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Transocean leads in industry consolidation

OilNOW -
Transocean has become the market leader for consolidation in the offshore drilling industry with the announcement of its acquisition of Ocean Rig, according to Rystad Energy Senior Offshore Rig Analyst Liz Tysall. This acquisition adds nine high-spec ultra-deepwater drill-ships,...
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Argentina closes energy ministry, institutes new taxes

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As part of broad austerity measures to address a severe monetary crisis, gas-rich Argentina is dismantling its energy ministry and levying duties on all its exports. Following an announcement from President Mauricio Macri that the country will seek a faster...
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Anadarko halts GoM operations ahead of ‘Gordon’

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US oil company Anadarko said on Monday that it has evacuated workers and shut down production on two oil platforms in the northern Gulf of Mexico following hurricane warnings, as tropical storm ‘Gordon’ approaches. The company, which has an exploration...
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World-class Liza field accounts for 15% of all crude found globally since 2015

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UK-based industry analyst Wood Mackenzie says Guyana has been one of the most dominant players in the oil and gas industry since 2015 with a record number of discoveries being made, most notable of which are those in the...
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ExxonMobil says blockade threatens production at Nigeria oil facilities

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(Reuters) - ExxonMobil said on Monday that a blockade by former employees threatens crude production at oil facilities in Nigeria, adding that “disruptions to these operations have the potential to significantly impact revenues.” The company made the announcement in a...
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Noble Tom Madden set for Pluma drill campaign as ExxonMobil ramps up oil search in Guyana

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Fresh off of its 9th discovery offshore Guyana, US oil major ExxonMobil already has a new target in its cross-hairs and will aim to begin drilling operations  around October this year. The company says potential for additional production from significant...
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PM Rowley to OWTC – ‘Buy the refinery’

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In wake of the ongoing storm over the future of Trinidad and Tobago’s Petrotrin, Prime Minister Dr Keith Rowley has announced that the Oilfields Workers Trade Union (OWTU) will be given the first option to buy the beleaguered Pointe-a-Pierre...
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U.S. oil prices rise as Gulf oil rigs evacuated ahead of hurricane

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(Reuters) - U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. U.S. West Texas Intermediate (WTI) crude futures were at $70.05 per barrel at...
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Guyana can become richest corner of the continent

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(Rigzone) Following Exxon Mobil Corp.’s latest Hammerhead-1 discovery, the company’s ninth discovery offshore Guyana, it’s believed the country will create the greatest value of any offshore basin since the downturn, according to Maria Cortez, Wood Mackenzie’s Latin American upstream senior...
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SBM Offshore shares surge after company settles Brazilian suits

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(Reuters) Shares in SBM Offshore surged on Monday on news the Dutch marine oil platform constructor had settled its remaining suit with Brazilian federal prosecutors, clearing the way for it to resume doing business in one of its most...
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Decision by Guyana’s High Court recognising a foreign arbitration award against Venezuela augurs well for Guyana’s reputation as an arbitration hub

In 2024, Guyana’s High Court registered/recognised two foreign awards in court actions brought by ConocoPhillips Gulf of Paria against...

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