News

SBM Offshore posted footage of the lifting of the first series of topside modules onto the hull of the Prosperity floating production, storage and offloading (FPSO) vessel, on Wednesday. Work on the FPSO for ExxonMobil Guyana’s third development project at...

Guyana’s total government revenues were just US$1.4 billion in 2018, but now, with the rapidly expanding oil and gas operations off of its coast, this is estimated at US$50-US$200 billion through 2050. Hydrocarbon earnings will therefore dwarf all other sources of...

Eco Atlantic Oil & Gas Ltd. has placed US$20 million in escrow to support its capital expenditure for the Gazania-1 well in Block 2B offshore South Africa, its joint venture partner, Africa Energy Corp. said on Tuesday. “The block has...

Halliburton reported net income of US$263 million for the first quarter of 2022, or US$0.29 per diluted share, a 54% increase from the US$170 million profit from the previous year’s first quarter, or US$0.19 per diluted share. It said its...

Brazil’s state oil company Petrobras finally has a new Chief Executive Officer (CEO) Jose Mauro Coelho, putting an end to the messy public leadership change. Coelho took up his appointment last week in the presence of Brazil’s Minister of Mines and Energy, Bento...

ExxonMobil has discovered over 670 million barrels of oil so far this year at Guyana’s largest deepwater block where well over 10 billion barrels of oil equivalent resources have been found since 2015. On January 5, the U.S. oil major...

(S&P Global Platts) Crude oil production by OPEC and its allies fell in March from February for the first time in more than a year, the latest S&P Global Commodity Insights survey found, contributing to a tightening market thrown...

(Reuters) - The chair of the ad-hoc board of Venezuela's state-owned oil company PDVSA (PDVSA.UL), which controls some of its most important foreign assets, said earlier this month it was very likely that Washington will extend Chevron's license to operate...

Initial estimates for Guyana’s massive gas-to-energy project hover around US$900 million to US$1 billion, with potential to increase, but considering the South American country has zero infrastructure in place and is essentially starting from scratch, one economist says the estimates...

Italian energy major, Eni, has moved to help Europe reduce its dependence on Russian gas, with two major agreements signed to increase supply from Africa. Eni said last Wednesday that it signed an agreement with Egypt’s Natural Gas Holding Company...