HOUSTON, TEXAS (By Pietro D. Pitts, Energy Analytics Institute, 28.Sep.2025, Words: 1,640) — ExxonMobil Corporation is taking aim at the US Gulf Coast to address growing decarbonization needs of industrial clients, while also addressing emissions from its own operations. To this end, ExxonMobil looks to remove up to 100 million […]
Tag: Rystad Energy
Rystad forecasts 300,000 b/d drop in Venezuelan oil production with Chevron exit
PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 10.Mar.2025, Words: 218) — The 27 Feb. 2025 decision by the US to end Chevron Corporation‘s license in Venezuela could result in loss of around 300,000 barrels per day (b/d) by year-end 2025, according to Rystad Energy. That’s about 30% of […]
Deals Show Enduring Appeal of US Gas
(Rystad Energy, 19.Apr.2024) — European companies have been cautiously adding to their upstream positions. More deals could follow. Ed Crooks examines the forces shaping the energy industry globally The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, […]
Venezuelan Production with US Sanctions Not Reimposed, Reimposed: Rystad
(Rystad Energy, 4.Apr.2024) — As the deadline for US sanctions relief on Venezuela ends on 18 Apr. 2024, the outlook for the South American nation’s oil industry appears uncertain. If the US does not reimpose sanctions, Venezuela could surpass the 1 million barrels per day (bpd) threshold as early as […]
Washington Eyes Oil Deal with Maduro Regime: Rystad Energy
(Rystad, 24.Oct.2022) — As the supply side of the oil business continues to tighten globally, calls within the US to ease sanctions on what was once one of Latin America’s largest oil producers continue to gain traction. The Biden administration has been putting out smoke signals to the wider market […]
New Oil Power Guyana to Surpass US Offshore by 2035
(Forbes, 28.Jul.2022) — As the Biden administration focuses on its efforts to end new leasing and drilling for oil and gas in the Gulf of Mexico and other U.S. offshore provinces, investment continues to pour into projects offshore the tiny South American nation of Guyana. A new study by energy intelligence group […]
Ukraine War Could Wipe Out 1 MMb/d of Regional Demand
(Rystad, 2.Mar.2022) — War in Ukraine could result in as much as 1 million barrels per day (bpd) of oil demand being removed from the global market, Rystad Energy research shows. The human and material costs of the conflict have been catastrophic just seven days into the military operation. Russia […]
Colombia’s Energy Self-Sufficiency at Risk
(Rystad Energy, 23.Dec.2021) — Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP) in the future, unless the pace of exploration accelerates, a Rystad Energy report has revealed. The country’s oil […]
Vaca Muerta is the World’s Quickest Growing Shale Play
(Rystad, 29.Sep.2021) — Argentina’s Vaca Muerta shale play, having registered strong growth in oil and gas production and well activity levels in recent months, has emerged as the world’s fastest growing major shale basin, a Rystad Energy report shows. A record number of wells were completed and put on production […]
LatAm Briefs: Argentina Lithium Acquisition, Citgo Challenges
(Energy Analytics Institute, 13.Sep.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina Lithium & Energy Corp. acquiring high quality lithium projects, Citgo Petroleum executives warning of threats from biofuels amid the energy transition, and much more. LATIN AMERICA AND CARIBBEAN Argentina — The Center for International […]
China Crackdown Could Knock Oil Import Growth
(Reuters, 23.Jul.2021) — Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half. Shipments into the world’s […]
Suriname’s Oil Boom Keeps Getting Hotter
(Oilprice.com, 23.Jun.2021) — The Guyana-Suriname Basin, which the U.S. Geological Service estimates hold crude oil resources of up to 33 billion barrels, is in the midst of a massive drilling boom that has seen a swathe of major oil discoveries over the last six years. While most of those finds […]
Vaca Muerta Now Producing At Record Levels
(Rystad, 3.Feb.2021) — The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a […]
Oil Cos. Wonder If It’s Worth Looking For Oil Anymore
(Bloomberg, 16.Aug.2020) — A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil industry as companies scoured the planet for resources. Yet a decade after the discovery of as much […]
Situation In Guyana Goes From Bad To Worse
(Forbes, 18.Jul.2020) — As I wrote earlier this month, the future of the nascent oil and gas industry in the South American nation of Guyana is standing on shaky ground amid the ongoing controversy related to this year’s national elections. The situation only grew worse this week as U.S. Secretary […]
Delays Impact Guyana’s Payara-Pacora Project
(Rystad Energy, 15.Jul.2020) — The development of Guyana’s world-class deepwater oil resources in the Payara-Pacora project of its prolific Stabroek block, whose addition is set to add billions of dollars to the country’s GDP, is already plagued by delays. If prolonged, the delays will decrease the nation’s planned oil revenues, […]
Exxon Restarts Drilling Off Guyana Amid Political Crisis
(Bloomberg, 10.Jul.2020) — Exxon Mobil Corp. resumed drilling in Guyana last month, underscoring its dedication to the offshore hot spot despite the oil price crash and a messy turn in local politics. Two of Exxon’s four drillships went back to work, according to data published Friday by Baker Hughes Co. […]
LatAm Exploration To Be Slammed By Low Prices
(NGI, 7.Apr.2020) — At current prices, Latin American oil reserves at risk of not being developed or pushed out into the future could amount to 16 billion barrels, according to new research by IHS Markit. The analysis looked at oil-targeting projects in Latin America which had a presumed or announced […]
Watchdog: Exxon Guyana Deal ‘Exploitative’
(Forbes, 5.Feb.2020) — As ExxonMobil kicks off production on the world’s largest emerging oil projects, debate has intensified over the terms of contracts signed between the global oil giant and Guyana, the small impoverished South American nation that owns the offshore crude. Oil contracts are already the central issue in […]
Mexico Auctions Moratorium Give Rival Brazil An Edge
(Bloomberg, Peter Millard and Amy Stillman, 9.Jul.2019) — Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. ‘Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has disappointed potential partners by […]
Favorable Terms To Help Guyana Prove Potential
(Rystad, 19.Apr.2018) — Rystad Energy analysis shows that Guyana’s fiscal regime is favorable to oil companies when compared to mature oil and gas development countries but is in line when compared with other countries of equivalent maturity. The International Monetary Fund, quoted early last week by Reuters, argued that the […]