News

Chairman and Chief Executive Officer (CEO) of ExxonMobil, Darren Woods has highlighted that the oil giant is on a strong trajectory to meet the future energy demands of the world with Guyana remaining one of the key drivers of...

Guyana is exploring the establishment of a national oil company (NOC) to develop its oil and gas resources and some critics have opined that the South American nation should not head down this route. But one local financial analyst is of the view...

Merely 40 days after his appointment as Chief Executive Officer (CEO) of the Brazilian state-owned Petroleo Brasileiro SA (Petrobras), President Jair Bolsonaro has ordered that José Mauro Ferreira Coelho, the man he handpicked, be removed from the post. Coelho is expected to be replaced by...

The International Energy Agency (IEA) has projected that the oil and gas sector will earn US$4 trillion in 2022. In a LinkedIn post, Special Advisor to the IEA’s Executive Director, Alessandro Blassi called the figure extraordinary. He said, “Given rising demand...

Equinor announced on Friday that it submitted, along with its Halten East partners, a plan to invest NOK 9 billion (approximately US$950 million) to develop a series of gas and condensate discoveries in an area neighbouring the Åsgard field...

The Guyana government is moving full steam ahead with the realisation of its massive Gas-to-Energy project, with the President Dr. Mohamed Irfaan Ali announcing on Wednesday that proposals are expected from the pre-qualified bidders in two months’ time. As the...

Guyana will be undertaking a review of its local capacity in support of oil and gas operations by the end of 2022 to determine whether the 40 schedules outlined in the Local Content Policy need to be adjusted. “This will...

According to Norway-based Rystad Energy, oil majors that historically have been known as lavish spenders have reined in their appetites of late. Free cash flow from upstream operations among the majors increased to $121 billion last year, a vast...

TechnipFMC (NYSE: FTI) has been awarded a significant engineering, procurement, construction, and installation (EPCI) contract by Equinor for subsea tiebacks for the Halten East development on the Norwegian Continental Shelf. For TechnipFMC, a “significant” contract is between $75million and $250million. The contract...

(S&P Global Platts) Crude oil futures were higher in mid-morning Asian trade May 27, with the ICE Brent crude marker hovering around a two-month high, as the near-term outlook for oil remained bullish with demand still seen outpacing supply. At...