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(Reuters) - A U.S. judge on Monday ordered Argentina to give up its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion court judgment, handing a defeat to the cash-strapped country. U.S. District Judge Loretta Preska in Manhattan said Argentina must transfer its YPF shares within 14 days to BNY Mellon,... Continue Reading →
(Reuters) - Argentina on Monday urged London's High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its... Continue Reading →
(Reuters) - Suriname's state energy company Staatsolie and an affiliate of Malaysia's oil firm Petronas on Tuesday signed a production-sharing contract for exploring and developing an offshore oil and gas block, Staatsolie said in a release. Suriname is on track to inaugurate offshore crude and natural gas output soon after foreign companies including TotalEnergies, APA and Petronas have... Continue Reading →
Eni and Argentina's energy company YPF have signed an agreement for the Argentina LNG (ARGLNG) project. The agreement defines the required steps to reach the final investment decision for the phase of the project that includes the production, treatment, transportation and liquefaction installations of gas through floating units, for a total capacity of 12 million... Continue Reading →
By STEVEN GRATTAN Associated Press (AP) — Colombia’s ambitious plans for wind energy development, especially in the resource-rich La Guajira region, are facing serious setbacks as major companies pull out and projects stall, industry experts say. Margarita Nieves, director of the Colombian Offshore Wind Research Network, told The Associated Press that despite large targets — including... Continue Reading →
(oilnow.gy) Just across the Corentyne River, Suriname is watching. It has seen Guyana go from oil discovery to oil power in less than a decade, GDP booming, rigs multiplying and an international attention growing. But where Guyana surged ahead, Suriname is moving with caution. Guyana’s momentum was driven by multiple factors: a stable investment climate, a business-friendly... Continue Reading →
(Reuters) - The Trump administration has issued a narrow authorization for U.S. oil producer Chevron (CVX.N), opens new tab to keep assets in Venezuela, including its stakes in oil joint ventures with state company PDVSA, three sources with knowledge of the decision said on Tuesday. Chevron and several European firms had been in talks with officials in Washington in... Continue Reading →
(Reuters) - Mexico's Pemex, the world's most indebted energy company, plans to restructure parts of its business in an attempt to save costs, a May document seen by Reuters showed. Earlier reports, citing another document from last month suggesting it could include a layoff of over 3,000 tenured employees and save up to around 10.5... Continue Reading →
(offshore-energy.biz) France’s energy giant TotalEnergies is making strides in the development of the first-ever offshore oil field in Suriname. Progress has also been achieved in the construction of a floating production, storage, and offloading (FPSO) vessel destined for this project. Following a final investment decision (FID) for the 12.2-billion GranMorgu offshore oil field in Block 58, located around 150 kilometers off... Continue Reading →
(Reuters) Mexican state energy company Pemex plans to reopen old wells in a bid to squeeze more barrels out of them to boost declining oil production, according to two documents and four sources, as it struggles to reach an ambitious government target. Pemex said in a filing to the United States Securities and Exchange Commission... Continue Reading →
Brazil Energy Insight 