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Petrobras hiking Brazil wholesale diesel price 14.3%, gasoline 5.2%

OilNOW -
(S&P Global Platts) Petrobras will raise wholesale diesel and gasoline prices, effective June 18, in the latest increase under the company's controversial import-parity pricing policy and the first adjustment since Brazil's Congress passed several measures aimed at reducing fuel...
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Guyana to seek int’l project manager for Gas-to-Energy Project

OilNOW -
Guyana’s Vice President Dr. Bharrat Jagdeo recently disclosed that the government intends to seek an international project manager for the construction of the power plant and natural gas liquids processing facility, the components of the Gas-to-Energy project it is...
News

Market value of Guyana’s oil fund nearly three-quarter billion US dollars

OilNOW -
The market value of Guyana's oil fund is nearly three-quarter billion US dollars. According to the Guyana Central Bank’s 2022 first-quarter report for the Natural Resource Fund (NRF), the market value of the Fund at March 31, 2022 stood at GY$150.08...
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Going green: TotalEnergies teams up with India’s Adani to form world-class green hydrogen company

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TotalEnergies has entered into an agreement with Adani Enterprises Limited (AEL) to acquire 25% interest in Adani New Industries Limited (ANIL) to be the exclusive platform for the production and commercialisation of green hydrogen in India. TotalEnergies announced that ANIL will target the production of...
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While climate lobbyists target Guyana, US boosting oil supply

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With the surge in fuel prices globally, well-established oil producing countries around the world have been looking to boost output, even as groups and climate lobbyists continue to push for new producers like Guyana, to slow down development of...
News

Saipem bags US$25M contract to engineer Brazil-bound FPSO

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Italian oil services company, Saipem, announced a US$25 million contract from floater operator, BW Offshore Limited, to provide early-stage engineering services on an oil production vessel for Shell’s Gato do Mato oil and gas field in Brazil. BW issued a limited notice to proceed (LNTP)...
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CNOOC completes first carbon capture project for Chinese offshore oilfield

OilNOW -
China National Offshore Oil Corporation Limited (CNOOC) completed its first carbon capture and storage (CCS) project after 10 months of preparation, according to a report from Chinese state media. China Daily said the state-owned oil corporation’s project was designed to...
Exploration

CGX walks away from 1.1 million acres offshore Guyana, hedging all bets on Corentyne

OilNOW -
Given their inability to honour their work obligations, Frontera Energy Corporation and CGX Energy Inc. have reached an agreement with the Guyana Government to relinquish the Demerara and Berbice Blocks, amounting to a combined 1.1 million acres. The attention of...
News

Liza Unity achieves pilot flare, new gas compression system for Liza Destiny – Exxon

OilNOW -
ExxonMobil Guyana announced Thursday that its second production vessel, the Liza Unity, achieved pilot flare after its gas compression and injection systems were safely commissioned in “half normal industry time”. ExxonMobil Guyana Production Manager, Mike Ryan dubbed the achievement “a...
Exploration

TotalEnergies secures Maersk rig for new Suriname well

OilNOW -
TotalEnergies E&P Suriname, operator of Block 58, has secured the Maersk Valiant to drill another well offshore Suriname in the third quarter. The driller said TotalEnergies exercised an option available to it, in a deal it has with Maersk, to add...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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