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Guyana on BP’s radar as oil major looks to expand presence in region

Oil major BP Plc is closely following oil auctions in Brazil, Mexico and other potential offshore investment opportunities in Guyana, Colombia and Suriname in a bid to expand its presence in the region. Rising crude prices and energy reforms in...

Exxon’s success off Guyana coast fueled Latin America dominance in 2017

Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...

Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...

Noble reports net loss for Q1 2018; expects fleet utilization to ramp up

Noble Corporation, the same company contracted by ExxonMobil to drill 17 wells for the Liza Phase 1 development in Guyana, on Wednesday reported a net loss for the three months ended March 31, 2018 of $142 million, or $0.58 per diluted share, on revenues...

Positive cash flow from Guyana may not come before 2022 – Hess

Hess Corporation does not expect oil production in the South American country of Guyana where it has a 30% stake in the Stabroek Block, to turn a profit for the company before 2022 when the larger Liza Phase 2...

Anadarko posts Q1 2018 profit

Anadarko Petroleum Corp reported a quarterly profit on Tuesday as higher crude prices helped the oil and gas producer earn more per barrel. The company, which had its vessel seized by Venezuela while conducting a seismic study off the Guyana...

Petrobras chips away at debt with asset sales

(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...

Guyana oil spill response plan in line with international guidelines – CDC Director General

Guyana’s National Oil Spill Contingency Plan has benefited from the input of several notable international organizations and following a series of reviews, the document will be open for public consultations in the South American country. Director General (ag) of the...

BP says still sees oil at $50-$60/bbl in 2018 as shale output surge

(Reuters) - BP expects benchmark oil prices to weaken in the second half of the year as U.S. shale production surges by up to 1.5 million barrels per day, Chief Financial Officer Brian Gilvary said on Tuesday. The London-based oil...

Big oil firms hold back on drilling

(The Wall Street Journal) The world’s biggest oil companies are awash in cash, thanks to rising crude prices. But few, if any, are going on spending sprees, even as the prospect of a global oil shortage looms. Western energy giants...

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Guyana among key drivers of global subsea tree demand despite sharp Q1 dip

Subsea tree unit awards slumped to 32 in the first quarter (Q1) of 2025, marking a 65% quarter-over-quarter decline,...