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Whirlwind of condemnation from Guyana private sector over objections to local content law from regional group

OilNOW -
Private sector representatives in Guyana are outraged over a leaked email from Chairman of the CARICOM Private Sector Organization (CPSO), Gervase Warner, who is quoted as stating that Guyana’s Local Content Law contains several provisions that are in contravention...
News

South America’s oil giant and upcoming star looking to forge strategic partnership

OilNOW -
South American oil giant, Brazil, and Guyana, the world's hottest exploration hotspot with an incredible string of discoveries in the Stabroek Block, are poised to deepen their bilateral relations. Towards this end, Guyana's President, Dr. Irfaan Ali held a teleconference...
Exploration

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana

OilNOW -
Brazil's state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana. According to Petrobras reservoir executive...
News

U.S. responding to soaring natural gas prices with major supply ramp up

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By Ed Crooks - Vice-Chair, Americas at Wood Mackenzie “We have furnished the British great material support and we will furnish far more in the future. There will be no ‘bottlenecks’ in our determination to aid Great Britain.” President Franklin...
News

Busy year ahead for Ecuador oil sector as gov’t moves to ramp up investments

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(S&P Global Platts) Ecuador's oil and gas industry is on track for a busy year of privatization and E&P contract overhauls in 2022 as President Guillermo Lasso seeks to open up the heavily indebted Andean country to foreign investment. Lasso's...
News

Products from new Suriname seismic campaign to be available from April 2022

OilNOW -
The first products from a multi-client seismic campaign offshore Suriname will be made available from April 2022. The 3D survey which got underway in November is adjacent to the prolific Block 58 and will cover the up-dip portions of...
News

Mexico will stop exporting crude to U.S. by 2023

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(S&P Global Platts) Mexico's Pemex plans to reduce crude oil exports to the US to 435,000 b/d in 2022 and to stop it completely in 2023 as the state-run company increases its refining capacity to meet domestic fuel demand,...
News

Venezuela doubled oil production this year after hitting lowest point in a decade

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(Reuters) - Venezuela this year almost doubled its oil production from last year's decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos...
News

Argentina’s oil output to surpass 600,000 bpd on Vaca Muerta rally

OilNOW -
Argentina’s massive Vaca Muerta shale play reported yet another month of outstanding oil production growth, with October volumes surpassing 190,000 barrels per day (bpd) for the first time in history on the back of a record-high number of wells...
News

Dutch floater specialist secures US$620 million loan for Brazil FPSO

OilNOW -
SBM Offshore announced Friday that it has secured a US$620 million bridge loan facility for the financing of the construction of FPSO Alexandre de Gusmão. The FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil. Mero is...
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SBM Offshore subsidiary seeks local suppliers for coverall production

Guyana Deep Water Operations Incorporated (GDO), a subsidiary of SBM Offshore, has issued a Request for Information (RFI) to...

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