Oil and gas engineering firm TechnipFMC has been awarded a large contract to provide the subsea production system for ExxonMobil Guyana's Uaru project. The contract covers the supply of 44 subsea trees, 12 manifolds, and associated equipment. This is the...

By Dr. Ulric Trotz - OilNOW Two recent developments on the climate finance landscape cause me some concern.  The first is the agreement at the 2022 Conference of the Parties (COP) of the United Nations Climate Change Convention (UNFCCC) in Egypt,...

ExxonMobil Guyana said more than 5,000 Guyanese nationals are supporting its operations as its projects continue to drive growth in the world's fastest growing economy. Exxon said too that its operations, including the work of its key contractors, are...

Brazil’s state-owned Petrobras has delayed the start-up of three floating production, storage and offloading (FPSO) vessels as its new energy strategy is being crafted.  Petrobras said that first oil dates for the Almirante Tamandaré FPSO and Maria Quiteria FPSO are...

HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that ARO Drilling, its 50/50 joint venture with Saudi Aramco, has appointed Mohamed Hegazi as Chief Executive Officer, effective immediately. Mohamed Hegazi previously served as Chief Executive Officer...

Expansion plans have been eyed for Guyana’s first floating dry dock, owing to the fast-paced development of its marine sector pulling larger vessels to the country’s shores.  Named Dock Yard (DY), the facility has been running since January after getting...

TotalEnergies has announced a profit of US$5.6 billion for the first quarter of 2023. With the lower oil and gas prices, the company has achieved a return on average capital employed of 25% and cash flow of US$9.6 billion. Exploration...

The MODU Stena DrillMax will be used to continue development drilling activities at ExxonMobil Guyana’s Yellowtail well site in the offshore Stabroek Block.  An April 27 Notice to Mariners by the Maritime Administration Department (MARAD) said the exercise will conclude...

Guyana’s Ministry of Natural Resources (MNR) announced approval of the Uaru Field Development Plan and the issuance of the Uaru Petroleum Production License, on April 28.  Hess Corporation, a 30% stakeholder in the project, said it made a final investment...

ExxonMobil Corporation announced first-quarter 2023 earnings of US$11.4 billion, or US$2.79 per share assuming dilution - a drop from US$12.8 billion in the last quarter. The result aligned with its Securities and Exchange Commission (SEC) 8-K filings, triggered by...