News

Global research group, Wood Mackenzie expects national oil companies (NOCs) to maintain their dominant role in the future, particularly in vital deepwater basins such as Guyana, Mexico, Brazil, and Gabon. Mexico has PEMEX, Brazil has Petrobras, and Gabon has the Gabon...

The United Kingdom administration has granted permission for the start-up of a deep coal mine project in the northwest of England. This is the first coal project to receive the government’s blessings in 30 years. Project documents note that the Woodhouse Colliery mine...

Guyana is inviting proposals from suitable firms to install the transmission lines and substations for the integration of the new 300-megawatt (MW) combined cycle gas turbine power plant to be constructed at Wales, West Bank Demerara. The US-based partnership CH4/Lindsayca will be constructing...

Guyana Power & Light (GPL) is inviting bids for the engineering, procurement, and construction (EPC) of eight utility-scale ground-mounted solar photovoltaic (PV) plants with battery energy storage systems, to be placed at Berbice, Linden and Essequibo. Project documents indicated that the...

Renewables constitute the only category of electricity generation sources expected to grow in the next five years, a new report from the International Energy Agency (IEA) said. This projection sees the category gaining 10 percentage points over the forecast...

ExxonMobil has moved to a new well offshore the South American country of Guyana, where it has found over 11 billion barrels of oil equivalent since 2015, spread across more than 30 prolific discoveries. The new well is called Lancetfish-1,...

Saipem said Monday that it has strengthened its offshore drilling fleet with the new Santorini drillship. The company exercised a purchase option with Samsung Heavy Industries for the vessel with US$230 million available cash to be paid by the...

Guyana’s oil economy is expected to grow in 2022, by far more than 100% over the prior year. First oil at the Liza Unity floating production, storage, and offloading (FPSO) unit and optimisation of the Liza Destiny FPSO resulted...

Texas-based Welligence Energy Analytics has projected that Hess’ forest credits deal with the Guyana government, will buy up more carbon dioxide equivalents (CO2e) than is estimated to be emitted from the Stabroek Block in the same period (2022-2032). The planned purchase by Hess...

With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining...