Guyana’s crude production has reached 100,000 b/d, 25% up on June, energy department director Mark Bynoe revealed even as the country continues to see an announcement on the 2 March, 2020 election results pushed further and further into the year.
Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.
An auction next month of oilfields in Brazil may be the priciest ever held, raising at least US$ 50 billion in licensing fees and compensation. Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice as much as Norway’s reserves.
Brazil expects to pocket some US$ 1.45 billion from the sixth round of oil and gas block licensing for the pre-salt zone offshore. Reuters reports, citing the special secretary to the Economy Ministry, Waldery Rodriguez, that the total minimum sum of signing bonuses for all the blocks that will be tendered on November 7th is US$ 1.9 billion.
Brazil’s newest oil auction is attracting some of the world’s biggest oil majors such as BP, Chevron, CNOOC, ExxonMobil, and Shell, the Brazilian government said on Monday, according to Bloomberg.
Major oil companies have approved US$50 billion of projects since last year that will not be economically viable if governments implement the Paris Agreement on climate change, think-tank Carbon Tracker said in a report published on Friday.
Shell plans to invest as much as US$2 billion annually in its Brazilian operations by 2025, Shell’s chief executive officer Ben van Beurden told Brazilian business daily Valor Economico in an exclusive interview published on Thursday.
Qatar Petroleum (QP) has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced on Tuesday by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018.
Climate campaigners marched to Shell's headquarters in the Netherlands on Friday and handed the oil giant a lawsuit aimed at forcing it to meet targets in the Paris accord. Dozens of chanting activists went to the Anglo-Dutch firm's base in The Hague, where they delivered a legal summons with a court date set for Apr 17.
Colombia’s government announced it had signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of US$ 100 million.