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Summer of milestones in 2017 led to sanctioning of Liza Phase 1 – Exxon Country Manager

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ExxonMobil Guyana Country Manager Rod Henson says the company along with its partners Hess and CNOOC Nexen were able to achieve some key objectives in 2017 which lead to a final investment decision being made for the Liza Phase...
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Gasoline prices just jumped 127% in Saudi Arabia

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(Bloomberg) The cost of living is rising for Saudis this year as the government raises gasoline prices and introduces value-added taxation to plug the budget deficit. The central bank forecasts inflation to average 5.7 percent in 2018 from a negative...
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Brazil’s oil production slips, oil exports up 25%

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(Reuters) Brazil’s oil output fell 1.21% in November from October, regulator ANP said on Jan. 2, after state-run oil company Petróleo Brasileiro SA (NYSE: PBR) carried out maintenance work at some production units. ANP said oil output was 2.595 million...
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Maersk Drilling wins 4-year deal with Tullow for Ghana offshore campaign

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Maersk Drilling has reportedly won a four-year contract with Guyana’s Orinduik and Kanuku Blocks licensee; Tullow Oil, for use of the ultra-deepwater drillship Maersk Venturer offshore Ghana. The contract, signed with the Danish drilling rig operator in December 2017, is...
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Petrobras to pay $2.95B in US settlement for ‘car wash’ corruption scandal

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(Reuters) Brazil's state-controlled oil company, Petroleo Brasileiro SA, said Jan. 3 that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption...
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Oil prices post strongest January opening since 2014

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(Reuters) Oil prices posted their strongest opening to a year since 2014 on Jan. 2, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas Intermediate...
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Major FPSO contract lifts Drydocks World

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(Maritime Standard) The Dubai-based shipyard, Drydocks World, has secured a significant piece of new business. The company has announced that it has signed a contract with SBM Offshore to carry out the construction of the turret mooring system for...
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What could 2018 hold for oil, gas exploration? Guyana high on agenda

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(Hart Energy) Although unfavorable market conditions with lower but slowly improving oil prices left E&P companies’ exploration budgets battered in 2017, the year still managed to bring a few notable gems that put exploration into the positive spotlight. ExxonMobil Corp....
Exploration

Oil firms to step up exploration off Norway this year after poor 2017

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(Reuters) - Efforts to find new oil off Norway are expected to double in 2018, preliminary company plans show, with activity rising in more mature areas after this year’s disappointing Arctic campaign. The pressure to deliver is growing as 2017’s...
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Trump administration proposes rollbacks to offshore oil drilling safety measures

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(Market Watch) Regulators in the Trump administration are proposing to roll back safety measures put in place after the 2010 Deepwater Horizon oil spill, a revision that would reduce the role of government in offshore oil production and return...
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Guyana continues to defy expectations, says U.S. market intelligence firm

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great”...

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