Exxon to build large-scale gas projects in Guyana, a country dominated by oil
Exxon Mobil, the U.S. oil giant, announced a massive project on Wednesday to increase natural-gas production and supply in Guyana. This follows the government's request for more gas as fuel to power onshore projects and petrochemical ones.
Guyana and Dominican Republic make progress on oil drilling, refining
Dominican President Luis Abinader announced on Tuesday that Guyana and Dominican Republic have made progress in negotiating agreements for offshore oil exploration, a fertilizer factory and possibly a refinery to be built in South America.
Brazil adheres to OPEC+ Cooperation letter; No output caps
The Brazilian energy ministry announced on Tuesday that the country has decided to adhere the OPEC+ declaration of cooperation. This formalizes a decision it first made in 2023. Brazil is the biggest oil producer in South America.
JPMorgan Upgrades YPF and Expects Further Growth for the Argentine Energy Sector
In a client note, JPMorgan analysts raised their rating of Argentine oil company YPF. They said that the energy sector in South America has more room to grow as part of its "economic transformation". The U.S.
Shell's former US offshore wind leader Orsted replaces Shell's executive
Amanda Dasch, Shell's director of renewables for the Americas, will join Danish offshore wind company Orsted as its head of U.S. operations in January. Shell has announced that it will stop investing in…
Exxon continues to discuss shallow-water blocks in Guyana's auction, the company reports
Exxon Mobil, the U.S. oil giant and its partners continue to negotiate with Guyana’s government about terms for developing an oil block in shallow water. An Exxon spokesperson confirmed this on Monday.
Fourth oil production vessel to leave Guyana in Q1 of 2025
The CEO of U.S. oil producer Hess John Hess stated on Wednesday that Guyana's fourth floating production, storage and offloading facility (FPSO) is expected to depart the South American nation in the first quarter of next year.
French farmers take to the streets in protest at Mercosur trade negotiations
Farmers protested across France Monday against the prospect of an agreement between the European Union (EU) and South America’s Mercosur bloc that will intensify the competition in the French agricultural sector.
The US climate envoy said that work would continue despite Trump’s return
John Podesta, U.S. Climate Envoy, urged governments on Monday to believe in the promise of the United States to combat global climate change. He said Donald Trump could slow down, but not stop the transition away from fossil fuels…
Fugro is confident that it will achieve its revenue growth target of 2024 as the wind and LNG markets stabilize.
The CEO of Dutch geological data specialist Fugro said that the company is confident in meeting its target of mid-single-digit revenue growth for full-year, as it anticipates the wind energy and LNG market to stabilize after next week's U.S.
Palms slide on profit-taking after MPOB data that is bearish
Malaysian palm futures reversed gains made earlier in the week on Thursday, as profit-taking affected the market after the Malaysia Palm Oil Board (MPOB), released its demand and supply statistics. The…
Sources: TotalEnergies will sign a $10 billion deal for Suriname's offshore project
Four sources familiar with the project said that TotalEnergies, a French oil company, will sign the final investment decision on Tuesday, for the first offshore oil and natural gas development of Suriname.
Palmetto gains for the fourth time in a row on the strength of rivals; concerns about output cap gains
Malaysian palm futures continued to rise on Monday, extending gains for the fourth consecutive session. The increase was capped by concerns about output due to poor weather conditions experienced in the second largest producer in the world.
VEGOILS - Palm extends its gains over rival oils; bad weather in Malaysia prompts concerns about output.
Malaysian palm futures were up for the fourth session in a row on Monday, boosted by gains in edible oils. However, the market was still vulnerable due to concerns about production in light of the poor…
Analyst Mistry predicts that Malaysian palm oil will trade between 3,700-4 500 rgt/T by mid-2025.
Dorab Mistry, an industry analyst, said that Malaysian palm oils are likely to trade in the range of 3,700-4,500 ringgit per metric ton between now and June. This is because demand will be high during…
Pampa Energia, Argentina raises over $400 mln for Vaca Muerta campaign
Pampa Energia, a natural gas producer in Argentina, announced a $410 million debt issuance on Friday. This demonstrates investor confidence as the company expands its operations in the Vaca Muerta shale in the country.
Conab raises estimate for Brazil's 2024/2025 sugarcane crop
Conab, Brazil's national agricultural agency, increased its forecast on Thursday for Brazil's sugarcane production in 2024/25 but stated that it would still fall below the previous season due to low rainfall…
Gran Tierra Energy, a Canadian company, offers $226 million to buy UK-based i3 Energy.
The shares of i3 Energy jumped up to 33.7% in the morning on Tuesday after Canada's Gran Tierra Energy made an offer to purchase the British oil producer for 174.1 million pounds (226.23 millions). The…
Guyana's Oil Exports Double, with Europe Taking Half of Cargoes
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…
2023 Outlook: The Offshore Service Vessel Market
The market for offshore support vessels has been through a rather rough few years since offshore exploration and production activity took a nose-dive in 2015 following the oil price crash the year before.The…
