Uruguay Fails to Attract Bidders for Offshore Oil

As global oil prices rise, so too has interest in offshore drilling with countries like Brazil and Guyana attracting a lot of attention. However, the renewed interest seems to be passing over Uruguay which failed to attract bids for any offshore blocks.

Venezuela Oil Production Falls Again in March

Venezuela oil production fell last month as global oil prices continue to rise, according to OPEC’s April report. Other nations in the region like Brazil and Guyana are taking advantage of higher energy prices by investing in new offshore production.

Rosneft Claims Venezuela Pays Its Debts

Rosneft, a Russian state-controlled oil company, says that Venezuela is repaying its debt on schedule. Rosneft is a major investor in the Venezuelan energy sector and the state-owned oil company, PDVSA, and the Russian government has been integral in propping up the… Read More ›