Payara, Payara, Payara!
(Kaieteur News, 13.Aug.2020) — Payara will be proof and pave the way. Payara could be the first plank toward petroleum prosperity. That delay pending review is a constructive move. For...
Payara Permit Approval On Hold Until Expert Found
(Stabroek News, 12.Aug.2020) — In a key oil sector decision, President Irfaan Ali last evening said that his government is lobbying for technical and financial support to have an international...
Guyana Could Clear ExxonMobil’s Payara Project
(Argus, 11.Aug.2020) — Guyana's new government will decide by the end of August whether to approve ExxonMobil's 220,000 b/d Payara project, natural resources minister Vickram Bharrat said. Payara is ExxonMobil's...
Guyana Election Casts Shadow Over Oil Finds
(Forbes, 1.Aug.2020) — Hess Corp. reported more good news from its joint development of Guyana’s Stabroek Block with ExxonMobil and CNOOC on Thursday. The company announced that recently-completed appraisal drilling...
Vote Standoff Prolongs Guyana Uncertainty
(Argus, 13.Jul.2020) — Guyana's political stalemate is prolonging uncertainty over the future management of the South American country's fledgling oil sector, and raising the prospect of US sanctions. The declaration...
Argentina Puts Damper On Oil Demand, Production
(S&P Global Platts, 26.Jun.2020) — Argentina has extended a 99-day-old economic lockdown for three more weeks to try to contain a surge in coronavirus cases, including by tightening restrictions on...
Guyana’s Crude Flow Drops On Technical Glitch
(Argus, 9.Jun.2020) — Guyana's crude production has plunged by 65pc to 27,500 b/d from early May because of technical problems with compression equipment. "We do not know how long this...
Winds Shifting In Oil-rich Guyana, Suriname
(Argus, 8.Jun.2020) — Opposition parties pledging oil policy changes in Guyana and Suriname are close to taking power, but incumbents are signaling reluctance to step down. Guyana's opposition People's Progressive...
Petronas Farms Down 50% In Block 52 To Exxon
(Petronas, 19.May.2020) — Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and...
Over 30 Cos Vie For Guyana Oil Trading Contract
(Reuters, 21.Apr.2020) — More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions...
Guyana Needs Protection From Selling Oil At A Loss
(Stabroek News, 14.Apr.2020) — Before we approve Payara and Hammer-head, let’s renegotiate the contract to include control of how much oil is being pumped given market conditions. Dear Editor, Many...
Petrobras Finds Oil At Araucária Prospect
(Petrobras, 2.Apr.2020) — Petrobras informs that it has identified the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt. The pioneer well...
As Guyana Elections Remain Up In The Air
(News America, 8.Mar.2020) — As tension continues in Guyana one week after its general elections and a top court upheld an injunction blocking the elections commission from proclaiming a winner...
Guyana’s Burgeoning Oil Wealth Kindles Contract Row
(S&P Global Platts, 30.Jan.2020) — ExxonMobil's growing oil discoveries offshore Guyana are amplifying domestic calls for a review of production-sharing contract terms on the eve of the small South American...
Hess Announces Oil Discovery At Uaru
(Hess, 27.Jan.2020) — Hess announced another oil discovery offshore Guyana at the Uaru well, the 16th discovery on the Stabroek Block. The company also announced an increase in the estimated...
Guyana Searches For Firm To Trade Its Crude
(Reuters, 23.Jan.2020) — Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the...
CNOOC Says Liza Field Offshore Starts Production
(CNOOC, 20.Dec.2019) — CNOOC Limited announced 20 Dec. that Liza field offshore Guyana has safely commenced production ahead of schedule. Liza Phase 1 development project is located in the Stabroek...
ExxonMobil Plans 31-Well Program In Guyana
(Zacks Equity Research, 6.Dec.2019) — Exxon Mobil Corporation is planning to commence a 31-well exploration campaign offshore Guyana, per Argus. The company has submitted requests to the Environmental Protection Agency...
Why ExxonMobil’s Guyana Success May Have Hurt Petrobras
(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That's why governments that control oil assets are eager to auction them off...
Saipem Inks Subsea Contract In Guyana
(Saipem, 14.Nov.2019) — Milan-based Saipem has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the...
Rosneft Cool On Venezuela’s Sweeter Gas Terms, For Now
(Argus, 6.Nov.2019) — Venezuela is offering sweeter fiscal terms to Russia's state-controlled Rosneft for two offshore natural gas fields that are well-positioned to supply nearby Trinidad and Tobago, but the...
Brazil’s $50bn Oil Boom Is Falling Apart
(Oilprice.com Julianne Geiger, 31.Oct.2019) — Exxon may not be interested in stepping up to the bidding plate at Brazil’s massive $50 billion transfer of rights auction next week, because the...
ANP 16th Round Attracts Record R$8.9bn Signings
(ANP, 10.Oct.2019) — The 16th Bidding Round collected R$ 8.9 billions in signature bonuses, a record value among the concession rounds already held in Brazil. The round will generate investments...
Exxon Mobil Bars Use Of Oil Tankers Linked To Venezuela
(Reuters, Jonathan Saul and Collin Eaton, 4.Oct.2019) — Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to...
Guyana Must Learn To Use Its Riches
(Upstream, Gareth Chetwynd, 26.Sep.2019) — As development on Guyana’s Stabroek block continues apace, it is worth considering that the Liza development took form in an era when low oil prices...
Four Colombia fracking Projects Could Attract $5bn In Yearly Investments
(Reuters, 24.Sep.2019) — Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as...
Hess Says Liza Destiny FPSO Arrives Offshore Guyana
(Hess, 29.Aug.2019) — Hess Corporation announced that the Liza Destiny, Guyana’s first oil production vessel, has arrived at the Stabroek Block. Source: Exxon The Floating, Production, Storage and Offloading (FPSO)...
Suriname Seeking Funds for Offshore Exploration
(Reuters, 16.Aug.2019) — Suriname's state-owned oil company is planning a bond sale next year to finance offshore oil exploration, its chief executive said on Thursday, as it seeks to capitalize...
Guyana Find Progresses Amid Political Tensions
(Forbes, David Blackmon, 29.Jul.2019) — Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the...
US’ Refineries Need Mexican Crude Oil
(CNN, Matt Egan, 5.Jun.2019) — The Trump administration's threatened tariffs on Mexico couldn't come at a worse time for America's oil refineries. Mexico is the No. 2 foreign source of...
Hess Sanctions Liza Phase 2 Development Offshore Guyana
(Hess, 3.May.2019) — Hess Corporation today announced it has received regulatory approval from the government of Guyana and has made a final investment decision to proceed with the second phase...
CNOOC Limited Announces Key 1Q:19 Operational Statistics
(CNOOC Ltd. 25Apr.2019) — CNOOC Limited announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil...
Qatar Petroleum Wins Exploration Rights In 5 Offshore Blocks In Argentina
(Qatar Petroleum, 16.Apr.2019) — Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. Mr. Saad Sherida Al-Kaabi. Source: Qatar...
Political Shakeup In Oil-Rich Guyana
(RT, 27.Mar.2019) — A political shakeup in oil-rich Guyana, which neighbors OPEC’s Venezuela, in South America. RT America’s Michele Greenstein joins Scottie Nell Hughes to explain how oil discoveries have...
Eco Atlantic Updates Reserve Estimates Offshore Guyana
(Eco Atlantic, 18.Mar.2019) — Eco (Atlantic) Oil & Gas Ltd. announce that Gustavson Associates LLC of Boulder Colorado has completed and delivered an updated NI 51-101 compliant Competent Persons Report...
Why Billions Of Barrels Of Oil Go Untapped In Brazil
(Bloomberg, Peter Millard, 3.Mar.2019) — There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why...
Exxon Getting EPA Approval For Liza Phase 2
(Stabroek News, Marcelle Thomas, 24.Feb.2019) — ExxonMobil is expected to receive its permit from the Environmental Protection Agency (EPA) this week for its Liza Phase 2 operations in the Stabroek...
Pemex Crude Output Lowest Since Records Began
(Reuters, 23.Feb.2019) — Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday,...
Guyana Hopes Oil Will Bring Wealth – Not Corruption And Crisis
(The Conversation, 21.Feb.2019) — When ExxonMobil begins oil production in Guyana next year, mining crude from its seven new deepwater wells, life may change dramatically in this small South American...
Eco (Atlantic) Contracts Stena Forth To Drill Offshore Guyana
(Eco Oil & Gas, 20.Feb.2019) — Eco (Atlantic) Oil & Gas Ltd., along with its partners in the Orinduik Block, offshore Guyana, Total E&P Activités Pétrolières and Tullow Guyana B.V....
The Surprising Next Oil Superpower: Guyana
(Axios, Steve LeVine, 8.Feb.2019) — On the coast of South America, just north of Brazil, lies the impoverished former British colony of Guyana, distantly remembered for a bizarre mass suicide...
Esso Invites TT Firms To Sign Up
(Trinidad and Tobago Newsday, Richardson Dhalai, 7.Feb.2019) — TT energy companies are being encouraged to sign up for a chance to be a part of Guyana’s oil and gas exploration...
Is Guyana In Control Of Its ‘Oil Dorado’?
(Stabroek News, Phil Miller, 28.Jan.2019) — Guyana’s High Commission in London threw open its doors on Thursday night to tell investors about the country’s newly discovered oilfields. Tellingly, the event...
Venezuela Disputes Guyana’s Account Of Incident Involving ExxonMobil Ships
(CMC, 11.Jan.2019) — Venezuela has disputed Guyana’s account of what Georgetown said was the dangerous incursion into local waters after a Norwegian ship hired by ExxonMobil was “intercepted” by a...
ExxonMobil Issues Statement On Activities In Guyana
(ExxonMobil, 26.Dec.2018) — ExxonMobil said today that drilling and development operations offshore Guyana are unaffected by an incident involving seismic acquisition vessels on Saturday. Two vessels operated by Petroleum Geo-Services...
Venezuela Calls U.S. Comments On Guyana Dispute ‘Interventionist’
(Reuters, 25.Dec.2018) — Venezuela’s foreign ministry on Tuesday described as “interventionist and disrespectful” U.S. comments on a weekend incident in which the country’s navy stopped two ships exploring for oil...
Hess Corporation Investor Day Highlights: Guyana (Select Slides)
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Hess Sees Oil Output Driven By Bakken, Offshore Guyana Projects
(Reuters, 12.Dec.2018) — U.S. oil and gas producer Hess Corp. said Dec. 12 it expects output of barrels of oil equivalent to grow more than 10% per year compounded through...
Tullow Oil Eyes Next Hot Spot, Gears Up For Guyana Probe
(Hart Energy, Velda Addison, 11.Dec.2018) — When it comes to navigating the intricacies of the unknown, Tullow Oil is considered an expert, particularly in Africa where it has discovered over...
Mexico’s New President Throws Down Gauntlet To Oil Majors
(Reuters, Frank Jack Daniel and David Alire Garcia, 5.Dec.2018) — Mexico’s new president, Andres Manuel Lopez Obrador, said on Wednesday he would not cancel contracts issued to foreign and national...
Tullow Oil Plans To Drill First Guyana Well In Third Quarter Of 2019
(Reuters, 5.Sep.2018) — Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries...
