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UK oilfield services company moves into Guyana market as oil industry takes off

OilNOW -
Swire Oilfield Services, a leading global provider of offshore containers and oilfield services, announced a strategic partnership agreement today with Global Oilfield Services Inc, for the supply of offshore containers and equipment to support the growing energy market in...
News

TechnipFMC warns of impairment impact

OilNOW -
(Market Watch) TechnipFMC PLC (FTI.FR) said late Monday in its preliminary results that revenue for the full year is expected to meet guidance and that it expects impairment charges to impact the fourth quarter. The London-based oil-and-gas company said revenues...
News

Frontera hits pay in Colombia as Guyana drill campaign nears

OilNOW -
Frontera Energy Corporation on Thursday announced a successful discovery in Colombia in the Lower Magdalena Valley, striking a combination of light oil and natural gas. The company said it looks forward to further successes in Colombia, Ecuador and Guyana. Richard...
News

China reneges on commodity deals worsening global trade chaos

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(Bloomberg) Global commodity trade plunged deeper into chaos as Chinese companies started walking away from purchase contracts because of the spread of the deadly coronavirus. A Chinese buyer of liquefied natural gas and a copper importer declared what’s known as...
News

Transparency body to receive first trades in oil data from Guyana’s Dept of Energy

OilNOW -
The Guyana Extractive Industries Transparency Initiative (GYEITI) will soon be receiving information regarding Guyana’s first trades in oil now that the country has commenced production. The local EITI chapter, headed by Dr Rudy Jadoopat, held a meeting with the Department...
News

Petrobras to sell stake in Brazil field

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(Zacks) Petrobras PBR and minority partner Chevron CVX announced plans to sell their stakes in the Papa-terra deep-water oilfield located in Brazil’s Campos Basin. Per Petrobras, the plan is in sync with its strategy to cut costs and improve capital...
News

Saipem signs MoU with Gulf Petrochemical Industries Company

OilNOW -
Italian firm Saipem has signed a Memorandum of Understanding (MoU) with Gulf Petrochemical Industries Company (GPIC), a joint venture equally owned by the National Oil and Gas Holding Company in the Kingdom of Bahrain, SABIC Agri-nutrient Investments in the...
News

Guyana’s revenue take pegged at 60% as production set to hit 1.2 million bpd – Rystad Energy

OilNOW -
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil production is expected to grow rapidly in the...
Exploration

Over 50 prospects identified on Suriname’s Block 58

OilNOW -
Apache Corporation has identified over 50 prospects on Block 58 offshore Suriname where it has made the first deepwater discovery in the South American country in an area that runs parallel to ExxonMobil’s prolific Stabroek Block offshore Guyana. The Maka...
News

New estimate pushes Orinduik prospective resources to over 5 billion BOE

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. said on Monday that an updated Competent Persons Report (CPR) on the Orinduik Block offshore Guyana has upped the gross prospective resources to 5.141 billion barrels of oil equivalent, from the previous estimate...
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Middle East tensions could lift Guyana’s oil revenues, but capacity risks remain – Orinoco Research

Rising geopolitical instability in the Middle East could increase oil revenues for Guyana while also exposing capacity constraints across...

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