Venezuela Oil and Gas News

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• In December 2023, the United Kingdom government announced a new package of actions to deliver on the government's manifesto affirmation to continue endowing the development of shale gas. The package comprises setting up a Shale Environmental Regulator and a new Planning Brokerage Service to focus exclusively on the planning process. 
• In August 2023, Falcon Oil & Gas and joint venture partner Tamboran Resources discovered a substantial potential presence of dry gas during drilling of the Shenandoah South 1H (SS1H) shale gas exploration well located in Australia’s Beetaloo sub-basin.
• In October 2022, Sinopec made a significant shale gas discovery in the Sichuan basin, paving way for it to establish 100 billion cubic metres per annum of gas production in southwest China.

• April 2023: Using domestically developed technology that utilizes cooking oil and oil-bearing plant seeds, a bio-jet fuel, commonly referred to as sustainable aviation fuel (SAF), is anticipated to obtain international certification this year. This certification would enable the SAF to be utilized in commercial flights within India. To facilitate the production of SAF, the Indian Institute of Petroleum (IIP), a laboratory under the Council of Scientific and Industrial Research (CSIR), has collaborated with prominent entities such as Boeing, Indigo, Spicejet, Air India, Vistara, Air Asia India.
• February 2023: Boeing has secured agreements to procure 5.6 million gallons (21.2 million liters) of blended sustainable aviation fuel (SAF) from Neste, the foremost producer of SAF globally. This procurement is aimed at supporting Boeing's U.S. commercial operations until 2023. These agreements mark a significant increase, doubling the company's SAF procurement compared to the previous year.

• May 2023: Rosneft, the Russian energy giant, announced its plans to collaborate with Indian state-owned refiners to establish a new refinery in India. This decision follows the adjustment of the proposed USD 44-billion refinery project on India's western coast by the country's state-run refiners.
• March 2023: Advanced talks were underway between the African Export-Import Bank (Afreximbank) and Senegal's sole oil refiner, Société Africainede Raffinage(SAR), to raise USD 500 million in syndicated funding for further renovating the aging refinery.

• February 2023: TotalEnergies announced that it is in the process of starting a multi-well appraisal and exploration drilling program in Namibia, following the Venus light oil discovery in Block 2913B located in the Orange Basin, southern Namibia. The ultra-deepwater Venus-1X exploration well was spud in December 2021 using the Maersk Voyager drillship.
• September 2022: With Petróleo Brasileiro S.A., Helix Energy Solutions Group, Inc. extended its well intervention charter and services contracts for two years for offshore Brazil's Siem Helix 2 well intervention vessel. The negotiated extension is expected to conclude in December 2024, directly following Helix's existing Petrobras contracts.

•  December 2022: ADNOC Offshore awarded two major software contracts to Dome Principals, Kappa, and Amarile. Kappa, a petroleum engineering software company, will provide ADNOC with different types of Reservoir Related Software Management Systems such as EMERAUDE,SAPHIRE, TOPAZ, etc. Amarile is a company helping Reservoir Engineers speed up and improve the quality of their field dynamic simulation workflow.
•  June 2022: CGG announced that the company secured a four-year contract extension for its dedicated reservoir services center for Petrobras in Rio de Janeiro, Brazil.

• In October 2022, State-run ONGC Videsh Ltd. (OVL) is planning to invest around USD 1 billion in a Brazilian offshore hydrocarbon block. OVL's decision to invest follows the declaration of commerciality (DoC) for the BM Seal-4 block. The block lies in the Sergipe Alagoas Offshore Basin in a 320 sq. km area.
• In November 2021, Petrobras announced plans to invest about USD68 billion to expand oil production during 2022-2026. The company is planning to put 84% of its investments towards oil and gas exploration and production.

• In November 2022, ExxonMobil Corp. closed a USD 407 million sale of its operations in Central Africa's Chad and Cameroon to London-listed firm Savannah Energy PLC. As per the deal, the British firm will take over Exxon's 40% indirect interest in the Chad-Cameroon export transportation system, a 1,081-km (672-mile) pipeline, and floating storage and offloading facility offshore in Cameroon. Savannah also operates in Nigeria and Niger.

In December 2022, the Venezuelan government and American oil company Chevron Corporation signed a contract to resume oil and gas operations in Caracas, Venezuela. This contract aims to continue with the production and development activities in the energy sector, framed within the constitution and the Venezuelan laws that govern oil activity in the country.

• In July 2022, CNG companies increased the price of CNG fuel by Rs 4 per kg in Mumbai, the 10th increase over 18 months. Furthermore, since February 2021, CNG's price has risen by 62%. In February 2021, the CNG prices were Rs 49.40 per kg and reached Rs 80 per kg in July 2022.
• In July 2022, the Ministry of Petroleum and Natural Gas & Housing and Urban Affairs commissioned 166 CNG stations. GAIL (India) Limited has set up these fueling stations and nine of City Gas Distribution companies in 41 Areas across 14 states.

• In May 2023, TechnipFMC got a contract from Equinor to provide riserless light well intervention (RLWI) services on the Norwegian Continental Shelf. The contract includes production enhancement, production data, and pre-plug-and-abandonment services with a time bond from 2024 to 2025, with options to extend for the three subsequent years.
• In March 2023, Petroleum Safety Authority Norway (PSA) consented Norske Shell to use the Island Constructor vessel for well intervention on the Knarr and Gaupe fields.