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(Reuters) Suriname's Staatsolie needs to secure an unprecedented $1.5 billion in bank financing this year to ensure it can participate in the country's Gran Morgu energy project, the head of the state-owned company told Reuters. The project, led by TotalEnergies, is Suriname's first major offshore project. The country has discovered reserves that may allow it... Continue Reading →
Petrobras expects to reach a production of 1.5 million barrels of oil per day in the Búzios field in the near future. The information was given by the CEO of the state-owned company, Magda Chambriard, during a Transpetro event. According to her, the increase in production will be supported by a robust hiring of support... Continue Reading →
(Reuters) The government of Trinidad and Tobago and Woodside Energy have reached an initial agreement on the commercial terms for developing the company's Calypso deepwater gas discoveries, moving the project one step closer to a final investment decision, according to a Woodside executive and three people with knowledge of the talks. The Caribbean country, Latin... Continue Reading →
(Reuters) Brazil's Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday. The Brazilian state energy firm is in talks with companies, including existing partners ExxonMobi, Shell and TotalEnergies, to buy... Continue Reading →
(Reuters) - Vestas, the world's biggest wind turbine maker, said uncertainty could weigh on performance, but the execution of its record order backlog would boost revenue, and it announced a share buyback as fourth-quarter results beat expectations. Its share price was trading 1.39% higher at 1038 GMT on Wednesday on the Copenhagen bourse, reversing falls... Continue Reading →
(oilnow.gy) Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels. “With the six ships that we have already sanctioned, we’re going to be developing over five billion barrels of that 11 billion barrels equivalent [and] there’s more to come,” Chief Executive Officer John Hess said... Continue Reading →
(oilprice.com) TotalEnergies will start drilling for oil and gas in Block 64 offshore Suriname in May, a company executive told Reuters this week, saying the company was currently tallying the final tab for the project and organizing the future well operations. TotalEnergies has a 40% stake in Block 64, which it shares with QatarEnergy and Malaysia’s Petronas, both with... Continue Reading →
(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 →
Petróleo Brasileiro S.A Petrobras Petrobras informs that its Board of Directors approved, at a meeting held today, the Strategic Plan 2050 (SP 2050) and the Business Plan 2025-2029 (BP 2025-29). During the development of the Plans, the Board of Directors took part in discussions with the technical areas and the Executive Board, leading to the... Continue Reading →
(oilnow.gy) Moody’s Ratings has upgraded Suriname’s long-term local and foreign-currency issuer ratings from Caa3 to Caa1. The outlook is now positive, reflecting the anticipated economic benefits from a significant offshore oil project. This change is driven by TotalEnergies’ recent decision to proceed with the GranMorgu oil project in Block 58, which holds 750 million barrels of recoverable reserves. The... Continue Reading →
Brazil Energy Insight 