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(Reuters) - Guyana's government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali expects to hold talks with U.S.... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, regarding the news published in the media, confirms that it received, on 06/22/2022, a letter from the Special Secretary of the Treasury and Budget of the Ministry of Economy regarding the payment of dividends. The Company clarifies that, in its response, it informed that all the requests in the referred... Continue Reading →
Rystad Energy, an energy intelligence group, has revealed that Guyana’s burgeoning offshore oil and gas industry is poised to enter the big league with revenues set to break the $1 billion mark in 2022 and see a significant annual acceleration in 2030. This boost in revenue is powered by the Stabroek block, according to Rystad Energy’s research,... Continue Reading →
(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin. Rapid recovery in demand after pandemic lockdowns and a surge in energy prices driven by Russia's invasion of Ukraine have boosted profits for oil companies... Continue Reading →
Mexican national oil and gas company Pemex has taken over the ownership and operation of the FPSO operating on the second largest offshore oil complex in Mexico from Norway’s FPSO operator BW Offshore. BW Offshore revealed on Sunday that Pemex has assumed the ownership and operation of the FPSO Yúum K’ak’náab – known as El Señor del Mar (The Lord of the Sea) – with effect... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
(OE) CGX, a Toronto-based oil and gas firm focused on the Guyana-Suriname Basin, has secured funding for its next offshore exploration well in Guyana's Corentyne block by agreeing to farm out a portion of its interest to its partner Frontera. As part of the agreement, CGX will transfer 29.73% of its interest in the Corentyne... Continue Reading →
(Reuters) Schlumberger on Friday raised its annual revenue forecast, buoyed by higher demand for its oilfield services from producers looking to raise output as oil prices surged. Global crude prices hovered above $100 per barrel in the quarter, fueled by tight supplies following sanctions on major producer Russia and energy consumption returning to near pre-pandemic levels. Schlumberger's results... Continue Reading →
SBM Offshore is pleased to announce it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion. The project financing was secured by a consortium of 15 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become... Continue Reading →
(Reuters) - Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be a second-straight quarter of record-breaking profits, lifted by stellar refining margins and high oil and gas prices. A rapid recovery in demand following the end of pandemic lockdowns and a surge in energy... Continue Reading →
Brazil Energy Insight 