Colombia imposes stricter rules on oil investors, leading to Shell's withdrawal from offshore gas projects, while Big Oil boosts presence in Guyana and Suriname.
1 report, 1 independent
Updated Aug 8
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What happened
Colombia imposes stricter rules on oil investors, leading to Shell's withdrawal from offshore gas projects, while Big Oil boosts presence in Guyana and Suriname.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Guyana is seeking to enhance its energy security by focusing on crude oil refinement.Sub-event
- Colombia's National Hydrocarbons Agency released a report on oil reserves, noting that Petro's reforms have deterred investment in the oil industry.Sub-event
Colombian oil regulations lead to Shell withdrawal, contrasting with Big Oil expansion in Guyana and Suriname.1 source
Keep exploring
The entities involved
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Colombia
country in South America
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Shell
British multinational oil and gas company
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Guyana
country in South America
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Suriname
country in South America
Nothing else this week.
Related events
- ExxonMobil and Brookfield Renewable are expanding globally, increasing production in Guyana and Africa, while monitoring Brent crude prices and Middle East volatility.
- Exxon leads a consortium with CNOOC to begin oil production in Guyana.
- Guyana and ExxonMobil report production milestones, alongside military cooperation talks with Brazil.
- Global energy markets show varied trends, with higher offshore activity supporting growth in Guyana, while conflict-related disruptions reduce Middle East revenue.
- ExxonMobil reports strong production in Guyana fields, noting that the Beaumont refinery expansion contributed to increased output.
Coverage
Newest first; wire copies grouped- Oilprice.comBig Oil Bails on Colombia’s Offshore Oil and Gas Provinces Major international oil and gas companies have scaled back or quit operations in Colombia’s offshore exploration and production areas, as th