Friday, January 21, 2022

News

‘If not now, then when’: Guyana gov’t targeting 50 million barrels by 2026

The number of major oil projects to be sanctioned globally in 2022 is anticipated to be in the mid-30s, double the 2021 figure and higher than pre-covid levels; a possible sign of an ‘if not now, then when’ mentality,...

Leaders of South American oil nations set for talks this week

Guyana’s President Dr. Mohamed Irfaan Ali is scheduled to make a working visit to Paramaribo on Thursday to meet with the President of the Republic of Suriname, Chandrikapersad Santokhi, and the President of Brazil, Jair Bolsonaro. According to an update...

Exxon announces ambitious plans for net zero emissions by 2050

ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The net-zero ambition is contained in the...

2022 Guyana bid round will open more acreage in prolific basin

By the third quarter of this year, Guyanese authorities plan to auction the nation’s remaining offshore oil blocks to international oil companies (IOC) marking a shift from the country’s earlier awards of production sharing contracts (PSCs) based on direct...

Oil price hits highest point in seven years

(Reuters) - Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2%, to $87.50...

Venezuela production hit 750,000 b/d in December but growth may not be sustainable

OPEC's 13 countries pumped 28.04 million b/d of crude last December, up 190,000 b/d from the previous month, while nine non-OPEC partners pumped 13.98 million b/d, an increase of 120,000 b/d, a Platts survey found. Gains by Venezuela, Kazakhstan, Saudi...

TotalEnergies, Inpex sell stakes in Angola oil fields

(S&P Global Platts) France's TotalEnergies and Japan's Inpex Corporation have signed a deal to offload their non-operated interests in Angola Block 14 and Block 14K to Angolan Company Somoil, both companies said Jan. 17. Somoil will acquire the company Angola...

Lau Lau-1 is Exxon’s largest discovery by depth in Guyana; almost three times the height of Marriott Hotel

To date, there have been more than 20 major discoveries in the ExxonMobil-operated Stabroek Block offshore Guyana. The largest of them by depth is Lau Lau-1 which was announced on January 5 by the American multinational. The Lau Lau-1 well...

Oil money to back youth-led agri programme in South America’s newest hot spot

Even though Guyana’s hydrocarbon sector has dominated the spotlight since its emergence in 2015, the Irfaan Ali-led government is determined to demonstrate that the South American country will not be solely dependent on oil. Just last week, President Irfaan Ali...

Oil holds firm just above $86

(Reuters) - Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 4 cents, or 0.1%, to $86.02...

Latest News

Tristar appoints Joel Bhagwandin as Managing Director, says local content is key focus

Tristar has appointed Joel Bhagwandin as its Managing Director. The company said Mr. Bhagwandin, who has held positions in...