Category: Oil Production

First large-scale purchase of Halo-Connect nodes to support seismic exploration in Colombia

Sept. 2 - Colombian geophysical services company Vector Geophysical has acquired 30,000 STRYDE Halo-Connect ground-based seismic nodes along with a Nimble receiver system, significantly expanding its capacity to execute high-density seismic surveys in Colombia. The agreement marks STRYDE's first large-scale order for Halo-Connect since the launch of the next generation of its miniaturized seismic node... Continue Reading →

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Chevron expands Venezuela presence with $7 billion plan to double output in five years

 Sept 2 (Reuters) - Chevron ​will invest more than $7 billion through its Venezuela joint ventures to double oil production to about 600,000 barrels per day over the ‌next five years in the South American country, the U.S. oil major said on Wednesday. Under new agreements, Chevron's Petroindependencia joint venture will expand to include two adjacent areas in... Continue Reading →

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Iran Creates Oil Bonanza for the Americas

Sept. 2 (Reuters opinion by Ron Bousso) From Canada to Argentina, oil producers across the Americas have enjoyed a windfall during the Iran war by capturing market share lost by Middle Eastern exporters. The renewed focus on energy security globally could transform this emergency response into a lasting structural change. Oil production in the Americas... Continue Reading →

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Experts, lawyers puzzled over US-Venezuela oil deal, call for contract transparency

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 →

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