BP and Rosneft only oil explorers to deliver 1billion+ barrels in 2021
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
South America
Maersk Drilling bags contract extension off Guyana
Maersk Drilling has landed a contract extension off Guyana, keeping its Maersk Discoverer rig fully booked into 2022.
OSSO forging ahead with international growth strategy
International trade during the pandemic has been something of a double-edged sword for many oil and gas firms.
Balmoral renewables ‘evolution’ brings Europe and Far East export targets
New export markets in renewables are on the cards for Balmoral Group, typically known for its oil and gas buoyancy tech, as its product offering “evolves”.
IMF tips oil rich Guyana to be world’s fourth-largest growing economy in 2021
A global financial institution has forecasted that Guyana’s economy will be among the frontrunners for growth this year.
First oil shipment from Guyana to India sets sail
The first shipment from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from the South American nation in a ship chartered by trader Trafigura, data from Refinitiv Eikon showed on Tuesday.
NXG opens larger Aberdeen HQ and launches Mexico operation
Drilling technology and services firm NXG has invested more than £1million to open new Aberdeen headquarters, and launch an operation in Mexico.
Guyana-Suriname sees rig ‘demand surge’ as region bucks global trend
The Guyana-Suriname basin is helping drive a “surge” of oil rig demand in South America, bucking the global trend of depressed activity, according to new analysis.
Aberdeen & Grampian Chamber of Commerce to shine light on business opportunities between Scotland and Guyana
North-east business leaders will explore the "wealth of new business opportunities" available in Guyana during an industry event next month.
Aberdeen reaffirms links with Guyana as country prepares to make ‘great strides’ in oil and gas post-election
Scores of oil and gas representatives met virtually yesterday to discuss the opportunities available to supply chain companies in post-election Guyana.
Venezuela’s fuel shortage set to get worse after refinery halted
Venezuela’s fuel crisis is poised to deteriorate even further after one of its biggest refineries was halted over the weekend following a nearby oil spill.
Stena Drilling to begin operations off the coast of Guyana “imminently”
Aberdeen-headquartered Stena Drilling is expected to commence operations off the coast of Guyana “imminently” after its vessel arrived on location.
ExxonMobil increases Guyana estimates by two billion barrels, makes another discovery
ExxonMobil has increased its estimated recoverable resources in Guyana by two billion barrels after a hot streak of discoveries at the prolific Stabroek block.
Guyana’s plans to raise oil royalties could ‘diminish attractiveness’
Guyana’s plans to raise oil and gas royalties may “diminish attractiveness” to future investors, according to new analysis.
Echo chief executive steps aside
South-America-focused Echo Energy said today that its chief executive would be stepping down from the role at the end of the year.
Echo says new well strengthens case for developing Argentine field
South-America-focused Echo Energy said today that its new well in Argentina had strengthened the commercial case for a field development.
Echo offers blank canvas for new chief executive
Fiona MacAulay is staring at a blank canvas.
Amerisur confirmed Mariposa well spudded
South America's Amerisur has confirmed its Mariposa-1 well in Columbia has been spudded.
Amerisur pins hopes on pipeline to reverse 2015 loss
Amerisur Resources, the oil and gas producer and explorer focused on South America, recorded a pre-tax loss in 2015 of $25million, compared to a $47million profit the year before.
President makes new board appointment
South America focused President Energy has appointed former Repsol and Petrobras engineer Jorge Dario Bongiovanni as a non-executive director of the company.
Rame inks South American power deals
Independent power producer Rame Energy has signed a number of commercial agreements and a contract to sell two existing Chilean projects under development to InterEnergy Holdings.
Union Oil and Gas acquires latest Peruvian block
Union Oil and Gas Group has taken a majority stake in a high-potential oil and gas block in Peru as part of its expansion plans in Latin America.
Andes Energia clears first debt hurdle
Andes Energia today confirmed it had successfully cleared its first repayment for its $5million debt facility package with Macquarie Corporate Holdings.
Sales boost helps TCO expand its workforce
TCO said it has expanded its workforce by a third after strong sales results for the company. The well completion technologies provider has employed eight new members of staff within the past six months for its UK base, including a new managing director. Paul Betteridge was appointed in March in response to company growth and to focus on TCO’s international expansion.
Mexico licensing auction: Too little, too late?
Mexico may have missed the mark in opening up its energy market to foreign investors as the oil price decline continues to hit, according to a leading expert. Derek Leith, UK head of oil and gas taxation at EY, said the fall in oil price may be a deciding factor in the historic auction for 14 licences in the South American country. Mexico has made the bold move as its rebounds from a decade long decline in oil production. It is estimated there has been an overall loss in that time of around a million barrels of oil per day.