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(Reuters) The U.S. will not renew a temporary license that widely eased sanctions on Venezuela's oil and gas sector unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year, a State Department spokesperson said on Monday, three days before the license is to expire. The U.S. has been... Continue Reading →
(Reuters) BP is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, according to three people familiar with the talks. BP is Trinidad and Tobago's largest natural gas producer with an output of just over 1.3 billion cubic feet per day (bcfd), most... Continue Reading →
(Reuters) - Oil major Shell (SHEL.L), opens new tab is seeking a long-term license from the U.S. before making a final investment decision on the Dragon natural gas project in Venezuela, four people familiar with the matter said. The Dragon field lies in Venezuelan waters near the maritime border with Trinidad and Tobago, and holds up to... Continue Reading →
(Reuters) - BP PLC (BP.L), opens new tab said on Thursday it was in talks with the Venezuela and Trinidad and Tobago governments to develop a gas field. BP has been seeking to increase its natural gas production in Trinidad to feed into Atlantic LNG's liquefied natural gas export facility. BP's gas output has fallen in the... Continue Reading →
(Bloomberg) – Venezuela said it would respond in a “forceful” way to Exxon Mobil Corp.’s plans to drill in the disputed Essequibo region off the coast of Guyana. Venezuelan Defense Minister Vladimir Padrino said that Exxon’s plan to drill exploration wells in the region will be met with a “proportional, forceful and rightful response,” according to a... Continue Reading →
(Reuters) - Brazil's state-run Petrobras (PETR4.SA), opens new tab is in talks with other national oil companies in China, India and the Middle East, including Kuwait Petroleum and Qatar Energy, to collaborate on energy projects, its chief executive said on Wednesday. The company is also keen to work with neighbouring Venezuela, Jean Paul Prates told Reuters on... Continue Reading →
(Bloomberg) – Venezuelan oil production at a four-year high is expected to decline quickly if the US follows through on threats to reinstate sanctions on the nation. The Biden administration on Tuesday said sanctions relief to Venezuela’s oil and gas sector will be allowed to expire on April 18, unless the government holds free and... Continue Reading →
(Argus) Brazilian and Guyanese medium sweet grades have replaced Russian Urals in Europe and are unlikely to face competition from other crude producing Latin American countries, according to Gustavo Hooper, head of trading and shipping at Brazilian independent Prio. "After the changes with the Russia and Ukrainian war, China lost a bit of the market... Continue Reading →
(Reuters) - Suriname should boost incentives for energy companies looking to develop oil and gas discoveries, said Zamri Baseri, head of Malaysia's Petronas (PETRA.UL) in the South American country. Baseri did not specify the incentives his company is looking for, but lower royalties and taxes, or commercial incentives often hasten investment decisions by energy companies.... Continue Reading →
(Reuters) Venezuelan President Nicolas Maduro on Thursday said the deployment of a British warship to waters off the coast of Guyana breaches the "spirit" of an agreement reached between Venezuelan and Guyanese authorities. Guyana and Venezuela agreed earlier this month to avoid the use of force and avoid increasing tensions in the long border dispute... Continue Reading →
Brazil Energy Insight 