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ExxonMobil to ramp up Permian production to 600,000 barrels

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ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland...
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The death spiral of Venezuela’s oil sector and what can be done about it

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(Forbes) The Venezuelan oil sector is on a death spiral despite having one of the largest resource endowments in the world. According to its report to OPEC, Venezuela’s production was 1.62 million barrels per day (b/d) in December 2017, a...
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Brazil’s Petrobras promises dividend as soon as it returns to profit

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(CNBC) The semi-public company Petrobras has promised to start paying dividends to shareholders again, as soon as it returns to profit after being hit by several scandals in recent years. Petrobras, one of the largest companies in Latin America and...
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Guyana/Suriname explore joint O&G shore base facility

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The Guyana Government is looking to put systems in place for the country’s oil and gas industry which could stretch well into the next half century. As such, serious consideration is being given to the establishment of an onshore...
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Five missing after Oklahoma oil and gas drilling site explosion

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(Reuters) - Five workers were missing after a fiery explosion on Monday at an oil and gas drilling site in eastern Oklahoma, officials said. The fire had been fed by gas from a well being drilled for Red Mountain Energy...
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TT’s Energy Minister says changes coming to work permit rules

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Trinidad and Tobago’s Energy Minister Franklin Khan says work permit qualifications for energy sector staff will soon be amended to help address under-employment as well as ensuring greater transfer of skills to locals, reports Newsday. “There were 241 applications for...
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Trinidad’s signature energy conference begins today

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Under the theme Maximising Value through Collaboration, the 2018 Trinidad and Tobago Energy Conference is set to begin today at the Hyatt Regency hotel in Port-Of-Spain and will conclude on January 24. The 2018 conference will feature keynote speeches and...
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SeaRose FPSO operations suspended in Canada

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(Maritime Executive) The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has suspended operations at Husky Oil Operations' SeaRose FPSO after investigation into an incident last year when an iceberg entered the vessel's 0.25 nautical mile Ice Exclusion Area. The SeaRose FPSO is located in...
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Gulf of Mexico could pump record oil in 2018 – Wood Mac

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(Chron) Oil and gas production could reach an all-time high in the deep waters of the Gulf of Mexico this year as companies cut costs and spend less on exploration. Deepwater output in the Gulf could climb to 1.9 million...
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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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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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