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Company with interest offshore Guyana targets 349 million barrels in southern Africa

OilNOW -
Eco Atlantic Oil & Gas Ltd. has placed US$20 million in escrow to support its capital expenditure for the Gazania-1 well in Block 2B offshore South Africa, its joint venture partner, Africa Energy Corp. said on Tuesday. “The block has...
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Halliburton’s first quarter profit jumps 54% over same period last year

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Halliburton reported net income of US$263 million for the first quarter of 2022, or US$0.29 per diluted share, a 54% increase from the US$170 million profit from the previous year’s first quarter, or US$0.19 per diluted share. It said its...
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New Petrobras CEO takes office, vows to continue maximising value from deepwater assets

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Brazil’s state oil company Petrobras finally has a new Chief Executive Officer (CEO) Jose Mauro Coelho, putting an end to the messy public leadership change. Coelho took up his appointment last week in the presence of Brazil’s Minister of Mines and Energy, Bento...
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Over 670 million barrels of oil discovered at Stabroek Block so far this year – Norway group

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ExxonMobil has discovered over 670 million barrels of oil so far this year at Guyana’s largest deepwater block where well over 10 billion barrels of oil equivalent resources have been found since 2015. On January 5, the U.S. oil major...
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OPEC+ oil production falls but Venezuela pumps 40,000 b/d more in March

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(S&P Global Platts) Crude oil production by OPEC and its allies fell in March from February for the first time in more than a year, the latest S&P Global Commodity Insights survey found, contributing to a tightening market thrown...
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U.S. likely to extend Chevron’s license to operate in Venezuela – PDVSA Chair

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(Reuters) - The chair of the ad-hoc board of Venezuela's state-owned oil company PDVSA (PDVSA.UL), which controls some of its most important foreign assets, said earlier this month it was very likely that Washington will extend Chevron's license to operate...
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Price tag for Guyana’s gas-to-energy project not exorbitant, economist says

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Initial estimates for Guyana’s massive gas-to-energy project hover around US$900 million to US$1 billion, with potential to increase, but considering the South American country has zero infrastructure in place and is essentially starting from scratch, one economist says the estimates...
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Eni using African gas to lessen Europe’s dependence on Russia

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Italian energy major, Eni, has moved to help Europe reduce its dependence on Russian gas, with two major agreements signed to increase supply from Africa. Eni said last Wednesday that it signed an agreement with Egypt’s Natural Gas Holding Company...
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Webinar on this week on growing opportunities from Guyana-Suriname basin

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One Basin Three Nations Academy (OBTN/A) is organizing a free Webinar about Oil and Gas Industry Insights for the general public in the Guianas on April 22. Organisers say the current offshore oil and gas discoveries in Guyana and...
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Libya’s NOC declares force majeure, warns of “painful wave of closures”

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(Reuters) - Libya's National Oil Corp warned on Monday of a "painful wave of closures" after declaring force majeure on exports from the Zueitina oil port as forces in the east appeared to expand a production blockade over a...
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Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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