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(Reuters) - Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output. The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to... Continue Reading →
Singapore's Keppel Offshore & Marine has, via its subsidiary Keppel Shipyard, secured contracts worth around S$250 million (~USD180,4 million) for the integration of two Floating Production Storage and Offloading vessels (FPSO). Keppel Offshore & Marine, which is set to merge with Semcorp Marine, said Friday that the FPSO integration contracts were awarded by repeat customers, BW Offshore,... Continue Reading →
(Reuters) - Guyana has started discussions with Exxon Mobil Corp (XOM.N) to build a more than 120-mile (190-km) natural gas offshore pipeline, Natural Resources Minister Vickram Bharrat said on Tuesday at the Offshore Technology Conference in Houston. Guyana, a tiny South American country, is trying to build infrastructure including a gas-fueled power plant to develop its economy... Continue Reading →
Oilfield services giant TechnipFMC has secured an additional contract and received notice to proceed from ExxonMobil for its Yellowtail development in the Stabroek Block offshore Guyana. The newly announced, "significant" flexibles contract covers six risers that are qualified for high pressure and high temperature. For TechnipFMC, a “significant” contract is between $75 million and $250... Continue Reading →
Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia. The top U.S. oil producer tripled its buyback program, saying it will repurchase upto $30 billion in shares by the end of next... Continue Reading →
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. “We must have a major deepwater port to handle a Panamax” ship, President Irfaan Ali said today during an investment seminar... Continue Reading →
(Reuters) Exxon Mobil Corp on Tuesday said it found oil in three new wells drilled off the coast of Guyana, raising recoverable oil and gas potential from its discoveries to nearly 11 billion barrels. The discoveries continue a run of exploration successes that date to 2015, and lifts potential oil and gas volumes by nearly... Continue Reading →
(Reuters) - Guyana sold its first share of crude oil from the country's newest offshore production facility to Exxon Mobil (XOM.N) for about $106 million, the government said. One of South America's poorest nations, Guyana plans to use proceeds from oil in the short term to build roads, bridges, houses, gas-fired power plants and solar energy projects.... Continue Reading →
(WO) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in... Continue Reading →
Aiming to make full use of domestic and overseas financing channels, Chinese oil and gas giant CNOOC Limited has launched an initial public offering (IPO) on Shanghai Stock Exchange, raising about $4.4 billion. The company informed on Thursday it has been officially listed on the A-share market, building a platform for domestic and international capital... Continue Reading →
Brazil Energy Insight 