"Guyana" News

ExxonMobil Targets 180,000 bpd of Oil at Guyana’s Hammerhead Project

Feb 18, 2025

A consortium led by U.S. major Exxon Mobil plans to produce up to 180,000 barrels per day (bpd) of oil and 95 million cubic feet per day (mmcfd) of gas at its seventh project in Guyana, Hammerhead, according to a document published by the country's environmental agency on Monday…

Guyana Set to Terminate CGX and Frontera's License for Corentyne Offshore Block

Feb 11, 2025

Frontera Energy Corporation and CGX Energy have received a notice from the Government of Guyana for the cancelation of license for the Corentyne block offshore the South American country.According to the joint venture partners, Guyana has taken the position that the license…

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Mar 27, 2025

China National Offshore Oil Company (CNOOC) has posted an 11.4% net profit growth in 2024, marking a record year of oil and gas production, which has been increased by 7% compared to a year earlier.In 2024, CNOOC recorded a net oil and gas production of 726…

Liza Unity Receives ABS SUSTAIN-2 Notation

Mar 12, 2025

The ABS-classed Liza Unity has become the first FPSO in the world to receive the SUSTAIN-2 notation from ABS.The notation is the next level in the vessel sustainability program developed by ABS to help fleets meet the environmental and human…

Guyana to Greenlight Two Oil and Gas Projects This Year

Feb 03, 2025

Guyana's government plans to issue two licenses this year for oil and gas projects, one for Exxon Mobil's seventh development in the country, Hammerhead, and one for the nation's first natural gas development, Energy Minister Vickram Bharrat told Parliament on Friday…

Higher Oil Output at Permian, Guyana Lifts ExxoMobil’s Quarterly Profit

Jan 31, 2025

ExxonMobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.Its adjusted profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1…

Petrobras Cleared to Clear Corals Off Drilling Vessel

Mar 11, 2025

Petrobras obtained approval from the country's environmental agency to clear corals from the underside of the drilling vessel it plans to use in the Foz do Amazonas region, Reuters reports. Its February 10 request was granted on Monday for the…

Staatsolie Looks to Secure $1.5B to Join GranMorgu Project Off Suriname

Feb 24, 2025

Suriname's Staatsolie needs to secure an unprecedented $1.5 billion in bank financing this year to ensure it can participate in the country's Gran Morgu energy project, the head of the state-owned company told Reuters.The project, led by TotalEnergies…

SBM Offshore's 2024 Revenue Soars 35% to Record High

Feb 20, 2025

Dutch oil and gas services firm SBM Offshore's annual revenue jumped 35% to a record high in 2024, driven by the sale of its floating production, storage and offloading vessels (FPSO) in Suriname and Guyana, the company said on Thursday.SBM Offshore's shares rose 9…

US Oil Output Projection Raised for 2025, says EIA

Feb 11, 2025

U.S. oil production is expected to reach new heights in 2025, surpassing earlier projections, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook. The EIA now forecasts U.S. crude oil production will average 13…

Exxon Wants to Keep Option for Hess Guyana Assets

Dec 16, 2024

Exxon Mobil wants to preserve its right of first refusal in Hess Corp's sale of its Guyana oil production assets because of the work it has put into developing the country's offshore fields, two of its top executives said on Wednesday.A three…

US Oil Majors Set to Curb ‘Drilling Boom’ Expectations Despite Trum Calls

Jan 28, 2025

Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to 'drill, baby, drill.'Big Oil begins reporting fourth-quarter results this week…

Trinidad and Tobago Put 26 Deepwater Oil and Gas Blocks on Offer

Jan 29, 2025

Trinidad and Tobago on Tuesday offered 26 offshore oil and gas blocks in its largest-ever auction of areas for deepwater exploration and production, according to an official notice.The twin-island Caribbean country, Latin America's largest exporter of liquefied natural gas (LNG)…

Uncertainty Surrounds Guyana Gas Development

Nov 25, 2024

Doubts are growing over Guyana's pick of a little-known U.S. startup to craft and develop projects to monetize its vast untapped natural gas resources that could cost up to $30 billion. Year-old Fulcrum LNG faces financing hurdles that could derail its selection…

Canadian Oil Firm Looks for Ways to Keep Guyana’s Offshore Block

Dec 13, 2024

Toronto-listed Frontera Energy and partner CGX Energy are seeking alternatives to resolve a dispute with Guyana over rights to retain an offshore block where they found oil, but should they fail to reach an agreement, the matter is set to go to an arbitration court…

Current News

VARD Snags $125m Shipbuilding Deal for Subsea Contruction Vessel

VARD Snags $125m Shipbuilding

Imrandd Expands Work Scope for Apache’s North Sea Assets

Imrandd Expands Work Scope for

Mitsui’s STATS Lands Malaysian Pipeline Isolation Job

Mitsui’s STATS Lands Malaysian

Global Trade War Worries Grow as Trump Unveils Sweeping Tariffs

Global Trade War Worries Grow

Subscribe for OE Digital E‑News

Offshore Engineer Magazine