News

As anticipation builds for an upcoming roundtable discussion on the opportunities in Guyana's upstream petroleum industry, officials are gearing up to utilise the event as a platform to promote Guyana and attract international interest in its burgeoning oil sector....

Schlumberger (SLB) has secured a significant five-year contract from Petrobras, one of Brazil's largest oil and gas companies, for the enterprise-wide deployment of its cutting-edge Delfi™ digital platform.  The contract encompasses Petrobras' complete digital transformation across exploration, development, and production...

Transocean announced on July 5 that six one-well options have been exercised for the Transocean Encourage in Norway. The rig is in use by Equinor. The estimated 370 days of work will contribute approximately US$172 million in backlog. The work...

What was considered a 'signing bonus' for the 2016 Stabroek Block Production Sharing Agreement (PSA) was in fact funds provided to Guyana in support of its efforts to address Venezuela’s claim to two-thirds of its territory.  ...

New data pulled from Rystad Energy shows that the claims of chronic underinvestment in the global oil and gas industry are exaggerated.  While investments in the upstream sector have decreased since reaching a peak of US$887 billion in 2014, some...

Petróleos Mexicanos (PEMEX), Mexico's state oil company, said the fire incident that occurred Friday at the Nohoch Processing Center, resulted in the tragic loss of two lives and one worker reported missing. The Director General of PEMEX, Engineer Octavio...

bp has announced an expansion of its investment in bioenergy with a commitment of US$10 million through bp ventures in a Series B investment round for WasteFuel, a California-based biofuels company.  WasteFuel specialises in converting bio-based municipal and agricultural waste...

In an impressive surge in just six months, the utilisation of marketed sixth-generation harsh environment semisubmersibles has experienced a 14% increase, resulting in full utilisation at a staggering 100%, Westwood Energy said in a recent report.  This level of utilisation...

Guyana’s Natural Resource Fund (NRF) received payments for two lifts of profit oil in June, amounting to US$150 million. These represent the sixth and seventh lifts owed to Guyana for the year, from oil production at the ExxonMobil-operated Liza...

Petróleos Mexicanos (PEMEX) has reported a fire incident that occurred July 7 at approximately 5:25 a.m. at the Nohoch-A Link Platform in the Gulf of Mexico, followed by another fire at the Compression Platform. In response, the Emergency Shutdown...