2023-2025 Subsea Tieback Round-Up
Here's a look at subsea tieback projects across the globe. The first in a two-part series, this report highlights some of the subsea tiebacks scheduled to be online by 2025.
Paisie: Economics Edge Out Geopolitics
Weakening economic outlooks overpower geopolitical risks in oil pricing.
US Threatens to Not Renew Venezuelan Energy Sector License
The U.S. Department of State alerted Venezuela that it could decide not to renew General License No. 44 amid what Washington has labeled “anti-democratic actions.”
US Customs Rules New Fortress’ FLNG Facility Does Not Violate Jones Act
New Fortress Energy’s FLNG facility offshore Mexico can now sell and deliver LNG to U.S. locations.
US Companies Ponder Future in Venezuela as Washington Pressures Maduro on Elections
The pressure is on again for Venezuela’s President Nicolás Maduro to announce a clear election timeline amid tensions following recent arrest orders and detentions of his opposition supporters.
Guyana’s Economy to Grow 34.3% in 2024, Finance Minister Says
Guyana’s economy is expected to grow 34.3% in 2024, exceeding growth of 33% in 2023, as an Exxon Mobil Corp.-led consortium ramps up offshore oil production, according to Guyana’s finance minister Ashni K. Singh.
Mexico’s New Dos Bocas Refinery to Start Operations in February
Mexico’s President Andrés Manuel López Obrador said the country’s new Dos Bocas refinery, known as Olmeca, will commence operations in February 2024.
PDVSA Contributed $6.2B to Government Coffers in 2023
Venezuela’s state-owned PDVSA contributed income equivalent to US$6.2 billion to government coffers in 2023, Venezuela’s President Nicolás Maduro Moros said during his annual National Assembly address.
West: Oil Service Industry 2024: A Tale of Two Markets
North America's oil service industry will decline while the international and offshore markets will drive growth.
IMF Grants Argentina Access to $4.7B as Inflation Surpasses 200%
With rampant inflation, the IMF granted Argentina access to $4.7 billion for policies to restore macroeconomic stability, a move that could lead to more international investment, including from oil and gas companies.