Guyana's revenue from oil exports and royalties this year is expected to climb 31% to $1.63 billion, Finance Minister Ashni Singh said on Monday, on higher output from the addition of a third production facility near year-end. The South American…
Exxon Mobil Corp. is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview. The efforts…
The planned restart of the second process platform on Equinor's Johan Sverdrup oilfield has been postponed due to an equipment fault, and repairs are now ongoing, a company spokesperson told Reuters on Monday. Equinor's Sverdrup field last week suffered an outage due to a loss of power supply…
French oil major TotalEnergies has approved the final investment decision for the Lapa South-West oil development located in the Santos Basin, 300 kilometers offshore Brazil.The company operates the project with a 45% interest. Its partners are Shell (30%) and Repsol Sinopec (25%)…
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.Since…
FPSO leasing firm BW Offshore has signed another short-term extension for Abo FPSO offshore Nigeria.The contract extension is with Nigerian Agip Exploration Ltd, a subsidiary of the Italian oil firm Eni. The extension runs until March 31, 2023…
BP produced 20.4 million tonnes of oil in Azerbaijan in 2022, the energy ministry said on Friday.Gas production from the Azeri-Chirag-Guneshli (ACG) field totaled 13.4 billion cubic meters (bcm), the energy ministry said, while 25.2 bcm was produced from the Shah Deniz gas project…
Inpex Corp, Japan's biggest oil and natural gas explorer, aims to accelerate its expansion of production and sales of liquefied natural gas (LNG) on the premise that LNG market will remain tight in the mid-term, its CEO said on Thursday. 'Global…
Germany's Wintershall Dea aims to produce a record 200,000 barrels of oil equivalent per day (boed) from Norwegian oil and gas fields in 2023 and will continue to expand its business there, the head of the company's Norwegian unit told Reuters…
China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal. The state-controlled offshore oil and gas company produced about 620 million boe last year…
Guyana wants Indian companies to invest in its oil and gas sector as the South American nation aims to expand its nascent energy sector, a senior Indian foreign ministry official said on Tuesday. Guyana's President Mohamed Irfaan Ali and Suriname's President Chandrikapersad 'Chan' Santokhi…
Russia has restored oil output at its Sakhalin-1 project after struggling with production following the exit of its previous operator Exxon Mobil Corp due to sanctions, an industry source said.Oil output from Russia's Sakhalin-1 project has recovered to 140…
Oil and gas company BW Energy has started drilling the first production well on the Hibiscus / Ruche Phase 1 development in the Dussafu Block offshore Gabon. The company said Monday that drilling operations had started in the first week of January…
Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production…
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected…
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