News

Brazil alone is expected to contribute around 23% or 1.3 million barrels per day (mmbd) of global crude oil and condensate production in 2025 from key offshore planned and announced projects (new-build projects) that are expected to start operations...

(S&P Global Platts) Energy group BP has exited from The Gambia, relinquishing its stake in Block A1 after it agreed to pay the government for suspending drilling at the license, the Ministry of Petroleum and Energy said Aug. 12. BP...

The world-renowned American Petroleum Institute (API) will be assisting Guyana in the adoption of good petroleum management standards for the development of the local oil and gas industry. Towards this end, API signed a memorandum of understanding with the Guyana...

Guyana’s appetite for Floating Production Storage and Offloading (FPSO) units to produce its massive oil reserves is growing as more developments come on stream at the ExxonMobil-operated Stabroek block. This demand for FPSOs was most evident recently with two Guyana...

The deepwater plays in Guyana, Brazil and Mexico will provide significant opportunities for these countries to help meet the oil and gas demand in coming years as supply shortfalls due to energy transition trends take hold. "Demand for oil will...

(Reuters) - The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is slowing sharply owing to the spread of...

The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of...

Dutch floater specialist SBM Offshore said on Thursday the hull for the Prosperity Floating Production Storage and Offloading (FPSO) vessel has arrived safely at the Keppel yard in Singapore. The next phase of construction will now commence, with the...

(Reuters) - Oil prices steadied on Thursday as the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the global oil demand recovery. Brent crude futures rose by 18 cents, or 0.25%, to...

Exploration and appraisal drilling offshore Guyana is set to get even busier with more wells now being targeted at the Canje block where two non-commercial prospects have been spudded so far. The Environmental Protection Agency said in a notice...