22 C
Georgetown
Wednesday, January 20, 2021

Latest News

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for...

Norway issues 61 new licences for oil and gas exploration activities

Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and...

Groups plan to press Biden to reverse ban on Venezuela fuel swaps

(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming...

Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting...

Trending

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for...

Norway issues 61 new licences for oil and gas exploration activities

Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and...

Groups plan to press Biden to reverse ban on Venezuela fuel swaps

(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming...
- Advertisement -

Local Content

Let local content policy be responsive to conditions on the ground, expert urges

Guyana has just entered its second year as an oil producing country and the question of how to maximize benefits for the local population...

Separate law for local content won’t guarantee success – Greenidge

Since the discovery of oil in Guyana back in 2015, there have been mounting calls for Local Content Legislation. While some believe this legal backing may...

Local Content Panel agreed policy should not lead to monopolies – Greenidge

Following several rounds of consultations with industry stakeholders, Guyana’s Local Content (LC) Panel which was assembled September last by President Irfaan Ali to prepare...

Instead of strict requirements, Guyana could incentivize companies to achieve local content targets – Dr. Marcel

When oil producing nations pursue the development of a local content policy, one of the challenges that often emerges, is striking the balance between...

Consultations on new local content framework in Guyana set for this month

The newly appointed Advisory Panel on Local Content in Guyana will begin reaching out to key stakeholders this month as work continues...

Guyana Local Content Panel looking to begin consultations – Vickram Bharrat

Guyana’s Minister of Natural Resources Vickram Bharrat said on Tuesday that the recently appointed Local Content Advisory Panel has already commenced work...
- Advertisement -
- Advertisement -

Latest News

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for...

Norway issues 61 new licences for oil and gas exploration activities

Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and...

Groups plan to press Biden to reverse ban on Venezuela fuel swaps

(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming...

Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting...

Oil demand will continue to climb says analyst, sees 50-year window for Guyana

Following the devastating effects of the coronavirus pandemic on the oil industry, multiple stakeholders have posited that the sector would never see pre-2019 oil...

Maersk Drilling bags double-rig 500-day contracts for Suriname forays

Based on the previously announced Conditional Letter of Award, Maersk Drilling said on Sunday that it has been awarded contracts for the deepwater rigs...

Oil falls as concerns mount over rising coronavirus cases in China

(S&P Global Platts) Crude oil futures tumbled during the mid-morning trade in Asia January 18, as rising coronavirus cases in China raised fresh demand-side...

Regional

Groups plan to press Biden to reverse ban on Venezuela fuel swaps

(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they...

Maersk Drilling bags double-rig 500-day contracts for Suriname forays

Based on the previously announced Conditional Letter of Award, Maersk Drilling said on Sunday that it has been awarded...

SBM Offshore gets ‘Best Oil Platform Operations’ award from Brazil’s Petrobras

Dutch floater specialist SBM Offshore, operator of the Liza Destiny FPSO in Guyana, has received the ‘Best Oil Platform...

Giant oil finds in Guyana and Suriname point to major frontier – Brazil Petroleum Studies

The recent giant discoveries made in the deep and ultra-deep waters of Guyana, Suriname and French Guyana have proven...

Total, Apache strike oil again offshore Suriname

Total and Apache Corporation said on Thursday they have made a new significant oil and gas discovery at the...

Subscribe to our newsletter


- Advertisement -

Must Read

Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for...

Energy Chamber looking to play major role in Guyana oil & gas development

The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and...

Oil demand will continue to climb says analyst, sees 50-year window for Guyana

Following the devastating effects of the coronavirus pandemic on the oil industry, multiple stakeholders have posited that the sector would never see pre-2019 oil...

Oil price projections remain uncertain, Guyana already warned not to spend what it doesn’t have

Extreme price volatility has been a key feature of the oil industry and can have a major impact on the ability of governments to...

Let local content policy be responsive to conditions on the ground, expert urges

Guyana has just entered its second year as an oil producing country and the question of how to maximize benefits for the local population...

Exxon has made 18 commercial discoveries out of 22 exploration wells drilled in Guyana

The success rate for finding commercial quantities of hydrocarbons offshore Guyana remains one of the highest in the oil and gas industry. Supported by...

Opinions

Letter-to-the-Editor: Guyana needs to be wary of so-called foreign experts pronouncing on its economic affairs

Dear Editor, Guyana needs to be wary of the many so-called foreign experts who are seeking to dominate the local press and pronounce on Guyana’s economic affairs. To this end, particular reference is made to the commentaries of Tom Sanzillo, Director of Financial Analysis at the Institute of Energy Economics and Financial Analysis (IEEFA), and Gerard Kreeft, another so-called energy transition advisor. Tom Sanzillo sought to argue without any facts or any real analysis – that...

Guyana set to lead Southern Caribbean offshore drilling in 2021

By Kevin Ramnarine – OilNOW In 2021 there will be a major increase in offshore drilling activity in the Southern Caribbean which will be led...

For Guyana ‘light is right’ – the crude quality of choice

The following is an opinion piece by Arthur Deakin, Analyst at Americas Market Intelligence (AMI) where he conducts political, economic, and other risk analysis activities...

Fiscal smoothing for Guyana’s wealth funds

Resource funds have been funded from a variety of sources. In some cases, large trade surpluses have been added to the foreign-exchange reserves of...

Production-Sharing Agreements

Discussions have been ongoing about the nature of the Production Sharing Agreement (PSA) Guyana has entered with ExxonMobil for the Stabroek block since oil was...

Petroleum Contracts

Agreement

between Government of Guyana and EEPGL + CNOOC/NEXEN + HESS

Agreement

between Government of Guyana and CGX Energy

Agreement

between Government of Guyana and Ratio Energy

Agreement

between Government of Guyana and Tullow/Eco Atlantic

- Advertisement -

Exploration

Bulletwood, Bonboni key wells to watch as exploration takes off in the Americas this year – Westwood

Guyana and Suriname remain two major hotspots for exploration activity in 2021 with a number of key wells to watch as the Americas take...

Guyana could find more oil, and closer to shoreline

Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one...

Guyana delivered, global exploration picked up…then the pandemic struck

A Wood Mackenzie analysis from Andrew Latham, Kristina Beadle, and David Parkinson  The global exploration industry was in a good place at the start of 2020, having recovered...

Permit delays in Brazil could see Guyana emerge as deepwater winner for investments

Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment...

Discoveries

Guyana could find more oil, and closer to shoreline

Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one...

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them...

Production

Yellowtail cash flow amounts to almost US$10B over productive life – IHS Markit

Due to the significant recoverable resources discovered at the Yellowtail field, IHS Markit estimates that total cash flow will amount to almost US$10B when ExxonMobil...

Understanding the FPSO

The FPSO (Floating Production Storage and Offloading) system is used extensively by oil companies for the purpose of storing oil from the oil rigs...

Average discovery size at Stabroek block is 500 million boe with a record 90% success rate

Since 2015, ExxonMobil has made 18 discoveries at the Stabroek block offshore Guyana with just two non-commercial encounters – Skipjack-1 and Sorubim-1 – which...

ExxonMobil to prioritize spending on “advantaged assets” in Guyana, USA and Brazil

Following a review of its future business plans, ExxonMobil announced on Monday that it intends to prioritize near-term capital spending on advantaged assets with...