News

(CNBC) Norway's trillion-dollar sovereign wealth fund plans to dump oil and gas companies from its benchmark index, the finance ministry announced on Friday. The move, initiated by Norges Bank which manages the fund, is designed to make the Norwegian government's...

Chinese state-owned Shanghai Waigaoqiao Shipbuilding (SWS), the company contracted by SBM Offshore to build the Fast4WardTM hull for the Liza Unity FPSO, has officially launched its offshore engineering arm, Waigaoqiao Qingdong Offshore Engineering Company, located at Qidong ship industrial park, Jiangsu. Seatrade Maritime News reports...

(Reuters) - Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday. Cost cuts were high on oil firms’ agenda following a sharp fall in crude...

Houston-based Apache Corporation is set to spud its first well offshore Suriname by mid-year in Block 58 which sits adjacent to sections of the prolific Stabroek Block where ExxonMobil has found more than 5.5 billion barrels of oil equivalent. Apache...

President of the American Chamber of Commerce Guyana Inc. (AmCham) Zulfikar Ally is calling for secure investments of oil revenues and economic diversification in Guyana in order to guard against the pitfalls experienced by some oil-producing nations. He was delivering...

In wake of the two recent discoveries announced in February 2019 by US oil major ExxonMobil, bringing the total finds offshore Guyana to 12, the company has since increased its gross recoverable resource estimate to greater than 5.5 billion...

ExxonMobil’s prime contractor for the manufacturing and installation of subsea equipment, TechnipFMC, days ago broke ground on its new location at Houston, on the East Bank of Demerara in Guyana. According to ExxonMobil Guyana, the new TechnipFMC location will initially...

(S&P Global Platts) Surpassing Russia, Brazilian crude oil shipments for China's independent refineries topped the list in February at 2.17 million mt, S&P Global Platts monthly survey showed Tuesday. Total imports from Brazil were just 54,000 mt more than those...

ExxonMobil said on Tuesday it has revised its Permian Basin growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. The...

Over the next few months Italian oil and gas contractor Saipem will be ramping-up operations offshore Guyana as preparatory work gets underway ahead of the arrival of the Liza Destiny in Q3. This includes a survey of the sea floor...