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(Reuters) Guyana expects to soon sign an oil production-sharing agreement with a consortium led by France's TotalEnergies will allow it to explore an offshore area, Energy Minister Vickram Bharrat told Reuters. Guyana is the world's fastest-growing oil-producing country and is on course to reach capacity of 940,000 barrels per day this year - nearly 1%... Continue Reading →
(Valor Feb. 20, 2025) With a debt of R$3.3 billion, Seacrest Petróleo filed for bankruptcy protection in the Court of Justice of São Paulo. The company is seeking to suspend collection proceedings and early maturity of the debt for a period of 180 days. The decision to file came after the company received requests for... Continue Reading →
Frontera Energy Corporation and CGX Energy have received a notice from the Government of Guyana for the cancelation of license for the Corentyne block offshore the South American country. According to the joint venture partners, Guyana has taken the position that the license, together with the petroleum agreement with the government, has terminated and that,... Continue Reading →
(offshore-energy.biz) Guyana’s Office of the Prime Minister has put its stamp of approval on planned budgetary allocations of $141.45 billion, which is anticipated to lend a helping hand in finishing important projects. As a result, this amount encapsulates a $51.2 billion investment to bolster the country’s flagship gas-to-energy (GtE) project. This sum makes up the lion’s share of a... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp's fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana. Its total production rose over 18% to 495,000 barrels of oil equivalent per day (boepd) in the quarter, boosted by a 7% increase in volumes in the Bakken shale... Continue Reading →
(Reuters) Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to "drill, baby, drill." Big Oil begins reporting fourth-quarter results this week, and outlooks for the coming year should reflect the dissonance between Trump's... Continue Reading →
(Reuters) A World Bank arbitration tribunal has dismissed a request by Venezuela to annul a $8.37 billion arbitration award to ConocoPhillips, clearing the way for the U.S. producer to reclaim compensation for the expropriation of its oil assets in the South American country. The International Centre for Settlement of Investment Disputes (ICSID) declared the expropriation... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on communication of June 6, 2024, with the objective of reaching a definitive, profitable and viable solution for the supply of fertilizers to the Brazilian market, informs that, under a Confidentiality Agreement signed on 10/21/2024, it is still under analysis with Unigel in relation to the contracts associated... Continue Reading →
(offshoreWIND.biz) Brazil’s President Luiz Inácio Lula da Silva has signed into law the bill recently passed by the Brazilian Senate that establishes regulations on allocating and permitting offshore wind development areas. The Brazilian president has vetoed provisions related to fossil fuels in the final version of the legislation which were added while the bill was... Continue Reading →
Seacrest Petroleo, an independent oil & gas production company with an integrated portfolio of onshore producing oil fields and export infrastructure onshore in Brazil’s Espírito Santo, has filed an arbitration request against Brazil’s state-owned oil & gas giant Petrobras over alleged subsea pipeline repair failures. Namely, a court in Rio de Janeiro announced on December 27,... Continue Reading →
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