News

S&P Global has determined that six discoveries made in Guyana’s Stabroek Block, are among the 12 most valuable oil discoveries made in 2022. In descending order, these are Lau Lau-1, Seabob-1, Barreleye-1, Fangtooth-1, Kiru Kiru-1 and Sailfin-1. They were ranked...

Suriname’s state energy company, Staatsolie, said offshore activity is being followed with great interest both locally and internationally. In 2023, the company expects there to be multi-block exploration, seismic tests, and new license awards. Suriname’s ongoing Demerara area competitive bid...

While the state oil producer of Brazil awaits the election and appointment of a substantive Chief Executive Officer (CEO), the Chairman of the Petrobras board of directors has nominated the Chief of Production Development Officer, João Henrique Rittershaussen, as...

Guyana’s gross domestic product (GDP) per capita is now around US$17,000 according to the country's Vice President, Dr. Bharrat Jagdeo. This is an increase from US$5,577 in 2015, the year oil was first discovered off the country's coast. This statistic...

Petrobras said that it has signed an Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil – partners in the Santos Basin pre-salt offshore...

Although being the holder of the world’s 17th largest oil reserves with an exploration success rate that is more than double the global average, offshore operations in the Guyana basin still come with risks. In its latest assessment and...

Executive Chairman of the African Energy Chamber, NJ Ayuk, has said that delayed regulatory approvals and acreage licenses could be a serious setback for the petroleum industry. His comments were made in the context of a need for more investment...

(Reuters) - Brazil's new mines and energy minister Alexandre Silveira said on Monday that state-run oil company Petrobras would play a leading role in expanding the refining sector and stressed the importance of developing renewable resources. Petrobras would encourage other...

ExxonMobil’s campaign to find more hydrocarbons at Guyana’s largest block remains in high gear at the start of 2023 with exploration drilling operations continuing at the Tarpon and Fangtooth well sites. According to a notice from the Maritime Administration Department...

Eni has signed a contract with Wison Heavy Industry for the construction and installation of a floating liquefied natural gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum).  The FLNG will be deployed offshore the Republic...