1. ExxonMobil sets higher oil production targets for Guyana
ExxonMobil, supported by Guyana’s fourth deep water project, has increased its crude oil production in 2025. According to the new estimates, the total production of these projects will make Guyana’s daily production exceed 800000 barrels by 2025.
Guyana has developed from the unknown oil resources six years ago to now has more than nine billion barrels of oil equivalent, and this small South American country has successfully become one of the three major oil producing countries in Latin America.
2. The first large offshore wind farm in the United States approved
Biden authorities said on May 11 that they have approved the construction of vineyard, the first large-scale offshore wind farm in the United States, and regard it as the start of a new domestic energy industry, which will help reduce emissions from the power industry.
Vineyard offshore wind farm in the United States is the first large-scale offshore wind power project in the United States, which is jointly developed by European wind power giant Iberdrola and professional renewable energy investment agency Copenhagen Infrastructure Fund (CIP).
The United States is considered to be one of the fastest growing new markets for offshore wind power. Last month, Biden authorities announced a target of deploying 30 gigawatts of offshore wind power by 2030.
3. Shell finds a major deepwater oil field in the Gulf of Mexico
Recently, shell offshore Inc., a subsidiary of Royal Dutch Shell, announced “significant” discoveries in the leopard exploration area of the Gulf of Mexico deepwater area (GOM) in the United States, and said it is conducting an evaluation to further determine the development plan.
Shell is currently the leading operator in the Gulf of Mexico in the United States, with eight deepwater production centers and underwater infrastructure networks. It is the largest lessee and one of the major offshore producers of oil and gas resources in the region.
4. Pemex to invest $2.6 billion in Tula refinery
Pemex will invest $2.64 billion to build a coking plant at its Tula refinery to reduce its dependence on imported fuels, chief executive Octavio Romero oropeza said on May 12. The project is expected to be completed in 2023.
5. Dolphin drilling wins Norwegian continental shelf drilling contract
Wellesley petroleum as has awarded a letter of intent (LOI) to drill a high temperature and high pressure (HPHT) exploration well on the Norwegian continental shelf, which is expected to start drilling in the first quarter of next year, dolphin drilling reported on Tuesday.
6. IEA: oil demand recovery is expected to exceed supply growth
The International Energy Agency (IEA) said in its monthly report on Wednesday that demand for oil will exceed supply from major oil producing countries due to progress in global vaccination against the new crown. Even if Iran increases exports, the oil gap is expected to widen.
7. McDermott wins feed contract for Gulf of Mexico project
McDermott International announced on Tuesday that it had been selected by BHP and Pemex to provide feed for the semi submersible floating production unit (FPU) for the Gulf Trion project. BHP holds 60% of Trion as an operator and Pemex holds 40% of the remaining shares.
Post time: May-13-2021