South America’s latest oil-producing nation, the former British colony of Guyana, is continuing to lay the groundwork for its oil boom. In 2015, global energy supermajor ExxonMobil, which is the operator holding a 45% working interest, and partners Hess with 30% and CNOOC holding 25%, made their first discovery in offshore Guyana in the 6.6-million-acre Stabroek Block. The Exxon-led consortium then went on to make a swath of high-quality oil discoveries with the latest occurring in April 2022. Exxon found oil with the Barreleye-1, Patwa-1, and Lukanani-1 wells which were drilled in the southeast of the Stabroek Block. That is five oil discoveries since the start of 2022 and a total of 31 finds since Exxon started drilling in the Block.

May 13, 2022 - Reuters

Brazil's antitrust watchdog CADE said on Friday that the sale of state-run oil company Petrobras' Reman refinery to fuel distributor Atem was approved with no restrictions. Reuters had reported the regulator's approval of the deal on Thursday, citing sources. Petrobras had announced in August 2021 an agreement to sell the refinery, which is located in the northern state of Amazonas, for US$189.5 million.

May 13, 2022 - Ethanol Producer

Brazil-based energy company Raizen announced on May 11 that its board has approved plans to invest US$ 389.8 million) in the development of two cellulosic ethanol plants that will be located in São Paulo. The two facilities are expected to produce 164,000 cubic meters of cellulosic ethanol annually, with production currently scheduled to begin in 2024. The two new facilities will be the third and fourth cellulosic ethanol plants developed by Raizen. The company began operations at its first cellulosic ethanol facility in 2015. That plant has an annual capacity of 34,000 cubic meters per year.

May 13, 2022 - Krishi Jagram (India)

A group of farmers' representatives from several sugarcane-growing states in India will travel to Brazil to study ethanol production and use and submit a report to the government. The delegation will also include members from the private sector and government authorities, and it is slated to depart soon. The study team will also include farmer leaders from Maharasthra and Uttar Pradesh, according to Kurubur Shanthakumar, President, Karnataka Sugarcane Cultivators Association, who is one of the delegates. "We have repeatedly urged the government to implement an ethanol policy that will boost ethanol production and help farmers." Mr.Shanthakumar stated.

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