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TotalEnergies has announced a profit of US$5.6 billion for the first quarter of 2023. With the lower oil and gas prices, the company has achieved a return on average capital employed of 25% and cash flow of US$9.6 billion. Exploration...

Expansion plans have been eyed for Guyana’s first floating dry dock, owing to the fast-paced development of its marine sector pulling larger vessels to the country’s shores.  Named Dock Yard (DY), the facility has been running since January after getting...

ExxonMobil produced 34.05 million barrels of crude in the first quarter of 2023 from the Liza projects offshore Guyana, at 378,340 barrels per day (bpd). Output peaked at 408,860 bpd.  Liza Phase 1 produced 13.598 million barrels at 151,090 bpd....

Guyana's Vice President Dr. Bharrat Jagdeo said the demand for excess gas from the country's mega Gas-to-Energy initiative is secure for the 20-year life of the project, as the government has received several expressions of interest. With key preparatory...

The MODU Stena DrillMax will be used to continue development drilling activities at ExxonMobil Guyana’s Yellowtail well site in the offshore Stabroek Block.  An April 27 Notice to Mariners by the Maritime Administration Department (MARAD) said the exercise will conclude...

The Fangtooth reservoir is shaping up nicely to become ExxonMobil’s 7th Stabroek Block development.  This fact is supported by its latest discovery - Lancetfish-1, according to Greg Hill, Chief Operations Officer (COO) at Hess Corporation. Hess holds a 30% stake...

The electric vehicle market is set to continue its growth, with sales projected to reach 14 million this year alone, up from 10 million in 2022. This growth is part of a historic transformation of the auto industry, with...

Ysmel Serrano, ex-Vice President of Venezuela’s state-run PDVSA is the latest top-ranking official to be slapped with charges as investigations progress into the billion-dollar oil scandal. He served in the post and acted as trade chief between 2017 and...

Guyana’s Liza Phase 2 Project and its accompanying Liza Unity production vessel are expected to undergo a series of maintenance and debottlenecking activities that will push production from 220,000 barrels of oil per day (bopd) to 250,000 bopd by...

Oil price jumps have led to a recent public spat between the International Energy Agency (IEA) and oil group Organisation of Petroleum Exporting Countries (OPEC).  OPEC lashed out at IEA after its Executive Director Fatih Birol in a Bloomberg interview...