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Shell’s Pensacola prospect could be among North Sea’s largest gas discovery in decades

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With flow tests completed at Shell’s Pensacola gas prospect in the North Sea, Deltic’s Chief Executive Officer (CEO) Graham Swindells said it is shaping up to be one of the largest discoveries there in decades. Deltic is Shell’s partner on...
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Changing Stabroek PSA after more than US$30B investment would hurt investor confidence – Routledge

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ExxonMobil Guyana President, Alistair Routledge defended the stability of the Stabroek Block production sharing agreement (PSA) during a media conference in Georgetown on Thursday. “We’ve made now over US$30 billion worth of investment to the country based on the contract...
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APA’s new flow test at Suriname well adds ‘substantial resources’ – Christmann

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APA Corporation (Nasdaq: APA) on Wednesday announced the successful drilling and flow testing of the Sapakara South-2 (SPS-2) appraisal well, the second appraisal well to test the previously announced discovery. The well is located approximately 4.6 kilometers (3 miles)...
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Guyana government makes first 2023 withdrawal of US$200 million from oil fund

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Already well into its massive 2023 development plan, the Guyana government has withdrawn US$200 million from the Natural Resource Fund (NRF). Senior Finance Minister, Dr. Ashni Singh made the announcement Thursday afternoon. The Minister said that pursuant to Section 16 of...
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TotalEnergies made US$20.5 billion profit in 2022, bogged down by Russia-exit

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European major, TotalEnergies, reported a profit of US$20.5 billion to International Financial Reporting Standards (IFRS). The company said this includes nearly US$15 billion in provisions related to Russia, for an adjusted net income of US$36.2 billion. Return on equity was...
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Unintended negative consequences could come from windfall taxes – Exxon Head

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Counterproductive. That is how ExxonMobil describes windfall taxes. And it is sticking to this position, so much so that it filed a lawsuit against the European Union (EU) back in December to challenge its introduction. The EU windfall tax allows...
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First Guyanese oil service company to get ISO 29001:2020 certification

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GO-NDE Inc. – a partnership between Trinidad’s Non-Destructive Testers Limited (NDT) and Guyana Oil and Gas Support Services Inc. (GOGSSI) has become the first Guyanese oil service company to be ISO 29001:2020 certified. ISO 29001 is an international standard that...
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BP extends Stena IceMAX contract for drilling in Gulf of Mexico

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BP has extended its contract for utilisation of the mobile offshore drilling unit (MODU) Stena IceMAX, Stena Drilling said Tuesday. This extension shall see the MODU mobilise to the United States Gulf of Mexico in direct continuation of the initial...
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Guyana, Permian growth offset Exxon’s divestments, Sakhalin-1 expropriation in 2022

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ExxonMobil revealed that earnings from growth at its Guyana and Permian projects in 2022 more than offset the losses from its divestments and the expropriation of the Russian Sakhalin-1 project. This was also helped by higher prices on account...
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BP scaling back oil and gas withdrawal, rakes in US$27.7 billion in profits for 2022

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UK supermajor, bp has decided that it will be producing oil and gas longer than it intended to, in direct response to the world’s growing energy needs. But it is not dialling back on its transition to green energy; bp...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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