S&P Global Commodity Insights’ oil pricing and news expert Patrick Harrington sees Guyana and Brazil’s crude going toe-to-toe when Guyana’s production hikes.
“...as Guyana’s production ramps up, Guyana and Brazilian crude will be in real head-to-head competition,” Harrington shared in...
Italy's Saipem, a leading engineering, drilling, and construction services company, continues to make waves in the energy sector with its recent contract wins. In the span of two days, the company has secured its third contract this month. The...
Guyana’s ascent on the global oil scene has been nothing short of spectacular, as described by S&P Global Analyst Patrick Harrington during a podcast on August 3.
In a few short years, the South American country continues to make waves...
Tullow Oil has decided to sell its stake in the Orinduik Block, located offshore Guyana. At first glance, one might perceive this to indicate a lack of confidence in the prospectivity of the Orinduik Block. However, upon closer inspection,...
SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.
The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
Following an intense seven-hour-long debate, Guyanese lawmakers on August 9 passed the Petroleum Activities Bill which replaces the country’s Petroleum (Exploration and Production) Act of 1986. Natural Resources Minister, Vickram Bharrat who introduced the Bill to the House, underscored...
Tullow Oil Plc (Tullow) announced its decision to divest its complete stake in Tullow Guyana B.V. (TGBV) which encompasses the Orinduik licence in the South American country. The sale will be conducted with Eco Guyana Oil and Gas (Barbados)...
The energy landscape of the Guyana-Suriname Basin is evolving at a rapid pace, with drilling activity set to intensify in the coming years. Noble Corporation projects the need for "6 to 7 ultra-deepwater (UDW) rigs through 2024, with potential...
Guyana’s Natural Resource Fund (NRF) received US$128.21 million (GY$26.73 billion) in royalties and profit oil revenues in July. The NRF closed July with US$1.86 billion. The revenues are being generated from oil production at the ExxonMobil-operated Stabroek Block.
Payment for...
Guyana, the newest oil producer in South America, is emerging as a major player in the global oil and gas industry. The country, with current production of around 400,000 barrels of oil per day, has secured an impressive 4th...
