Category: Offshore

Continental Resources signed a memorandum of understanding with Petróleos de Venezuela (PDVSA) on September 16 to operate and develop the Ayacucho 2 Block in Venezuela’s Orinoco Belt, marking the Oklahoma independent’s first move into the country and adding another U.S. operator to a rapidly expanding slate of post-sanctions oil deals.

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The MOU is not a final development contract. Continental and PDVSA said they intend to convert it into a long-term Contrato de Participación Productiva (CPP) in the coming weeks. Once that agreement is signed, Continental would operate the block with a 100% working interest. The announcement was made in Houston during the G20 energy ministers […]

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The White House’s August 31, 2026 fact sheet details a landmark oil agreement that grants North American Blue Energy Partners (NABEP) 100-year concessions on 17 Venezuelan fields holding roughly 65 billion barrels of proven reserves.

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The U.S. government receives a 35% equity stake in NABEP’s corporate parent via the Department of War’s Office of Strategic Capital, a guaranteed right to buy 20% of offtake at production cost, and a right of first refusal on the remaining 80%. U.S. governance rights include veto power over board appointments, a requirement that a […]

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Kathryn Porter sounds the practical alarm on the UK Grid

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Energy consultant Kathryn Porter, founder of Watt-Logic, has issued one of the clearest practical warnings yet about the United Kingdom’s electricity system. In her recent Daily Mail piece, she describes a nightmare scenario in which the National Grid collapses under the weight of Net Zero policies: supply-demand imbalance triggers cascading failures, plunging homes, businesses, hospitals, […]

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Britain Doubles Down on Wind by Moving to Floating Wind Farms for More Expensive Energy

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Britain is running out of shallow waters suitable for fixed-bottom offshore wind turbines and is now pivoting aggressively to floating wind farms in deeper seas around Scotland, Wales, and Cornwall. According to recent reporting, the government aims for roughly 3,000 new floating turbines over the next 10–15 years (about 500 by 2030), adding around 30 […]

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Australia’s Asia PowerLink Project is Destined to be the Greatest Energy Failure in History

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Australia’s Australia-Asia PowerLink (AAPowerLink), the flagship project of SunCable (now controlled by Mike Cannon-Brookes’ Grok Ventures), is sold as the pathway to making Australia a “Green Energy Superpower.” It promises the world’s largest solar array, the world’s largest battery, and the world’s longest subsea HVDC cable—exporting firmed renewable power from the Northern Territory’s Barkly region […]

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