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Former Guyanese housing minister Irfaan Ali was sworn in as president of the newly oil-producing South American country on Sunday, after he was declared winner of a disputed March 2 election following a recount. Preliminary recount data released in June showed Ali, a member of the opposition People's Progressive Party (PPP), had won the initial... Continue Reading →
Suriname's state-owned oil company Staatsolie is considering farming into an offshore oil block where Apache Corp and France's Total SA have announced a third major discovery, an executive said on Sunday. Staatsolie has the right to a stake of up to 20% in the 1.4 million-acre Block 58, where Apache and Total last week announced... Continue Reading →
July 29, 2020 Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 07/21/2020, informs that the best estimate of the amounts to be recovered for the period from October 2001 to June 2020, considering the current calculation assumptions and the documental surveys, is R$ 16.9 billion, before the tax effects, which will... Continue Reading →
The U.S. oil major ExxonMobil has recently discovered two more high-quality oil reservoirs offshore Guyana, Hess, the company's partner in the prolific Stabroek block said Wednesday. To remind, back in January, ExxonMobil said it had struck its 16th oil discovery in the offshore block in Guyana, boosting recoverable resource base in Guyana to more than... Continue Reading →
U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across the world due to coronavirus lockdowns and a price war between the world's top producers... Continue Reading →
A worsening political crisis risks slowing the pace of oil sector growth in the small Latin American nation Any hope that Guyana’s recent election would settle the country’s broiling political turmoil always looked optimistic. And so it has proved. Four months on from the poll, neither of the two main parties has conceded defeat and the impasse threatens... Continue Reading →
Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future. Alastair Routledge takes over after the company, as part of a consortium with Hess Corp... Continue Reading →
Energy industry analysts seem to agree that the future is bright, or at least brighter, when it comes to the contracting activity for the floating production systems, from 2021 onwards after COVID-19 and low oil prices hit the market in 2020. Norway's Rystad earlier this week said that, apart from the Sangomar FPSO ordered by... Continue Reading →
Marine robotics company Ocean Infinity has completed its survey project for ExxonMobil, within the enormous Stabroek block offshore Guyana where the oil giant has over the recent few years discovered more than 8 billion barrels of oil. The project, announced in February, involved acquiring high-resolution geophysical and geotechnical data through the simultaneous deployment of multiple Autonomous... Continue Reading →
Exxon Mobil Corp. resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics. Two of Exxon’s four drillships went back to work, according to data published Friday by Baker Hughes Co. The company later confirmed that the Stena Carron and Noble... Continue Reading →
Brazil Energy Insight 