(OilPrice.com, Haley Zaremba, 17.Jul.2018) – In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nation’s economy continues to crumble amid sanctions, political strife, and low oil prices, the Venezuela’s all-important oil production is plummeting. In fact, last […]
Tag: Caribbean
NGC loses SIS challenge in Privy Council
(Trinidad and Tobago Newsday, 16.Jul.2018) – State-owned National Gas Company has lost an appeal in its multi-million claim against Super Industrial Services (SIS) and another company as the Privy Council today dismissed an appeal in which it challenged a decision to strike out its lawsuit on the ground that it […]
Guyana’s Doors Open for Caricom Investors
(CMC, 13.Jul.2018) – President David Granger has extended an invitation to Caricom member states to invest in the oil sector and other sectors of Guyana. Speaking on the sidelines of the 39th Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom) here recently, Granger said, “The […]
EIA Publishes Updated Venezuela Country Report
(EIA, 21.Jun.2018) – Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil, reported […]
Jamaica Encouraged by 3D Oil, Gas Surveys
(Amsterdam News, Bert Wilkinson, 24.May.2018) – Jamaica is fancying its chances of becoming the latest Caribbean Community nation after Guyana to find commercial quantities of oil and gas in the wake of encouraging indications from the most recent round of offshore surveys. Jamaican authorities said on the weekend that they […]
ECLAC Ssays Venezuela’s Economic Activity to Fall 8.5% in 2018
(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) – The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic activity in troubled Venezuela will contract 8.5% in 2018. Gross domestic product or (GDP) estimates for other important countries and […]
Venezuela Never Closed Its Doors on T&T Nationals: Lawmaker Says
(Energy Analytics Institute, Ian Silverman, 30.Apr.2018) – Venezuelan lawmaker JosĂ© Brito wrote in a Twitter post that the OPEC country never closed its doors to the hundreds of Trinidadian nationals that left their twin-island nation to seek opportunities in Venezuela. When Trinidad’s Prime Minister Keith Rowley says in regards to […]
Barbados: Energy Boost
(Barbados Today, Luova Labs, 20.Feb.2018) – Government’s spokesman on energy Senator Darcy Boyce has said that independent producers of renewable energy would likely be able to supply more energy to the national grid and have a fixed price for doing so in a matter of months. In fact, Boyce, the […]
The Caribbean Poised To Become Major Oil Region
(OilPrice.com, Haley Zaremba, 22.Aug.2017) – In the future, we may be hearing about the Caribbean a whole lot more when talking about oil and gas. Previously, the area was virtually off the map for the fossil fuels industry, despite its proximity to the vast oil reserves of Venezuela. Now, the […]
Mariscal Sucre Has 600 MMcf/d Production Potential
(Piero Stewart, Energy Analytics Institute, 1.Feb.2017) – Venezuela’s Mariscal Sucre natural gas project offshore has a production potential of 600 million cubic feet per day. The company plans to use this gas production to supply export markets in Colombia, Ecuador, Central America and the Caribbean, PDVSA announced in an official […]
PetroCaribe Evaluates Creation of JV Company to Distribute Gas
(Energy Analytics Institute, Piero Stewart, 27.May.2016) — PetroCaribe member countries evaluated the creation of a joint-venture company that would distribute Venezuelan gas to them, reported Venezuela’s news agency AVN, citing PDVSA President Eulogio Del Pino. “The proposal – after looking at the quantity of reserves that we have in the […]
Venezuela, Trinidad Sign Energy-Related Deals
(Energy Analytics Institute, Pietro D. Pitts, 23.May.2016) – Venezuela’s President Nicolas Maduro and Trinidad and Tobago’s Prime Minister Keith Rowley were both present during an energy-related signing ceremony in Port of Spain between the two countries. Trinidad’s Minister of Energy and Energy Industries Nicole Olivierre signed the agreements for her […]
MEO Australia Signs Deal for Cuba Block 9
(MEO Australia Ltd., 3.Sep.2015) – MEO Australia Limited executed the Cuba Block 9 Production Sharing Contract (PSC) with the national oil company Cuba Petroleo Union (CUPET) in a ceremony in Havana, Cuba. The ceremony was attended by dignitaries including Juan Torres Naranjo, general director of CUPET and representatives of MEO, […]
Ecopetrol Announces Caribbean Deepwater Find
(Ecopetrol S.A., 28.Jul.2015) – Ecopetrol informs that at a depth of 3720 meters, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. This discovery proves the geological model proposed for an unexplored area with high hydrocarbon potential. Kronos-1 is located in block Fuerte Sur, […]
Venezuela Opening Ops to Nicaragua, Caribbean
(Energy Analytics Institute, Piero Stewart, 9.Mar.2015) – “We are advancing with Nicaragua and opening up possibilities to the rest of the Caribbean,” said Venezuela’s Oil Minister Asdrubal Chavez on state television, referring to Nicaragua and other Petrocaribe member countries participating in activities in Venezuela’s Orinoco heavy oil belt or Faja. […]
Maduro Says Caribbean Must be Together
(Energy Analytics Institute, Piero Stewart, 6.Mar.2015) – Venezuela’s President Nicolas Maduro says the Caribbean region has to always be together. “Petrocaribe is our road of respect, solidarity, brotherhood, the union to march together. The Caribbean has to always be together,” said Maduro during a broadcast on Venezuelan state television. ***
Honduras Awaits Initial PetroCaribe Shipments
(Energy Analytics Institute, Ian Silverman, 13.Sep.2013) – Honduras does not expect to receive its first shipment of oil from Venezuela under PetroCaribe until Dec.2013, reported El Universal, citing Honduras’ Vice Minister of Commerce Melvin Redondo. Venezuela will not be ready to ship the oil as originally planned due to the […]
Q&A with Oil Outlook President Carl Larry
(Energy Analytics Institute, Pietro D. Pitts, 9.Aug.2013) – Oil Outlook President Carl Larry spoke with Energy Analytics Institute in a brief interview from Houston, Texas. What follows are excerpts from the brief interview. EAI: Are US refiners benefiting from PDVSA’s refinery problems in Venezuela? Larry: We have seen production in […]
Q&A with Tissot Associate’s Roger Tissot on Venezuela, Ecuador and PetroCaribe
CARACAS, VENEZUELA (By Energy Analytics Institute, Pietro D. Pitts, 19.Jul.2013) – Tissot Associates Consultant Roger Tissot spoke with Energy Analytics Institute in a brief interview from Canada. What follows are excerpts from the brief interview.