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(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
(Reuters) Guyana could bank about $1.25 billion this year from the sale of oil as its share of offshore production and royalties, up 30% from a prior estimate, the government's finance ministry said over the weekend. Historically one of South America's poorest nations, Guyana this year expects proceeds from oil discoveries off its coast to jump on... Continue Reading →
Maritime classification society The American Bureau of Shipping (ABS) on Monday launched detailed requirements for greener offshore operations in what it said was the first sustainability guide to target the offshore industry. "Developed by working with major offshore industry clients, ABS today launches a revised sustainability guide expanded with offshore asset compliance requirements.The updated ABS Guide for... Continue Reading →
(PN) The board of the National Petroleum Agency (ANP) approved the inclusion of 218 blocks from the Equatorial Margin in the Permanent Offer system, under the concession regime. The added blocks are located in the Foz do Amazonas, Pará-Maranhão, Barreirinhas, Ceará and Potiguar basins, in deep and ultra-deep water marine environments. According to the ANP,... Continue Reading →
(Reuters) - Ever since Exxon Mobil (XOM.N) found vast deposits of oil off Guyana's coastline in 2015, government leaders have pledged that black gold would transform the fortunes of one of South America's poorest countries. This year alone, the economy should grow 48%, the fastest rate on the planet, according to the World Bank. But managed poorly,... Continue Reading →
China's CNOOC Ltd more than doubled its first-half profit helped by higher oil and gas prices, the offshore oil and gas producer reported on Thursday. Interim net income rose 116% to 71.89 billion yuan ($10.50 billion) while revenue rose 75.6% to 176.7 billion. Oil prices have soared this year, with prices coming close to $147... Continue Reading →
Guyana's president Irfaan Ali on Monday visited ExxonMobil's Liza Unity FPSO - Guyana's second FPSO in production - where he praised the Guyanese crew aboard. According to Guyana's Department of Public information, he told the Guyanese crew on board the Liza Unity that they are among the “trailblazers” responsible for setting the mark in the oil and gas... Continue Reading →
(OE) Oslo-listed marine seismic survey firm Magseis Fairfield has signed a contract with ExxonMobil for a large Ocean Bottom Node (OBN) project offshore Guyana, where ExxonMobil has so far discovered 11 billion barrels of oil. The project is expected to be conducted using our ZXPLR technology and last for a minimum of 14 months. “We... Continue Reading →
ODITC, a joint venture (JV) between Guyana’s Orinduik Development Incorporated, Windsor Technologies, and 3t EnerMech, has become the first organization in the country to be approved to deliver OPITO accredited training to oil and gas workers. The 3t EnerMech Guyana Training Centre of Excellence, developed by ODITC, has been established to support the region’s growing need... Continue Reading →
ExxonMobil has hired Acorn International, an environmental and risk management consultancy with offices in Boston and Houston, to perform an Environmental Impact Assessment (EIA) and lead the public consultation program for the Uaru Project, Exxon's fifth offshore development project in Guyana. The proposed project, located in the eastern portion of the giant Stabroek Block, where... Continue Reading →
Brazil Energy Insight 