Wednesday, February 8, 2023

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Global energy crisis forcing more “measured approach” to financing fossil fuels – WoodMac

The ongoing energy crisis has caused investors to rethink financing for fossil fuels. According to Consultancy Group, Wood Mackenzie, the more measured approach accounts for real-world constraints on global financial institutions and corporations in making long-term financing and capital...

Denmark says Nord Stream 2 pipeline leaked gas into Baltic Sea

Denmark’s Energy Agency said Monday that a gas leak was discovered from the Nord Stream 2 pipeline in the Danish part of the Baltic Sea. Nord Stream 2 is a pipeline that runs from Russia to Germany through the Baltic...

Exxon, Shell, CNOOC pursuing offshore carbon capture hub in China

(S&P Global Platts) ExxonMobil, Shell, CNOOC and the Guangdong Provincial Development & Reform Commission on June 27 signed a memorandum of understanding for the evaluation of a world-scale carbon capture, usage and storage project in China, according to the...

Natural Resource Fund records GY$31.5M profit for Q1 2022

The Natural Resource Fund (NRF) recorded a profit of $31.57 million (US$151,412.05) for the first quarter of 2022 solely due to interest earned on deposits. According to Bank of Guyana’s Q1 report, the market value of the Fund at...

EPA grants Environmental Authorisation for Yellowtail Project

The Environmental Protection Agency (EPA) disclosed on Friday that it gave approval ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) to move ahead with the Yellowtail Project. The regulatory body said an Environmental Permit was granted for a period...

Two fundamental laws that will shape Guyana energy development

By Arthur Deakin With 300 million barrels of oil per discovery and an 80% success rate, the largest energy company in the Americas, ExxonMobil, said that Guyana’s “numbers are incredible.” Exxon added that it will inject US$30 billion into the...

CGX says Kawa-1 results so far consistent with expectations

CGX Energy Inc. said on Friday that well results so far from Kawa-1 are consistent with pre-drill expectations, signaling potential positive results from its first campaign offshore Guyana in over 9 years. “The well results thus far are consistent with...

Exxon targeting 2022 start-up for major 12-well campaign at Canje Block

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. (EEPGL) has submitted a Project Summary to the Environmental Protection Agency (EPA) in Guyana for its 12-well exploration and appraisal campaign on the 26,806 km2 Canje Block. Pending approval, drilling operations...

Independent third-party assessment of hydrocarbon resources recommended for Guyana

Even as the Guyanese Government contemplates the array of development possibilities to be derived from the associated gas found so far at the Stabroek Block, it would be in the nation’s best interest to get an independent third-party assessment...

Clean energy push by Shell and BP could affect T&T – Ramnarine

Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says the push to reduce carbon emissions by Shell and BP can potentially affect the economic fortunes of the Twin-Island Republic. Speaking at the Madrid Energy Virtual...

Latest News

BP extends Stena IceMAX contract for drilling in Gulf of Mexico

BP has extended its contract for utilisation of the mobile offshore drilling unit (MODU) Stena IceMAX, Stena Drilling said...