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(Reuters) - Guyana's government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali expects to hold talks with U.S.... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
Adira Renewables, a wholly-owned subsidiary of Kim Heng, signed a non-binding Memorandum of Understanding (MoU) with Crowley Wind Services to cooperate on offshore wind farm cable laying installation projects across the US East Coast. Under the MoU, Kim Heng will issue updates about material developments and/or the execution of a definitive agreement as and when... Continue Reading →
(Reuters) - The Biden administration on Wednesday said it had identified 700,000 acres for possible offshore wind energy development in the Gulf of Mexico, seeking to expand a growing clean energy industry to a major U.S. oil and gas hub. It also said President Joe Biden would direct his Interior Department to move ahead with... Continue Reading →
After curbed spending over the past two years, the oil and gas (O&G) sector is primed to get back into the game with high investments, putting contractors into a buoyant mode as the five-year offshore engineering, procurement, and construction (EPC) spend is expected to total $276 billion, outlined Westwood Global Energy, an energy market research and... Continue Reading →
(Reuters) - Oilfield services provider Halliburton Co (HAL.N) on Tuesday posted a nearly 41% rise in second-quarter adjusted profit compared to the first quarter, and predicted multiple years of growth in demand for drilling. Driven by high oil prices, the increase was in spite of a $344 million hit from the company winding down assets in Russia... Continue Reading →
(Reuters) Mexico's state oil company Petroleos Mexicanos (Pemex) disclosed the names of two former managers that allegedly received bribes from the world's largest independent commodity trader, Vitol, newspaper Reforma reported on Friday, citing independent journalism organization Quinto Elemento Lab. Citing a document obtained through the Mexican transparency institute, Quinto Elemento named the two former general... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 78,000 barrels per day (bpd) to a record 5.445 million bpd in August, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(Reuters) - U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on... Continue Reading →
(Reuters) - A rally in U.S. energy shares is crumbling, as fears of a global recession have prompted investors to take profits in one of the few corners of the stock market that has thrived this year. The S&P 500 energy sector (.SPNY) is still up 20% year-to-date, bucking a broader market swoon. But the sector has... Continue Reading →
