http://www.worldoil.com WorldOil Eco Oil and Gas announces acquisition of minority interest in Guyana subsidiary http://www.worldoil.com/news/2018/2/20/eco-oil-gas-announces-acquisition-of-minority-interest-in-guyana-subsidiary Eco (Atlantic) Oil and Gas Ltd., the oil and gas exploration company with licenses in highly prospective regions in South America and Africa, is pleased to announce that Eco (Guyana) Oil and Gas (Barbados) Ltd. (Eco Barbados), a wholly owned subsidiary of the Company, has agreed to acquire the remaining 6% interest in Eco (Atlantic) Guyana Inc. (Eco Guyana), following which Eco Guyana will become a wholly owned subsidiary of the company. Harvest Natural Resources sues ex-oil chief over bribe demands http://www.worldoil.com/news/2018/2/19/harvest-natural-resources-sues-ex-oil-chief-over-bribe-demands Former Venezuelan oil minister Rafael Ramirez, already accused of corruption by his own country, now faces a lawsuit from a Houston energy firm alleging that it lost almost half a billion dollars over its refusal to pay bribes for contracts. Venezuela plight has U.S. rushing for heavy UK crude http://www.worldoil.com/news/2018/2/15/venezuela-plight-has-us-rushing-for-heavy-uk-crude Oil refineries in the U.S. Gulf of Mexico are buying the most crude from the UK North Sea in more than seven years as they scramble to replace lost supplies from Venezuela. Venezuela's oil output crash is costly for U.S. refiners http://www.worldoil.com/news/2018/2/13/venezuelas-oil-output-crash-is-costly-for-us-refiners U.S. Gulf Coast refiners are paying the price for shrinking Venezuelan crude output. Turbodrills reduce well time and deliver lower cost per foot in hard and abrasive formations http://www.worldoil.com/magazine/2018/february-2018/features/turbodrills-reduce-well-time-and-deliver-lower-cost-per-foot-in-hard-and-abrasive-formations Downhole turbines are a solution in hard and abrasive formations, otherwise inaccessible with conventional motors. Echo Energy announces onshore Argentina work program http://www.worldoil.com/news/2018/2/12/echo-energy-announces-onshore-argentina-work-program Echo Energy plc, the South and Central American focused upstream oil and gas company, is pleased to announce its 2018 work program, onshore Argentina. Venezuela’s proposed 'petro' is a risky bet, with purported combination of cryptocurrency, oil reserves http://www.worldoil.com/blog/2018/02/09/venezuela-s-proposed-petro-is-a-risky-bet-with-purported-combination-of-cryptocurrency-oil-reserves As the buzz around cryptocurrencies begins to reach a fever pitch, the Venezuelan government has announced a plan to release a new digital currency to help shore up its struggling economy. Aker Solutions wins services contract from Petrobras in Brazil http://www.worldoil.com/news/2018/2/8/aker-solutions-wins-services-contract-from-petrobras-in-brazil Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market. Venezuela oil sanctions more likely as Tillerson tours region http://www.worldoil.com/news/2018/2/7/venezuela-oil-sanctions-more-likely-as-tillerson-tours-region U.S. Secretary of State Rex Tillerson signaled the U.S. is closer to imposing sanctions on Venezuela’s oil sector, raising the pressure on President Nicolas Maduro as his talks with opposition leaders remained at an impasse. Total acquires exploration rights in the Guyana basin http://www.worldoil.com/news/2018/2/5/total-acquires-exploration-rights-in-the-guyana-basin Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block.