News Archives - Panorama Insurance Brokers

Guyana oil exports could average US$72 million per lift for remainder of year

In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast. This would see exports from Guyana, averaging around 1 million barrels of… Read More

Brazil set to lead global offshore crude, condensate production – GlobalData

Brazil alone is expected to contribute around 23% or 1.3 million barrels per day (mmbd) of global crude oil and condensate production in 2025 from key offshore planned and announced projects (new-build projects) that are expected to start operations between 2021 to 2025, according to GlobalData, a leading data and analytics company. The company’s report, ‘Global… Read More

American Petroleum Institute to help Guyana boost standards in growing oil and gas industry

The world-renowned American Petroleum Institute (API) will be assisting Guyana in the adoption of good petroleum management standards for the development of the local oil and gas industry. Towards this end, API signed a memorandum of understanding with the Guyana National Bureau of Standards (GNBS) on Friday, starting a partnership that has been about 2… Read More

Guyana FPSOs ramping up traffic at Asian shipyard

Guyana’s appetite for Floating Production Storage and Offloading (FPSO) units to produce its massive oil reserves is growing as more developments come on stream at the ExxonMobil-operated Stabroek block. This demand for FPSOs was most evident recently with two Guyana floaters being berthed alongside each other at the Keppel Shipyard in Singapore. The Prosperity FPSO… Read More

Guyana, Brazil and Mexico best positioned to attract investors willing to take risk

The deepwater plays in Guyana, Brazil and Mexico will provide significant opportunities for these countries to help meet the oil and gas demand in coming years as supply shortfalls due to energy transition trends take hold. “Demand for oil will drop gradually as the world moves forward with energy transition, but some demand will remain,… Read More

Maersk Discoverer en route to Guyana for 85-day drill campaign at Corentyne block

The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of the block, and joint venture partner Frontera Energy Corporation, confirmed on Wednesday that they intend… Read More

Massive Prosperity FPSO hull arrives at Singapore yard

Dutch floater specialist SBM Offshore said on Thursday the hull for the Prosperity Floating Production Storage and Offloading (FPSO) vessel has arrived safely at the Keppel yard in Singapore. The next phase of construction will now commence, with the topside modules being integrated at the yard. The Prosperity is Guyana’s 3rd FPSO and will follow… Read More