ExxonMobil makes 10th oil discovery offshore Guyana
GEORGETOWN - United States oil giant ExxonMobil has made its 10th discovery offshore Guyana at the Pluma-1 well. This latest discovery has increased the estimated recoverable resource for the Stabroek Block to More...
Qatar is leaving OPEC
Qatar will leave OPEC in January 2019 to focus its efforts on plans to develop and increase its natural gas production, a decision is confirmed today by the country's state oil company (the Qatar Petroleum) just More...
Rosneft chief rebukes Venezuela oil shipments
WASHINGTON, MEXICO CITY - The head of Russian oil company Rosneft, Igor Sechin, flew to Caracas last week to meet Venezuelan President Nicolas Maduro and complain over delayed oil shipments designed to repay loans, More...
China to lend Venezuela $5 billion
BEIJING - China has agreed to extend a $5 billion credit line to cash-strapped Venezuela, as President Nicolas Maduro headed to Beijing, Bloomberg News reported. Venezuelan finance minister, Simon Zerpa, told Bloomberg More...
Venezuela hands China more oil presence, but no mention of new funds
CARACAS, BEIJING - Venezuela gave China another stake in the OPEC member’s oil industry and signed several other deals in the energy sector, but Beijing made no mention of new funds for Caracas during President More...
Dock damage adds to Venezuela’s oil export troubles
CARACAS - An allision at Venezuela's main oil export port may have serious implications for PDVSA's contractual obligations with foreign oil consumers, including Russian oil major Rosneft, which has agreed to accept More...
CCJ President says rule of law crucial for a new oil-rich Guyana
GEORGETOWN - The rule of law and the Caribbean Court of Justice (CCJ) influence will play an important part in making sure the benefits of Guyana’s emerging oil and gas sector are widespread and sustainable. That’s More...
Government invests in Curoil for undisturbed fuel delivery
WILLEMSTAD - The government invests more than 10 million guilders in Curoil. A contribution to the investments for an undisturbed fuel supply on Curaçao. Additional storage capacity is being built with the funds. The More...
ExxonMobil says there’s more oil offshore Guyana than it first thought
GEORGETOWN - There appears to be more oil offshore Guyana than oil giant ExxonMobil had originally estimated. It announced earlier today that it has now been confirmed that the 6.6 million-acre Stabroek Block which More...
Venezuela forced to shut down production as operations fall apart
HOUSTON - Every week the crisis in Venezuela takes a turn for the worse. There are now signs that its oil industry is entering a dangerous new phase. Argus Media reports that Venezuela has begun to “proactively More...
