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Sept. 1 (Reuters) An unprecedented deal for the U.S. to gain access to a fifth of Venezuela's oil reserves - and the central role a Venezuelan businessman will play - is prompting questions and hesitation from some oil companies evaluating potential investments in the country, sources familiar with the situation told Reuters. A White House fact... Continue Reading →
Aug. 31 (finance.yahoo.com) Ali Moshiri, CEO of Amos Global Energy and former President of Chevron Africa and Latin America, recently appeared on CNBC to weigh in on what an ownership stake in Venezuelan oil fields could mean for the U.S. He believes that one of the biggest advantages of the deal will be that Venezuelan oil... Continue Reading →
Aug 31 (Reuters) - Colombian firms handling oil services and goods are moving into Venezuela to work in the sector, following announcements of reactivation and new exploration and production contracts, a trade group leader said on Monday. The move comes as President Donald Trump announced that the United States had secured majority control over some... Continue Reading →
Aug. 31 (oilnow.gy) PETRONAS has logged eight successful wells in Suriname’s offshore Block 52 since launching its drilling program there in 2016. The wells have identified oil and gas resources exceeding one billion barrels of oil equivalent. They also support the company’s assessment of potential commercial developments in the block. The eight wells are Roselle-1,... Continue Reading →
Aug. 31 (OE) Eni has, together with MIWEN (a wholly owned subsidiary of YPF) and the Uruguayan National Oil Company ANCAP, signed an official agreement for the entry in the OFF-5 exploration block offshore Uruguay, following approval by the Uruguayan authorities. Eni is now the operator of the OFF-5 block with a 50% interest, alongside... Continue Reading →
Aug 31 (Reuters) - A massive long-term oil deal expected to grant the U.S. access to a fifth of Venezuela's crude reserves has energy experts and lawyers questioning its legality and eventual execution, while calling on both governments for contract transparency. The unprecedented pact, announced by U.S. President Donald Trump on Friday and confirmed by Venezuela's interim... Continue Reading →
Aug 28 (Reuters) - California on Friday sued the Trump administration and an offshore wind developer over a deal that canceled a planned project off the state's Central Coast in exchange for a $120 million federal reimbursement and a commitment to invest in fossil fuel projects. California Attorney General Rob Bonta filed the lawsuit in... Continue Reading →
Aug 30 (Reuters) - China's largest oil and gas company, PetroChina, reported on Sunday a 22% jump in first-half net profit, as higher oil prices and stronger fuel sales boosted earnings. H1 net profit attributable to shareholders rises 22% to 103.94 billion yuan ($14.65 billion) from 84 billion yuan a year earlier. Revenue up 5.3%... Continue Reading →
Aug 29 (Reuters) - Venezuelan interim President Delcy Rodriguez said on Saturday that an energy agreement with the U.S. would remain in force for 25 years, target an increase in crude output to 1.5 million barrels per day (bpd) and preserve the country's sovereignty over its natural resources. Rodriguez hailed the accord in a late-night address as... Continue Reading →
Aug. 28 (offshoreWIND.biz) BW Ideol’s 2 MW Floatgen floating wind turbine has been in operation for eight years at the SEM-REV offshore test site off Le Croisic, France, with cumulative electricity production now exceeding 40 GWh. The turbine, installed on BW Ideol’s concrete Damping Pool floating foundation, entered operation in 2018 and has recorded average... Continue Reading →
Brazil Energy Insight 