World Oil (Bloomberg) – A Colombian judge ordered Ecopetrol SA and Petroleo Brasileiro SA to halt the drilling of an offshore gas well in the nation’s Caribbean waters after an Indigenous community sought legal protection. The community in the area of Taganga, near the city of Santa Marta, claimed their consent should have been requested before the companies were allowed
Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. With over 10 years of experience, Parex is now the largest independent exploration and production company in Colombia. We are focused on delivering sustainable, conventional oil and gas production and growing
Oil Price Argentina’s market deregulation efforts are expected to raise the energy investments in the country by about $2.5 billion to $15 billion next year, Energy Secretary Eduardo Rodriguez Chirillo said at an industry event. The government of Argentinian President Javier Milei has pushed for new legislation, the so-called Large Investment Incentive Regime – or RIGI, by its Spanish initials – offering
World Oil (Bloomberg) – President Irfaan Ali raised estimates for Guyana’s yearly growth to 42.8% from a prior 34.8%, as he projects “ramped up” investments from the public and private sectors. The nation’s economy grew by 49.7% in the first half of 2024, with the oil sector accounting for 67% of that growth, Ali said Saturday on a live webcast.
World Oil (Bloomberg) – Ecopetrol SA expects offshore natural gas from Colombia to come online as soon as 2029, two years later than previously anticipated and not in time to curb a looming fuel shortfall. Colombia is set to face a gap between its domestic supply of natural gas and total demand beginning next year. The fuel gap of around
Yahoo Finance Trinidad and Tobago’s High Court reaffirmed on Thursday a decision recognizing U.S. oil producer ConocoPhillips’ arbitration claim against Venezuela, which could freeze the Caribbean country’s payments to its neighbor for joint natural gas projects. In late May, the court’s original decision opened the door for ConocoPhillips to enforce in that country a $1.33 billion claim against Venezuela for
Yahoo Finance (Bloomberg) — Off a busy pier in Namibia’s main port of Walvis Bay, the seeds of an economic boom are being planted. As workers heave fish from boats, or unload cargoes of sulfur and Congolese copper, a massive cylindrical drilling segment is hauled by extended trailer to a storage area. Between the more typical consignments of raw minerals
World Oil (WO) – On Monday, July 15, Reuters reported that Bolivian President Luis Arce announced the discovery of a 1.7 trillion cubic foot (Tcf) natural gas reserve near La Paz. Arce has reportedly said the field will have a market value of nearly $7 billion. This discovery, the largest since 2005, is expected to become the third-largest producing field
Oil Price Venezuela’s president, Nicolas, Maduro, has accepted a U.S. proposal for a new round of talks on local policies and the future of U.S. oil sanctions on Caracas. “I have received the proposal during two continuous months from the United States government to reestablish talks and direct dialogue,” Maduro said on Venezuelan television, as quoted by the Associated Press “After thinking
Oil Price The court officer who oversees the auction of Venezuela’s PDV Holding, the parent company of refiner Citgo Petroleum, has asked a Delaware court to postpone the hearing on the winning bids by two months until September 19, to have more time to evaluate the bids and negotiate a sales agreement. The deadline for submitting binding bids for Citgo’s
Yahoo Finance GEORGETOWN/HOUSTON – Guyana’s lucrative agreement with an ExxonMobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp. The trio’s combined net margin was 56%, greater than the 49% Nvidia earned in its most recent fiscal year. The Stabroek offshore
World Oil (Bloomberg) – An Argentinian oil union said it will hold a 48-hour strike to demand higher salaries, potentially affecting production at the Vaca Muerta shale patch. The boycott is set to begin at 8 a.m. local time Tuesday, the workers said in a post on X on Saturday. There has been “no concrete progress” on salary negotiations, the
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