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(Reuters) Trinidad and Tobago on Tuesday offered 26 offshore oil and gas blocks in its largest-ever auction of areas for deepwater exploration and production, according to an official notice. The twin-island Caribbean country, Latin America's largest exporter of liquefied natural gas (LNG), is pushing producers, especially those offshore, to accelerate natural gas output in order... Continue Reading →
(Reuters) A World Bank arbitration tribunal has dismissed a request by Venezuela to annul a $8.37 billion arbitration award to ConocoPhillips, clearing the way for the U.S. producer to reclaim compensation for the expropriation of its oil assets in the South American country. The International Centre for Settlement of Investment Disputes (ICSID) declared the expropriation... Continue Reading →
(Reuters) - Guyana's economy achieved its fifth consecutive year of double-digit growth in 2024, expanding 43.6% as oil output and exports showed solid increases, the Finance minister said on Friday, but the expansion is expected to slow this year. Latin America's newest oil producer last year became the region's fifth-largest crude exporter after Brazil, Mexico,... Continue Reading →
(Reuters) - Guyana's oil exports rose 54% last year to some 582,000 barrels per day (bpd), fueled by European refiners' demand for easy-to-process sweet crudes to replace some Middle Eastern grades, according to traders and shipping data from financial firm LSEG. Since it started exporting oil in early 2020, the burgeoning oil nation has emerged as the... Continue Reading →
(Reuters) - China National Petroleum Corp (CNPC), Asia's largest oil and gas producer, has over the past three decades built a global portfolio with assets in 33 countries. The company's overseas production exceeded 100 million metric tons, or 2 million barrels per day of oil equivalent, for the first time in 2019 and has since... Continue Reading →
(Reuters) Venezuela on Wednesday granted a 20-year license to British energy producer BP and state-owned National Gas Company of Trinidad and Tobago (NGC) to develop the Venezuelan side of a natural gas field that extends into the Caribbean country's waters. Venezuela, whose gas reserves are mostly untapped, has in recent years expanded offers for offshore... Continue Reading →
(OE) Shell Trinidad and Tobago, a subsidiary of Shell, has taken Final Investment Decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago. Manatee will allow Shell to competitively grow its Integrated Gas business by building on development efforts in the ECMA, one of... Continue Reading →
(Reuters) British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday. Washington last month did not renew a broad license that had allowed Venezuela to freely export... Continue Reading →
(Reuters) Oil major BP has paused discussions with Venezuela on the development of a gas project on the maritime border with Trinidad and Tobago following the expiration of a U.S. license to Venezuela in April, a company spokesperson said on Wednesday. BP this year conducted negotiations with Venezuela and Trinidad to develop the 1 trillion... Continue Reading →
(Reuters) - Colombian state energy company Ecopetrol (ECO.CN), opens new tab and its Brazilian counterpart Petrobras (PETR4.SA), opens new tab should work together on developing green hydrogen, Colombian President Gustavo Petro said on Wednesday after meeting Brazilian President Luiz Inacio Lula da Silva. "There is a project that I think we could look at through our two big oil... Continue Reading →
Brazil Energy Insight 