Guyanese officials have played down any threats to foreign investment while talking up the possibility of developing the country’s natural gas resources. At the Guyana Energy Conference and Supply Chain Expo last week, Vice President Bharrat Jagdeo told the audience, “I want to assure you that your investments will be safe.” The reassurances come amid…
Venezuela
Articles from Venezuela
Venezuela Touts Referendum to Annex Guyana Oil, Natural Gas Patch
Venezuela’s government said voters approved a plan to annex the oil and gas-rich Essequibo region of neighboring Guyana in a referendum held Sunday. Essequibo contains the offshore Stabroek block, where an ExxonMobil-led consortium has made numerous oil discoveries in recent years. The region, which was part of Venezuela during the Spanish colonial period, has been…
U.S. Grants Amended License as Shell, Trinidad and Tobago Pursue Venezuelan Natural Gas Deal
The island nation of Trinidad and Tobago is aiming to take a “significant step forward” in gathering Venezuelan natural gas to support domestic demand and LNG exports after the United States granted an amended license, according to Energy Minister Stuart Young. In a press conference late Tuesday, Young said he expects to complete negotiations with…
Shell, Trinidad and Tobago Looking to Finalize Venezuela Natural Gas Development
The island nation of Trinidad and Tobago is aiming to take a “significant step forward” in gathering Venezuelan natural gas to support domestic demand and LNG exports after the United States granted an amended license, according to Energy Minister Stuart Young. In a press conference late Tuesday, Young said he expects to complete negotiations with…
Trinidad Eyes Increased Global LNG Re-Exports with Venezuela Natural Gas
As the major LNG exporting country adapts to declining domestic production, the government of Trinidad and Tobago is exploring options to import natural gas from neighboring countries in order to re-export it to the global market, and in particular, Europe. One of the most viable options, according to Trinidadian officials, could be tapping ample Venezuelan…
Could Venezuela Help Ease the Global Natural Gas Shortage?
Venezuela could begin exporting commercial volumes of natural gas by way of neighboring Trinidad and Tobago within a relatively short timeframe if U.S. sanctions on Venezuela are relaxed, according to IPD Latin America’s David Voght, managing director. “Our assessment is that within three years, Venezuela could be producing enough to supply Trinidad’s Atlantic LNG Train…
Latin American National Oil Companies Booming, but Stymied by Politics
National oil companies (NOCs) in Latin America enjoyed record profits in the second quarter on the back of high oil and gas prices, but they remain under pressure from governments facing economic crises. The high oil and gas price environment “has come with a downside which is that in the domestic market, it is very…
Venezuela Poised to Provide U.S. Additional Barrels in Wake of Russia Oil Ban
In another sign of the dramatic overhaul in the world order, the U.S. government has reengaged with Venezuela’s President Nicolás Maduro to potentially undo oil sanctions on the Latin American nation. In an address on state television, Maduro called a weekend meeting at the Miraflores presidential palace with U.S. officials “respectful, cordial, and very diplomatic.”…
U.S. Oil Sanctions Pose Significant Upside Price Risk in 2019
After a sharp retreat down to the $40/bbl range in 2018, Brent crude oil prices are back above $60, and two key dates this spring could provide the momentum to drive prices even higher than currently forecast.
Schlumberger, BHGE, Halliburton Seeing ‘Subdued Growth’ in Latin America
Latin America weighed on the international earnings of the top three oilfield services (OFS) operators during the first quarter.