*It's company's 13th discovery off Guyana Houston, Texas — ExxonMobil announced on Friday a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The company said in a statement made available ...


A Review of The Nigerian Energy Industry

NEWSLETTER -  Sat, Apr 20 2019

ExxonMobil makes new oil discovery offshore Guyana

*It’s company’s 13th discovery off Guyana Houston, Texas — ExxonMobil announced on Friday a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The company said in a statement made available to SweetcrudeReports that the discovery adds to the previously announced estimated recoverable resource of approximately 5.5...

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Russia taps rainy-day fund to pay oil firms back for lower fuel prices at home

Moscow — Russia expects to use about 210 billion roubles ($3.3 billion) from its National Wealth Fund this year to pay back oil firms as part of a deal to keep down domestic gasoline and diesel prices, a senior finance ministry official said on Friday. The government and oil firms agreed to cut wholesale domestic […]

      

BP, SOCAR sign deal to build new Azeri oil exploration platform

Baku — Oil major BP and Azerbaijan’s state energy company SOCAR signed an agreement on Friday to build a new exploration platform for the South Caucasus nation’s three major oilfields, BP-Azerbaijan said in a statement. The Azeri Central East (ACE) platform, the latest phase of Azerbaijan’s giant Azeri-Chirag-Guneshli (ACG) oilfields, is expected to produce 100,000 […]...

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Venezuela congress to weigh 2020 PDVSA bond payment next week

Caracas — Venezuela’s opposition-controlled National Assembly expects to vote on making a $71 million bond interest payment when it meets next week, a lawmaker and a member of state-run oil company PDVSA’s ad-hoc board of directors said. Payment would protect U.S. refiner Citgo, PDVSA’s crown jewel overseas asset, from potential seizure by creditors. But it […]...

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Engie wants to quadruple its Africa business -Figaro

News Wires — French gas and power group Engie, which operates about 3,000 megawatts (MW) of power in Africa, wants to quadruple its capacity there over the next decade, newspaper Le Figaro reported. ** The paper quotes Engie’s new Africa chief Yoven Moorooven as saying that the group is aiming to acquire an additional 10,000 […]

      

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About SweetCrude

Sweetcrude is a review of the Nigerian energy industry. The publication has evolved to become the voice and watchdog of industry, reporting all spectrum of the energy chain in-country and serving as an interface between the Nigerian energy industry and that of Europe, the Middle-East and the American continent.


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