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Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

OilNOW -
Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made to date offshore the South American country. Rudolf Elias, CEO of Suriname’s National Oil Company, Staatsolie Maatschappij Suriname NV, during a...
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Hess confirms potential for 10 FPSOs at Guyana’s Stabroek Block

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Hess Corporation said on Wednesday the development of hydrocarbon resources offshore Guyana now has the potential for up to 10 floating production storage and offloading (FPSOs) units particularly as the estimated gross discovered recoverable resources have increased to approximately...
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Oil, gas to play key role for decades despite energy transition says Petronas CEO

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(S&P Global Platts) Malaysia's state-run Petronas will be pursuing most of its oil and gas projects, but by using more cost-effective and cleaner processes, as it strongly believes that those fuels will have a major role to play for...
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Brent drops below $40 as renewed pandemic restrictions cloud outlook

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(Bloomberg) --Oil fell sharply with broader markets as renewed restrictions on movement in Europe clouded the outlook for consumption once again. Crude futures in New York fell 4.6%, while those in London retreated below $40 a barrel, the lowest since...
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Stabroek Block resources jump to 9 billion barrels of oil equivalent – Hess

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Hess Corporation, a 30 percent stakeholder at the Stabroek Block offshore Guyana, said on Wednesday that the estimated gross discovered recoverable resources have been updated to approximately 9 billion barrels of oil equivalent (boe) on the block. In releasing its...
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Total makes second major gas discovery in South Africa

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French multinational oil and gas company Total has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. The company said Wednesday this...
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Guyanese have ‘transferrable skills’ that can be used for oil and gas says OES VP

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In addition to employing Guyanese in the oil and gas industry, local content development also includes investing in these human resources and developing the skills and capacity needed to support the exploration and production activities in the South American...
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CNOOC records 131.2 million boe for Q3 2020, Guyana remains key overseas project

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China National Offshore Oil Corporation (CNOOC), a 25% stakeholder in Guyana’s Stabroek Block, said it achieved a total net production of 131.2 million barrels of oil equivalent (boe) for the third quarter of 2020, representing an increase of 5.1%...
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Venezuela crude inventories mount as exports drop ahead of sanctions deadline

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(Reuters) Crude inventories at Venezuela’s main oil export terminal, Jose, have hit their highest levels since August as customers shy away from state oil company Petroleos de Venezuela due to U.S. sanctions, a document seen by Reuters on Monday...
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BP drops operatorship of sensitive exploration block offshore Brazil

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(S&P Global Platts) BP has handed over operatorship of an environmentally sensitive exploration block offshore Brazil in the Amazon Delta to state-run oil company Petrobras, BP confirmed Oct 26. Petrobras will take over the operation of the FZA-M-59 block in...
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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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