News

Three of Brazil’s oil refineries, associated assets up for sale

Brazil’s state-owned Petrobras has kickstarted the non-binding phase in its bid to sell three of its refineries and associated logistical assets. Petrobras announced on Monday that it began notifying potential buyers that they have been approved to participate and submit...

Guyana’s oil production reached all-time high of 386,000 bpd at end of July

Oil production offshore Guyana exceeded 386,000 barrels a day (bpd) in July, marking the highest production recorded in a day since first oil. This data is publicly available via the Petroleum Management Program, an online portal available since early 2021 that makes...

APA makes first discovery at Suriname’s Block 53, comes up dry at 58

APA Corporation on Tuesday announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58. Block 53 Baja-1 was drilled to a depth of 5,290 meters (17,356 feet)...

Guyana oil production data available online since last year – Gossai Jr.

Guyana’s Ministry of Natural Resources pointed out on Monday that oil production data can be easily accessed by the public via the Ministry’s Petroleum Management Programme website: https://petroleum.gov.gy/data-visualization. This follows reports in the media about the data not being...

Saipem adds ‘FlatFish’ underwater drone to boost monitoring, automatic inspections

Saipem and Oil Spill Response Ltd. announced Monday that they have extended an existing partnership to include utilisation of Saipem’s FlatFish underwater drone robotic technology. The drone will be used for environmental monitoring and inspection of asset integrity. The existing contract between Saipem...

CGX, Frontera farmout deal gets conditional approval from Toronto stock exchange

CGX Energy Inc. said Monday that the TSX Venture Exchange (TSXV) gave conditional approval for the agreement it made to farm out a majority stake in the Corentyne Block to Frontera Energy Corp. The agreement remains subject to certain confirmations from the...

Time running out for T&T to offer more investor-friendly contract terms – Energy Chamber

The Trinidadian government had expressed openness to revising Production Sharing Contracts (PSC) to stimulate new investment in the twin-island Republic. The Energy Chamber of Trinidad and Tobago had called for this to be done. Upping its plea to the administration,...

Frontera extends repayment deadline for US$19M loan CGX took to cover Guyana projects

CGX Energy Inc. said the maturation date for a US$19 million convertible loan it took for Guyana projects has been moved. The loan outstanding to Frontera Energy Corp., was previously announced on April 16, 2021 and May 28, 2021. With original...

Guyana greenlights CGX’s Wei-1 drill campaign

CGX Resources Inc. said Monday that its joint venture with Frontera Energy Corp. was granted an environmental permit for drilling of the Wei-1 exploration well by Guyana’s Environmental Protection Agency (EPA). The company also confirmed its definitive agreement with Maersk...

TotalEnergies, Eni announce significant gas discovery off Cyprus

TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. Located at approximately 160 km southwest of the Cyprus...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...