News

Brazil’s Minister of Mines and Energy, Alexandre Silveira, commended Guyana for how well it has attracted investment in its oil sector, a June 3 report by CNN Brazil said. “Guyana has advanced very quickly in this geological region , which...

TotalEnergies said it signed two new liquefied natural gas (LNG) medium- and long-term contracts in Asia. In line with its strategy to grow its liquefied natural gas (LNG) business. A sales and purchase agreement (SPA) with Indian Oil Corporation (IOCL) for...

Paramaribo, Suriname - Staatsolie, Suriname's state oil firm, has big plans for its offshore oil sector, with an extensive exploration program eyed over the next two years.  "We are planning...lots of exploration wells, which is exciting because it gives the...

With planning underway for TotalEnergies’ first development in Suriname at Block 58, analysts at Rystad Energy and Wood Mackenzie are looking at two additional projects that can potentially follow. The first is a potential oil development at the nearby Block...

The Inter-American Development Bank (IDB) sees potential for the Caribbean to benefit from the oil boom of its new “growth pole” — Guyana.  The Bank said in its latest Caribbean Economics Quarterly Bulletin that Caribbean economies are experiencing continued growth...

Subsea7 said it was awarded four long-term day-rate contracts from Petrobras, for pipelay support vessels (PLSVs) commencing in 2025. The contracts have a combined value of over US$1.25 billion and will be recorded in the backlog in the second quarter. The...

Paramaribo, Suriname: The fourth Suriname Energy, Oil & Gas Summit (SEOGS) returns this week from June 4-7 in Paramaribo under the theme; “The Next Stage of Success”. The host remains Suriname’s state oil firm, Staatsolie. The event will be held...

With Mexican crude exports expected to decline, a fierce competition is emerging between the U.S. and Europe for Guyanese oil, global trade data and analytics firm Kpler said.  Kpler analyst Matt Smith, quoted in a May 29 Argus Media article,...

An International Monetary Fund (IMF) team, led by Ana Corbacho and Daniel Leigh, conducted discussions with Brazilian authorities and stakeholders for the 2024 Article IV Consultation from May 15-27, 2024. The IMF issued a statement highlighting Brazil's economic resilience...

Saipem is set to take over the latest generation heavy lift pipelay vessel, JSD6000, in June. The company said the vessel, built by Chinese state-owned port and naval machinery manufacturer ZPMC, had its completion ceremony at ZPMC’s Changxing base. The...