Latest News

Oil can help Guyana can feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to rebuild...

Rystad Energy warns 2nd COVID-19 wave could see oil demand losing another 2.5 million bpd

As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic...

Pirates grab nine Nigerians from BW Offshore FPSO

At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which...

OPEC cuts production to 1991 levels in bid to revive oil demand

(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets...

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter,...

Trending

Oil can help Guyana can feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to rebuild...

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter,...

Exxon signals second quarterly loss in a row on production, refining hits

(Reuters) - Exxon Mobil Corp’s oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a...

SBM Offshore secures US$600 million bridge loan for FPSO Sepetiba

SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba, to be...
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Local Content

Policy calls for ‘first consideration of Guyanese’ in new O&G hotspot

In making decisions concerning recruitment and procurement to execute petroleum activities, operators and their contractors in Guyana’s emerging oil and gas industry are expected...

Guyana now has a Local Content Policy

The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expected to operate has...

Local Content Policy close to completion

The much-anticipated Local Content Policy (LCP) that would set the framework within which companies in Guyana’s oil and gas sector are expected to operate,...

Guyana to set up Local Content Compliance Unit to validate information submitted by oil companies – Dr Bynoe

The Guyana Government has announced plans for the imminent establishment of a Local Content Compliance Unit to validate information submitted by oil companies operating...

Stakeholders call for clearer definition of ‘local business’

The Georgetown Chamber of Commerce and Industry (GCCI), on Wednesday, hosted a Roundtable Discussion on Guyana’s third draft of the Local Content Policy. The...

Chamber’s forum on local content policy receives massive turnout

Members of the business community, the public and key stakeholders turned out in large numbers to the first open forum on Guyana’s 3rd draft...
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Latest News

Oil can help Guyana can feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to rebuild...

Rystad Energy warns 2nd COVID-19 wave could see oil demand losing another 2.5 million bpd

As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic...

Pirates grab nine Nigerians from BW Offshore FPSO

At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which...

OPEC cuts production to 1991 levels in bid to revive oil demand

(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets...

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter,...

Regional

SBM Offshore secures US$600 million bridge loan for FPSO Sepetiba

SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the...

Maersk Drilling bags exploration contract for one-well campaign in Suriname

Maersk Drilling has secured a contract for the semi-submersible rig Mærsk Developer which will be employed by PETRONAS Suriname...

Brazil’s Petrobras says Buzios oil field achieved a new daily production record in June

(Reuters) - Brazil’s Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil...

U.S./Canadian oil & gas rig count falls to record low again-Baker Hughes

(Reuters) - U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a...

Total, partners ramp-up production at Brazil pre-salt with start-up of second FPSO

Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the...
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Must Read

Oil can help Guyana can feed the region, become leader in renewables – UK High Commissioner

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to rebuild...

World will still rely on oil and gas for much of its energy needs beyond 2040 – WoodMac Analysts

In keeping with the goal of the Paris Agreement which calls for a limit to the increase in global temperatures to below 2 degrees...

Guyana remains cautious of Dutch disease even as oil takes GDP to an “impressive” 5.4 percent

Following its latest assessment of the economy’s performance for the year 2019, the Government of Guyana has stated in its End of Year Outcome...

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among...

Guyana makes historic presentation to ICJ over border controversy with Venezuela

A battery of international lawyers with key support from Sir Shridath Ramphal presented Guyana’s case to the International Court of Justice (ICJ) on Tuesday...

Provision for marine loading of Guyana’s hydrocarbons

Guyana must address the need for the investing parties to agree on the allocation of risk in relation to tanker loading, whether at an...

Opinions

Provision for marine loading of Guyana’s hydrocarbons

Guyana must address the need for the investing parties to agree on the allocation of risk in relation to tanker loading, whether at an offshore platform, Floating Production Storage and Offloading (FPSO) facility or any future onshore jetty. In reality, even if the joint venture controls the relevant berth infrastructure, they will need to establish and publish terminal operating rules for tanker masters to follow. These rules will establish the terms on which the terminal...

Lifting submissions of Guyana’s petroleum resources

Efficient use of lifting and transportation capacity requires planning. By nominating to the operator acceptance of their entitlements, the parties confirm that they have...

Setting Guyana’s hydrocarbons production forecasts for lifting agreements

Production forecasts are a workmanlike description of the forecasting and reporting activities which must be performed by the operator under the lifting agreement. The...

Features for Guyana’s crude oil sale delivery point

The Government of Guyana Agreement may identify the Delivery Point or Points, putting the actual location of the Delivery Point beyond discussion. However, the...

Options for Guyana’s crude oil disposition

Crude oil to be produced from an Exploitation Area shall be taken and disposed of in accordance with the rules set out in the...

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

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Video News

Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter,...

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among...

Norway tax relief to cut breakevens by 40%, boosting the country’s rig demand while the UK’s plunges

A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve...

World oil resources take 282 billion barrels hit

The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will expedite peak oil demand, putting a lid on...

Discoveries

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...

World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes

Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true...

Guyana Government releases ExxonMobil contract

The Production Sharing Agreement (PSA) between the Government of Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited was released today at a...
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Production

OPEC cuts production to 1991 levels in bid to revive oil demand

(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets...

Brazil’s Petrobras says Buzios oil field achieved a new daily production record in June

(Reuters) - Brazil’s Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the...

Global natural gas output set to fall by 2.6% in 2020

The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the...

China’s June crude stocks to soar to new high as cheap inflow outpaces throughput

China's crude oil stockpiles will likely extend the uptrend to hit a new record high in June as refinery feedstock imports outpace the rise...