Five countries in Latin America – Brazil, Colombia, Guyana, Mexico and Venezuela – look to boost production in 2023, but the lion’s share of the production will come from developments in exploration hotspots Brazil and Guyana.
Brazil’s oil regulator ANP auctioned four out of 11 blocks on offer to a small group of NOCs and IOCs focused on opportunities to extract low cost, low carbon intensity resources located offshore Brazil.
Prices for crude oil and natural gas are expected to decline in 2023 compared to 2022 according to forecasts from the Energy Information Administration, World Bank and other institutions.
Initial moves by Washington and Caracas in their geopolitical chess match led to the restart of negotiations between the ruling party and the opposition around a democratic solution to Venezuela’s political crisis and issuance of a license to allow Chevron Corp. to produce and lift its oil in Venezuela.
Wood Mackenzie’s “The Silver Linings Playbook” offers views from across the energy and natural resources sectors on five key developments that, despite the setbacks of the past year, are laying the foundations for the delivery of more reliable, affordable and sustainable energy.
New Jersey-based independent refiner PBF Energy Inc. said its board of directors has authorized the repurchase of up to $500 million of the company’s Class A common stock.
U.S. LNG remains in high demand in France, the U.K., the Netherlands and Spain, the top four destinations in September 2022 for cargoes, according to the U.S. Department of Energy.
Trinidad and Tobago, the Caribbean region’s premier natural gas producer, continues to see potential in its bread-and-butter LNG, ammonia and methanol exports but is looking to expand its low-carbon products.
The U.K.’s new young Prime Minister Rishi Sunak gave his first speech this week promising to fix mistakes by the former minister while saying he’ll again ban fracking.
Shareholders in Trinidad and Tobago’s four-train Atlantic LNG plant have agreed on a definitive restructuring arrangement which aims to secure the future of the plant.
