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Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil. Between 2019, when oil production began in the... Continue Reading →
Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO) vessel.Mr Marlin Khiew, Executive Vice President, Oil & Gas (Americas) of Seatrium said, "We arehonoured... Continue Reading →
(OE) ExxonMobil and its partners have made an oil discovery at Block 15 offshore Angola, while drilling the exploration well located in the Kizomba B development area. The discovery was made while drilling the Likembe-01 well in Block 15, operated by ExxonMobil, in partnership with Azule Energy, Equinor and Sonangol. Drilled between the months of... Continue Reading →
(OilNow) Øivind Tangen, Chief Executive Officer of SBM Offshore said that the company’s latest award for the Jaguar floating production, storage and offloading (FPSO) vessel is its first to be based on a sale-and-operate model. Jaguar is its fifth for ExxonMobil Guyana. The other orders were based on a lease-and-operate model. In the company’s latest... Continue Reading →
(Reuters) BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased. The London-based company held its dividend at 7.27 cents per share and maintained the rate of its share buyback... Continue Reading →
(Reuters) - Shell (SHEL.L), opens new tab reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose. The company said it will buy back a further $3.5 billion of its shares over the next three months, at a similar... Continue Reading →
(Reuters) Exxon Mobil Corp will shut down two offshore oil production projects in Guyana for two weeks each, between July and August, to connect a natural gas pipeline, the company's country head Alistair Routledge told reporters in Georgetown on Tuesday. The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the... Continue Reading →
(Reuters) - French energy giant TotalEnergies (TTEF.PA), opens new tab posted a 22% decline in first-quarter earnings due to a steep decline in profits from natural gas, while warning that rising crude oil prices could weigh on refining margins in coming months. Adjusted net income for the three months to end-March came to $5.1 billion, the company... Continue Reading →
(Reuters) -Oil giant Chevron Corp beat estimates for first-quarter profit on Friday as higher production volumes in the U.S. helped offset a hit from weak natural gas prices and fuel margins. The second largest U.S. oil producer posted a profit of $5.5 billion in the quarter ended on March 31, down from $6.57 billion, or... Continue Reading →
(Reuters) - Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources,... Continue Reading →
Brazil Energy Insight 