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IMF urges Mexico state oil company to urgently overhaul its business strategy

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(S&P Global) Pemex needs a complete overhaul that includes modifications to its business strategy and reforms to its governance and procurement as the state oil company puts a drag on the Mexico's growth, the International Monetary Fund said. Despite missing...
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ExxonMobil to conduct oil spill response maintenance activity for Guyana operations

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ExxonMobil Guyana announced Thursday via its facebook page that it will be conducting planned maintenance on equipment used for oil spill response operations over the duration of five days, beginning November 5. “This maintenance activity will involve deploying some offshore...
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Curb in oil production pushes Guyana’s 4th crude lift back by a month – Bharrat

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The curb in oil production offshore Guyana to reduce the volume of gas being flared has resulted in a push back in the timeline for the country’s 4th million-barrel crude lift. ExxonMobil, operator at the Stabroek Block, had taken a...
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Oil down more than 1% as markets whipsawed by U.S. election uncertainty

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(Reuters) - Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, but the Republicans look likely to retain Senate control, decreasing the chances of any huge COVID-19 relief...
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Shell farms into South Africa deepwater acreage

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(S&P Global Platts) Shell has farmed in to South African deepwater exploration blocks days after Total announced a second gas and condensate discovery nearby, as interest grows in a potential new gas condensate hub off the country's south coast,...
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Guyana oil production will grow tenfold, contribute to uptick in S/America’s output – GlobalData

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Rapid development of oil fields offshore Guyana will result in production increasing tenfold in the coming years, and along with Brazil, will see South America’s output surpassing volumes coming from North America by 2024. While several projects in Brazil and...
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Bureaucracy, red tape must not obstruct O&G development in Guyana, Sea Defence Board hears

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One of the state boards responsible for the approval of shorebase and waterfront developments, and other such facilities, has been warned that bureaucracy and red tape must not impede Guyana’s development, as the country is on track to experience...
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Use O&G revenue to unlock infrastructure, human capital – urges private sector leader

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Guyana’s Private Sector Commission (PSC) Chairman, Nicholas Deygoo-Boyer says the billions of dollars expected from oil production should be used to help develop infrastructure and unlock the power of human capital in the South American country. In a recent virtual...
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Venezuela oil exports fall to new historic low

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(Reuters) - Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according...
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Qatar using $40 oil price to formulate its budget

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(Bloomberg) --Qatar will base its budget on an oil price of $40 a barrel, below what markets expect, as the gas-rich Gulf nation seeks to reduce the impact on its finances, according to its ruler. The move will help Qatar...
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Guyana and Suriname leaders advance talks on trade, energy, and connectivity at high-level meeting

Joint Statement - Meeting Between Jennifer Geerlings- Simons, President of the Republic of Suriname and Dr. Mohamed Irfaan Ali,...

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