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(oilnow.gy) Since 2015, Guyana has emerged as the global leader in oil discoveries, with unmatched volumes boosting its position in the energy sector, according to Rystad Energy. The Norway-based intelligence company ranked Guyana against 19 other countries. They estimate that Guyana’s recoverable resource is over 13 billion barrels of oil equivalent (boe) since the initial... Continue Reading →
(offshore-energy.biz) Allseas has completed its offshore pipelay commitments for a 700-kilometer-long natural gas pipeline in Mexico ahead of schedule, for its client TC Energy. The Southeast Gateway 36-inch natural gas pipeline runs south along the coast from Tuxpan through the Gulf of Mexico to Coatzacoalcos and Dos Bocas. Allseas delivered the pipeline in 11 months, which... Continue Reading →
(Reuters) - Guyana's oil exports rose 54% last year to some 582,000 barrels per day (bpd), fueled by European refiners' demand for easy-to-process sweet crudes to replace some Middle Eastern grades, according to traders and shipping data from financial firm LSEG. Since it started exporting oil in early 2020, the burgeoning oil nation has emerged as the... Continue Reading →
(OE) McDermott has been awarded a front-end engineering design (FEED) contract by Repsol Exploración México for the Polok and Chinwol field development project in the Gulf of Mexico. Under the contract scope, McDermott will provide comprehensive FEED services for the project's engineering, procurement, construction, and installation (EPCI) of subsea, umbilicals, risers, and flowlines (SURF). "Our... Continue Reading →
(Reuters) - Mexican President Claudia Sheinbaum said on Thursday that the debt burden accumulated by state energy company Pemex with suppliers would be reviewed and various payment mechanisms are being studied and refined. Despite efforts to reduce debt under Sheinbaum's predecessor Andres Manuel Lopez Obrador, the company remains one of the world's most indebted energy... Continue Reading →
(Reuters) - Mexican state-owned oil company Pemex reported a deeper $8.2 billion third-quarter net loss on Tuesday, hurt mostly by a weaker exchange rate even as it benefited from support from the country's new government. The company, in a filing with the Mexican stock exchange, posted a loss of around $4.5 billion in the third... Continue Reading →
By Alex Kimani (oilprice.com) Over the past two decades, the shale revolution largely pushed aside interest in the exploration and development of offshore hydrocarbons. The combination of hydraulic fracturing and horizontal drilling enabled the United States to significantly increase its production of oil and natural gas from tight oil formations, with the Shale Patch accounting for 36% of... Continue Reading →
(OE) Thailand’s state-owned oil and gas company PTT Exploration and Production (PTTEP) has divested its entire interest in Mexico Block 29, located in deep waters of the Salina Basin offshore Mexico, to the operator Repsol, which has increased its working interest in the block to 46.67%. On September 17, 2024, PTTEP Mexico E&P Limited, a... Continue Reading →
(offshore-energy.biz) Many factors, including roadblocks, play a role in oil and gas extraction and development around the globe. Some of these are region-specific while others tend to be a global problem. Mexico’s five largest upcoming hydrocarbon projects have not managed to escape these, thus, they are also facing such technical and other issues. The Latin... Continue Reading →
(offshore.mag.com) Harbour Energy expects to complete its acquisition of Wintershall Dea’s global E&P portfolio in early September. The process of satisfying the conditions to completion has been advancing, including the recent receipt of Mexico regulatory consents. Earlier this month, the Danish Energy Agency also approved the indirect transfer of interests in four licenses that had been granted to... Continue Reading →
Brazil Energy Insight 