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Monthly Archives: December 2020

Defying U.S. sanctions, Venezuela resumes direct oil shipments to China

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(Reuters) Venezuela has resumed direct shipments of oil to China after U.S. sanctions sent the trade underground for more than a year, according to...

Brazil’s Petrobras strikes high-quality oil at Búzios field

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Brazil state-oil company Petrobras has made a discovery of high-quality crude at the Búzios field, in the Santos Basin. The company confirmed Tuesday the...

Scale of investments needed to develop oil fields beyond Guyana’s capabilities – Vice President

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The role of international companies in the development of Guyana’s oil and gas industry is vital if the vast hydrocarbon resources discovered off the...

Shell’s massive write-down may hinder stock price recovery

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(S&P Global Platts) Royal Dutch Shell PLC is wrapping up a volatile year with caution as its fourth-quarter financial results may include a write-down that...

Rapid-fire Guyana drilling in 2021 will result in heroes or zeros – Westmount Energy

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The drill campaign offshore Guyana is set to ramp up in 2021 with multiple wells being targeted across several blocks. According to Westmount Energy...

SBM Offshore, ExxonMobil discussing extending lease durations for Guyana FPSOs

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SBM Offshore and U.S. oil major ExxonMobil are in discussions regarding the extension of the lease and operate durations for the floating production storage...

Oil companies pumped US$8.1 billion into Guyana between 2015-2019 – Analyst

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Despite challenges both at the global and domestic levels, investment in Guyana’s oil and gas sector has remained robust in recent years. In fact,...

Crude futures slide on news of mutant coronavirus

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(S&P Global) Crude oil futures slid during the mid-morning trade in Asia Dec. 22, as concerns over a new strain of the coronavirus remained...

GE supporting Oil Field Revitalization Project in Brazil

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Sulzer Pumps UK have awarded GE Power Conversion a contract to supply the motors for the four water injection pumps which will equip a...

Lessons learnt from gas compression issue being factored into construction of other Guyana FPSOs

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With the commissioning of the gas compression system on the Liza Destiny FPSO and reduction of flaring to pilot levels, ExxonMobil says the lessons...