Sunday, May 29, 2022

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NOC can guarantee far greater benefit, value to Guyana – Financial Analyst

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...

Petrobras shakeup: Bolsonaro axes new CEO less than two months on the job

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...

Oil and gas industry to earn US$4 trillion in 2022 – IEA

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...

US$950 million gas development project moves forward in Norway

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...

Proposals for onshore natural gas facilities to be submitted by July – Ali

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 to conduct national year-end capacity assessment to update local content law – Bharrat

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...

Exxon, Shell lead in upstream profitability recovery

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 bags new contract with Equinor for subsea work offshore Norway

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...

ICE Brent crude futures hit 2-month high

(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...

Gas-to-Energy project will be star performer in Guyana’s low carbon push

The Government of Guyana is working with ExxonMobil to deliver Gas to Power, a project that is commonly said will be the single most transformation project in Guyana’s history. While it is a fossil fuel project slated to come onstream...

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NOC can guarantee far greater benefit, value to Guyana – Financial Analyst

Guyana is exploring the establishment of a national oil company (NOC) to develop its oil and gas resources and some critics have opined...