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Brazil oil auction a ‘total disaster’ as bidders stay away

OilNOW -
(Bloomberg) Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd....
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Demand for OPEC crude expected to slide as Guyana, other producers add to supply

OilNOW -
Demand for oil from the Organization of Petroleum Exporting Countries (OPEC) is expected to slide as the oil cartel’s market share shrink in coming years amid a flood of US shale and supply from countries like Guyana, where production...
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Bristow emerges from bankruptcy with successful debt restructuring

OilNOW -
Bristow Group Inc. has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 4, 2019. Bristow said on October...
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TT helicopter operator expanding operations to Guyana with S-76 aircraft

OilNOW -
National Helicopter Services Ltd. (NHSL), a leading Sikorsky S-76® helicopter operator, is expanding operations with its first two S-76D™ aircraft in Guyana, a continuation of the significant growth of Sikorsky and Lockheed Martin in Latin America. NHSL has operated Sikorsky...
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Exxon records $3.2B earnings in Q3 as Guyana value position further improves

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Exxon Mobil Corporation on Friday announced estimated third quarter 2019 earnings of 3.2 billion US dollars as the company continues to make progress on its long-term growth strategy and further improved the value of its position in Guyana with...
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University of Guyana will play pivotal role in Guyana’s oil future

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The discovery of several billion barrels of oil offshore Guyana since 2015 and the start of production, now just months away, have made it clear that the South American country is entering a new era in its history that...
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Mauritania now ties Guyana for 2nd most discovered volumes this year

OilNOW -
On Monday BP announced a major gas discovery, Orca-1, off the coast of Mauritania, which Rystad Energy says is the deepest and largest discovery so far this year. The Norway-based energy research and business intelligence company estimates Orca-1 holds...
News

Shared vision for oil money will open pathway to prosperity

OilNOW -
With just over 750,000 people, Guyana – South America’s newest petroleum hotspot – will begin producing oil within months and with over 6 billion barrels already discovered, revenue from production could profoundly transform the small nation. But the country...
News

China’s CNOOC third-quarter capital spending surges 28%

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CNOOC Ltd, the listed arm of China’s largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing’s push to boost oil and gas exploration and production. Reuters reported that...
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‘One Basin Three Countries’ seminar opens in Suriname

OilNOW -
As Guyana prepares for oil production in a matter of months, focus is continuing to be placed on the attractive Guyana-Suriname Basin, with the convening of the One Basin Three Countries Energy Conference for the Guianas which gets underway...
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Saipem secures US$720 million offshore contracts, including a major Guyana project

Italian engineering firm Saipem has been granted a Limited Notice to Proceed (LNTP) from ExxonMobil Guyana Limited for subsea...

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