News

When the proceeds received by Guyana for the first quarter of 2021 from oil produced and sold at the offshore Liza Phase 1 Development are added to the amount currently in the Natural Resources Fund, this is expected to...

China’s national offshore oil and gas company CNOOC Ltd. said on Thursday its oil and gas sales revenue in the first quarter of this year surged by 21%. The Company achieved a total net production of 137.7 million barrels...

Norway-based consultancy group Rystad Energy says the adoption of electrification in transport and other oil-dependent sectors is accelerating and is set to chip away at oil sooner and faster than in its previous forecast. As a result of this...

(Bloomberg) Exxon Mobil Corporation can move forward with a U.S. lawsuit seeking $280 million from two Cuban companies as compensation for a refinery and other assets seized from the oil giant after Fidel Castro’s 1959 revolution, a judge in Washington...

ExxonMobil Guyana said on Wednesday it has removed the faulty discharge silencer from the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel for further assessment of the damage to determine the necessary scope of repairs needed. The company said...

The base-case subsea tree demand for the 2021-24 period is now forecast at approximately 1050 units representing an upward revision of 60 units compared to a March outlook by consultancy group Westwood Energy. “The increase is due to ExxonMobil’s commitment...

Guyana’s Environmental Protection Agency (EPA) says it routinely assesses all projects submitted for approval to determine their impacts on the environment and human health. This entails a comprehensive screening process which includes evaluation of the information submitted, site inspection...

TechnipFMC has been awarded a major subsea contract from Petrobras for the Marlim and Voador fields, located offshore Brazil. TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes...

(Bloomberg) -- The head of Vitol Group, the world’s biggest independent oil trader, expects crude demand to come roaring back this year and next as the world emerges from the pandemic. Demand for crude will increase by 7 million to...

Maersk Drilling has been awarded a contract with Karoon Energy Ltd for the semi-submersible rig Mærsk Developer to perform well intervention on four wells at the Baúna field offshore Brazil. The contract is expected to commence in the first...