday, about 4 percent less than this year and lower for a fourth year in a row. International...
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UK will react firmly if Venezuela violates Guyana territory – British High Commissioner

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Reminiscent of a 2013 maritime incident in which a US-operated vessel was seized by the Venezuelan navy while in Guyana waters searching for oil, British High Commissioner to Guyana, Greg Quinn, says similar aggression by the Bolivarian Republic in...
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Petrobras: New Mero field contains 3.3 billion barrels of oil

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(Offshore) Brazilian oil company Petrobras has declared commerciality of the field in the Libra Northwest area, in the pre-salt of Santos Basin off Brazil, renaming it Mero. Namely, Petrobras said in its statement last Thursday that it had submitted the declaration...
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U.S. tax reform supports oil and gas

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(Maritime Executive) The U.S. Senate approved a revised Tax Cuts and Jobs Act on Saturday, that API President and CEO Jack Gerard applauds as pro-growth and pro-development. “With this morning’s Senate vote, Congress is poised for the first time in...
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First Mobil-branded service stations to open in Mexico

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ExxonMobil announced today a partnership with retailer Grupo Orsan to open eight Mobil-branded service stations this week in Querétaro as part of the company’s entry in Mexico’s fuels market. ExxonMobil plans to open 50 Mobil stations in the Bajio region...
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After 2.5 billion barrels Eagle Ford has more oil coming

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(Hart Energy) Mark Twain would appreciate irony in the Eagle Ford Shale, where rumors of the play’s impending exhaustion are greatly exaggerated. The Eagle Ford has produced 2.5 billion barrels (Bbbl) of oil and will generate another 2.1 Bbbl, according...
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Guyana’s oil output to expand in 2025 amid forecast of lower prices

The Guyana government projects an increase in the rate of crude oil production offshore from 616,000 barrels per day...

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