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OPEC July oil output surges as Gulf voluntary cuts end: survey

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(Reuters) - OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members...
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September time-frame for Payara approval “very important” – Neil Chapman

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Guyana Government approval of the 220,000 barrels per day Payara Development Project by September is being viewed as “very important” if ExxonMobil is to capitalize on a crucial window of opportunity to get the project going without further delays. The project was...
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Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

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US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache's first exploration well on...
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Venezuela supreme court approves extradition request to Italy for ex-oil czar

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(Reuters) - Venezuela’s supreme court said on Friday it had approved a request to Italy for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, on corruption charges. Authorities...
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Offshore drilling company Noble Corp. files for bankruptcy

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Noble Corporation plc announced on Friday that it has entered into a restructuring support agreement with two ad hoc groups of the largest holders of the Company's outstanding bond debt regarding a consensual financial restructuring transaction that will significantly...
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Exxon, Chevron earnings gutted by virus-driven demand slump

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(Bloomberg) Exxon Mobil Corp. and Chevron Corp. posted the worst losses in a generation after the pandemic and a global crude glut combined to batter almost every part of their businesses. Exxon’s $1.1 billion second-quarter loss was the deepest in the company’s modern...
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New study reaffirms Stabroek block’s fiscal terms in line with countries sharing similar characteristics

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In its most recent report on Guyana, oil and gas industry analyst Wood Mackenzie says the Stabroek block fiscal terms ranks well compared to several other countries with similar circumstances regarding indicators such as State share, payback period and...
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Stabroek block consortium looking to move forward expeditiously with Payara once Guyana elections impasse is resolved

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The Stabroek block consortium is looking to move ahead expeditiously with the third development offshore Guyana at Payara once the elections impasse in the South American country is resolved and final approval granted for the project. Speaking on its Q2...
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Guyana’s first EITI validation set to commence in October

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Even as Guyana prepares for the compilation and publication of its second Extractive Industries Transparency Initiative (EITI) Report for fiscal year 2018, the country is rapidly getting set for its first EITI validation, due to commence in October 2020. Over the...
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Apache’s Q2 loss narrower than expected, sales top

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(Nasdaq) Apache Corporation reported second-quarter 2020 loss per share — excluding one-time items — of 74 cents, narrower than the Zacks Consensus Estimate of a loss of 99 cents. This better-than-expected result is led by higher-than-anticipated production volumes. Precisely,...
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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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