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Feb 17 (Reuters) - The tiny oil-producing nation of Guyana, already one of the world's fastest-growing economies, has a window of opportunity for more expansion amid ongoing U.S. activity in neighboring Venezuela, geopolitical and oil experts said ahead of the Guyana Energy Conference. That growth potential will take center stage at the four-day event beginning... Continue Reading →
12 February 2026 – Jumbo Offshore has completed mooring pre-installationactivities for the FPSO Errea Wittu for Exxon Mobil Guyana Ltd. at Uaru Field,Stabroek Block, Offshore Guyana, on behalf of Modec. The scope of work included theinstallation of suction anchors and the pre-lay of mooring lines in preparation forFPSO hook-up.Jumbo Offshore performed installation engineering, procurement, mobilisation... Continue Reading →
Feb. 11 (oilnow.gy) MODEC has completed the first steel cutting for the Hammerhead floating production, storage and offloading (FPSO) vessel more than a month ahead of schedule. MODEC made the announcement today via LinkedIn. The steel cut ceremony marked the start of fabrication at BOMESC Offshore Engineering Company Limited in Tianjin, China. The FPSO is being... Continue Reading →
Feb 11 (Reuters) - TotalEnergies will halve share buybacks in the first quarter, it said on Wednesday, as low oil and gas prices negated soaring fourth-quarter profit from refining fuels and proceeds from renewable assets stake sales. The French oil major's fourth-quarter adjusted net income fell to $3.8 billion (3.2 billion euros) from $4.4 billion a... Continue Reading →
Feb 9 (Reuters) - Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say. For years, oil majors have been restrained in topping up reserves,... Continue Reading →
Feb 8 (Reuters) - Namibia will not recognise the purchase of offshore stakes in the Luderitz Basin announced last week by TotalEnergies and Petrobras until the oil companies follow the proper route for approval, government officials said on Sunday. Jonas Mbambo, a spokesperson for the presidency, confirmed that until a formal application is submitted and the prescribed... Continue Reading →
Feb. 6 (OE) BW Energy has informed that one of the existing joint venture partners in Angola's offshore blocks 14 and 14K has indicated its intention to exercise pre-emption rights in relation to the previously announced acquisition agreement. BW Energy and its partner Maurel & Prom had been notified of the move by a joint... Continue Reading →
Feb 5 (Reuters) - Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its bumper share buyback programme. Shareholders of oil majors have become used to huge buybacks, but lower oil and gas prices ahead of an expected crude and liquefied... Continue Reading →
Feb. 4 - SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO ONE GUYANA, ahead of the maximum lease term which would have expired in August 2027. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to... Continue Reading →
Feb 4 (Reuters) - Chevron and TotalEnergies are among the oil majors snapping up offshore blocks in West and Southern Africa as compelling geology, regulatory reforms, and the need to restock spur a hunt for the next Brazil. Companies are restocking their oil and gas assets given prospects for fossil fuel demand to stay higher for longer than predicted just a... Continue Reading →
Brazil Energy Insight 