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U.S. oil industry set to break record, upend global trade

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(Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And...
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Exxon hits hydrocarbons in Papua New Guinea

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ExxonMobil announced on Monday that it encountered hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea. “We are currently evaluating the well results and together with our co-venture partners will assess the...
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Need for pipe yards, fabrication and fuel supply facilities in Guyana increases with Liza Phase 2

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When the proposed Liza Phase 2 development project comes on stream in 2022 approximately 120 miles offshore Guyana, the need for a number of shorebase services will significantly increase. ExxonMobil Guyana says the project will utilize onshore infrastructure which may...
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Shell advances Penguins redevelopment

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(Offshore Engineer) Shell will go ahead with its Penguins fields redevelopment in the UK North Sea in what will be its first new manned installation in the northern North Sea in almost 30 years. The project will see a newbuild...
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TIGI signing bonus court case against Guyana Gov’t hits ‘snag’

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Litigation brought against the Guyana Government by anti-corruption watchdog agency Transparency Initiative Guyana Inc. over the US$18 million signing bonus it received from ExxonMobil hit a snag in the courts on Monday as Chief Justice Roxanne George was unable...
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Total closes $1.95bn Brazil pre-salt deal with Petrobras

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Brazilian oil and gas corporation Petrobras and international oil major Total announced Monday that they have reached a milestone in the realization of their Strategic Alliance, signed in March 2017, with the transfer from Petrobras to Total of 35%...
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Tullow Oil tiptoes back into exploration

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(Reuters) - Tullow Oil is cautiously reviving its search for new oil and gas resources in Africa and Latin America, its chief executive said, warning that the sector will need to walk a thin line to balance spending discipline...
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Maduro urges Latin American states to join oil & gold-backed cryptocurrency project

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(RT) Venezuela’s leader Nicolas Maduro has invited members of the regional ALBA-TCP bloc to join him in launching a new cryptocurrency. Named petro, the cryptocurrency will be backed by the country’s oil, gas, gold and diamond riches. “I have a...
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China’s CNPC looking for new gas sources in Myanmar

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(Reuters) A subsidiary of China National Petroleum Corp. (CNPC), the country’s largest oil producer, is looking for new sources of natural gas in Myanmar to feed a pipeline between the two nations, the China Daily reported on Jan. 12. CNPC Southeast Asia...
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Conservation Int’l urges Guyana to use oil resources to fund ‘Green State Strategy’

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Guyana is being urged to use revenue that will be earned from oil production to fund the realization of its ‘Green State Development Strategy’ as part of the diversification of the country’s economic base, in order to avoid having...
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Offshore Frontier Solutions wins contract for ExxonMobil’s Hammerhead FPSO in Guyana

Offshore Frontier Solutions Pte. Ltd. (OFS), a joint venture between MODEC Inc. and Toyo Engineering Corporation, has secured a...

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