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(Reuters) - Frontera Energy (FEC.TO) and its unit CGX Energy (OYL.V) expect to complete an analysis in the next two to three months of the Wei-1 oil well in Guyana before deciding whether to upgrade an exploration license to its development phase, Frontera said on Friday. The Frontera-CGX group could become the next oil consortium to advance an oil... Continue Reading →
(Reuters) Guyana’s parliament on Thursday passed long-awaited oil legislation that grants the natural resources minister extensive power over its multi-billion-dollar oil industry. The new rules will be applied to future projects in the South American country, including from an oil blocks auction scheduled for the fourth quarter. A group led by Exxon Mobil Corp XOM.N... Continue Reading →
Solstad Offshore has been awarded two contracts worth $100 million in total from Brazilian clients. The Norwegian offshore vessel owner said that its construction support vessel, Normand Pioneer, won an extension of its charter contract with the Brazilian oil company PRIO for a period of 18 months to August 2025. The vessel will support PRIO's... Continue Reading →
Wilson Sons, a leader in port and maritime logistics in Brazil, recorded profit of R$197 million in the first half of this year, 23% higher than the same period in 2022. In the second quarter of 2023, the company's profit was R$111 million, an increase of 583% compared to the same period last year. Net... Continue Reading →
(epbr) After taking over the operation of the Potiguar Cluster in June, 3R Petroleum is now seeking partnerships and divestments of some assets that make up the industrial asset of Guamaré (RN), said this the company's financial director, Rodrigo Pizarro . The executive also ruled out, for the time being, plans to increase the capacity... Continue Reading →
(Reuters) - Colombia's majority state-owned oil company Ecopetrol on Thursday reported a new oil and gas discovery in Putumayo province. The Alqamari-2 well was drilled to a depth of 9,287 feet and saw daily flow of 1,800 barrels of oil, Ecopetrol said in a statement. The oil is a light hydrocarbon. The rate of associated... Continue Reading →
(OET) UK-headquartered oil and gas company Tullow Oil has set the wheels in motion to sell its entire interest in Tullow Guyana (TGBV), which includes the Orinduik licence, to Eco Guyana Oil and Gas (Barbados) Limited, a subsidiary of Eco (Atlantic) Oil & Gas, in exchange for a combination of upfront cash and contingent consideration.... Continue Reading →
(Reuters) - Dutch oil and gas services company SBM Offshore (SBMO.AS) reported on Thursday half-year earnings before interest, tax, depreciation and amortisation (EBITDA) that missed consensus estimates and fell below the year-earlier level. It partly attributed the drop to ongoing supply chain challenges and a reduced contribution from the Almirante Tamandaré floating production, storage and offloading (FPSO)... Continue Reading →
(Reuters) On Wednesday, Japanese oil and gas explorer Inpex raised its full-year net profit forecast by 7% and announced measures to boost the company's value and shareholder returns, including a dividend increase and share buyback. To address the country's number of undervalued stocks, the Tokyo Stock Exchange at the end of March called on companies... Continue Reading →
(Reuters) Guyana and the Dominican Republic on Tuesday signed a memorandum of understanding to cooperate on recruiting companies to build a 50,000-barrel-per-day refinery in Guyana that would tap the country's oil wealth. Any project would be at least 51% owned by the Dominican Republic government, according to the terms of the preliminary agreement, which was... Continue Reading →
