News

In Guyana’s inaugural offshore licensing round, Sispro Inc. stood out as the only Guyanese company among the bidders.  They were eventually awarded two blocks S3 and D2 when the auction closed. But to date, it has not been finalised. Its Chairwoman...

Universal Africa Lines B.V. (UBSL) is expanding its operations by launching a new breakbulk shipping line for the Caribbean and East Coast of South America.  This venture, UBSL Caribbean Line, is a joint effort between BOCS Bremen and Universal Africa...

PETRONAS Suriname E&P B.V. (PSEPBV), a subsidiary of the Malaysian energy giant, has announced plans to conduct a 3D seismic acquisition across Offshore Block 63 and the Ironman Prospect in Block 63/52, Suriname. This follows the signing of the...

The Guyana government is seeking a consultant to review and evaluate ExxonMobil's proposed Hammerhead oil development, its seventh offshore project.  A request for expressions of interest, issued through the Ministry of Natural Resources, aims to secure consulting services with part...

Capital One Financial has revised its Q3 2024 earnings forecast for Hess Corporation, lowering its estimate from US$2.45 per share to US$1.80. This adjustment was shared in a report to investors on October 3rd.  Analyst P. Johnston also provided updated...

Rystad Energy has reported a continued rise in the cost of developing new upstream oil projects, driven by inflation and supply chain issues. The latest research shows that the average breakeven cost for non-OPEC oil projects has climbed to...

Guyana and Brazil are leading a massive investment wave in South America’s offshore oil sector, accounting for a significant portion of the region’s US$189 billion in conventional greenfield capital expenditure between 2020 and 2030, according to Rystad Energy.  Rystad said...

Guyana has taken control of the Corentyne Block from Frontera Energy and its partner, CGX Resources. This move follows a series of unmet contract obligations. Frontera and CGX had been working on this block for some time, with CGX...

ExxonMobil forecasts a dip in Q3 2024 earnings due to market factors, with estimated total earnings at US$9.2 billion.  ExxonMobil’s advantaged assets in Guyana, Permian Basin pushing it well ahead of competition | OilNOW A key factor is declining liquid prices,...

Guyana's National Procurement and Center Administration Board published a list of four bidders for a contract to conduct a 3D Multi-Client Seismic Survey offshore Guyana:  The four bidders are PSS-GEO from Norway, CGG Veritas Services UK Ltd. from the United...