(Bloomberg) - Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want to shut down amid low oil prices and a struggling global economy. But the...
Venezuela President Nicolas Maduro has said fuel prices will increase in the cash-strapped South American country from June, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free.
Although the...
The Government of Guyana Agreement may identify the Delivery Point or Points, putting the actual location of the Delivery Point beyond discussion. However, the investing parties should also agree to the procedures for measurement and calibration of measurement equipment...
(Wood Mackenzie) OPEC+ today agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.
Ann-Louise Hittle, vice...
Ed Crooks, Vice-Chair, Americas at Wood Mackenzie says rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the cartel was founded in 1960, it almost broke...
The successful foray by ExxonMobil into the Ranger-1 reservoir offshore Guyana saw the deepest drilling exercise to date some 60 miles north-west of the prolific Liza field.
The Ranger-1 well was drilled in a new area, encountering approximately 230 feet...
The Maka Central-1 and Sapakara West-1 discoveries, the first of their kind offshore Suriname, are likely to be developed in coming years utilizing a high capacity floating oil production complex. The two discoveries are located approximately 20 kilometers (12...
Developing energy requires a big toolbox. It relies on detailed geological surveys to find the oil and gas, high-performance drilling platforms to access the reservoirs and, finally, the ability to transport the crude or natural gas responsibly. US oil...
(Reuters) - Venezuela’s oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for Venezuelan crude sales stopped receiving oil, Refinitiv Eikon data and...
(The Chronicle Herald) The association representing businesses involved in Newfoundland and Labrador’s offshore oil sector is adding written words to spoken ones as it continues to press Prime Minister Justin Trudeau to provide federal government help for the beleaguered...
