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Caribbean News


US should be ready if Petro Caribe tightens credit terms, study says

By Nick Snow, OGJ Washington Editor, Oil & Gas Journal, July 16, 2014 The possibility that Venezuela’s financial support for energy imports in the region could erode quickly makes it imperative for the Obama administration to adopt a wide range of policies to avoid an energy crisis in the Caribbean and Central America, a recent…

Uncertain Energy: The Caribbean’s Gamble with Venezuela

by the Atlantic Council, July 16, 2014 The Obama administration must quickly adopt a range of transformative policies to avoid an energy crisis in the Caribbean and Central America, given the possibility that Venezuela’s financial support for energy imports to the region could erode quickly, according to the Atlantic Council’s Adrienne Arsht Latin America Center’s…

Cuba takes more pragmatic oil search route?

by David Casallas, Business News Americas, July 14, 2014 Cuba’s second oil development program seems to focus more on the known than unknown, Cuban energy expert Jorge Piñón told BNamericas. The analyst highlighted the enhanced oil recovery (EOR) terms of an agreement signed between the island’s oil company Cupet and Russia’s Rosneft during President Vladimir…

Spain’s Repsol makes oil discovery in Trinidad and Tobago

by Sonya Dowsett, Reuters, July 3, 2014 MADRID, July 3 (Reuters) – Repsol has discovered an oil reserve estimated at 40 million barrels of oil equivalent in the waters off the Caribbean islands of Trinidad and Tobago, to the west of the island of Trinidad, the company said in a statement on Thursday. The reserve…

More Oil Drilling Near Cuba Raises Environmental Alarms In Florida

By William E. Gibson, Sun Sentinel-Washington Bureau, June 15, 2014 WASHINGTON Russia has agreed to plunge into the search for oil in deep waters between the shores of Cuba and Florida, renewing fears of a major oil spill and the potential for environmental disaster. With President Vladimir Putin looking on, Russian companies Rosneft and Zarubezhneft…

Leni’s Onshore Trinidad Well Finds Oil

By RigZone Staff, May 2nd 2014 Leni Gas and Oil reported Thursday that the first new development well, GY-664, on its Goudron field, onshore Trinidad, has encountered oil at between 571 feet and the current well depth of 1,110 feet. Combined pay intervals, so far, measure approximately 193 feet in the upper Goudron Sands. Leni…

Caribbean Rex Spuds Well at Cory Moruga Concession in Trinidad & Tobago

By  Rex International Holding Ltd, May 5th 2014 Rex International Holding Limited (Rex International Holding or the Company, and together with its subsidiaries, the Group), one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, announced Monday that its 64.17 percent-owned license-holding company Caribbean Rex Limited (Caribbean Rex), has…

Colombia court backs Santos in sea boundary dispute with Nicaragua

Reporting by Monica Garcia, Reuters, May 2nd 2014 May 2 (Reuters) – Colombia’s constitutional court ruled on Friday that applying a decision by the International Court of Justice (ICJ) that granted Nicaragua a disputed area of Caribbean waters could not take effect without a treaty between the countries. The court’s verdict upholds the position taken…

Venezuela to use St Eustatius terminal to load big tankers to Asia -PDVSA

By Marianna Parraga, Reuters,  April 25 2014 (Reuters) – Venezuela’s state-run PDVSA will use a terminal owned by U.S. firm NuStar Energy on the island of Saint Eustatius to store crude and load very large crude carriers (VLCCs) going to Asia, after deciding it will no longer rent a facility in the Bahamas, a PDVSA executive…

Exclusive: Venezuela PDVSA expands Caribbean storage, rents NuStar tanks

By Marrianna Parraga, Reuters, April 21st 2014 (Reuters) – Petroleos de Venezuela (PDVSA), which urgently needs space in the Caribbean to store its oil, has emerged as the renter of tanks owned by NuStar Energy (NS.N) on the island of Saint Eustatius, where the Venezuelan state-run company will blend crudes, sources close to the transaction…

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