(Reuters) Venezuelan President Nicolas Maduro said he would authorize oil exploration in an area subject to a dispute with Guyana, which said it would report his comments to the United Nations and the International Court of Justice (ICJ). Maduro's pledge to permit development around the Esequibo river came after his government held a referendum over the weekend... Continue Reading →
(OM) Javier Gremes Cordero has been appointed COO of Maha Energy. Gremes will replace Alan Johnson, who leaves Maha in connection with the closing of Maha’s technical office in Calgary, Canada. All functions previously handled by the Canadian office are being transferred to Maha’s office in Rio de Janeiro, Brazil, or Maha's office that is... Continue Reading →
(Bloomberg) Exxon Mobil Corp. Chief Executive Officer Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela. “I’m not sure the press has captured the true intensity of the situation there, but we’re keeping an... Continue Reading →
(OP) In Guyana’s territorial waters, after Exxon’s swathe of world-class petroleum discoveries, gigantic ships called floating production storage and offloading (FPSO) vessels are sucking crude oil from reservoirs up to four miles below the Earth’s surface. Since then, it has been estimated the former British colony of just over 800,000 possesses at least 11 billion barrels of recoverable... Continue Reading →
(Reuters) - Venezuela is close to approving a license for Shell (SHEL.L) and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said. The license could set in motion a long-running effort by Trinidad to boost... Continue Reading →
(Reuters) Venezuela's state-run oil company PDVSA is offering to sell up to 1 million barrels of Corocoro crude through an intermediary, sources said on Wednesday, which could become the first sale of that grade in two years. Since Washington temporarily eased oil sanctions on the country last month, PDVSA has been allocating spot cargoes of... Continue Reading →
(Reuters) - Venezuela's state-owned PDVSA is in talks with local and foreign oilfield firms to hire equipment and services that would allow it to revive depressed output, sources close to the meetings said, after the U.S. relaxed sanctions on the country. The U.S. Treasury Department in October authorized for six months the production and export of Venezuelan... Continue Reading →
(Reuters) Energy company Repsol's REP.MC adjusted net profit fell 27% year-on-year in the third quarter because of lower oil and gas prices, it said on Thursday, adding it would further diversify into renewables to offset fossil fuel volatility. The company reported an adjusted net profit of 1.1 billion euros ($1.16 billion). That was below the... Continue Reading →
(Reuters) The largest oilfield service firm, SLB, is planning a quick return to Venezuela's oilfields following the broad relaxation of U.S. sanctions on the country's oil industry, its chief executive said on Friday. The U.S. on Wednesday lifted most restrictions on Venezuela's oil industry for six months to produce, sell and export oil. The move temporarily... Continue Reading →
(Reuters) The United States has granted an amendment requested by the government of Trinidad and Tobago to a license allowing the joint development of an offshore gas project with Venezuela, the Caribbean country's Energy Minister Stuart Young said on Tuesday. The amendment would allow payments in hard currency or in kind to Venezuela for any gas supplied by state-run... Continue Reading →
