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Monthly Archives: May 2020

How did the ingenious use of bamboo poles help drill the first oil wells?

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The earliest known oil wells were drilled in China in 347 CE. These wells had depths of up to about 240 metres (790 ft) and were drilled...

Big investors cut net holdings in most oil majors in Q1 after prices tumble

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Large institutional investors decreased their net holdings in many of the world's largest integrated oil and gas majors in the first three months of...

Salvation Army welcomes support from ExxonMobil to help Guyanese affected by COVID-19 measures

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When COVID-19 cases began appearing in Guyana resulting in quarantine measures and reduced economic activity, the Salvation Army Guyana Division had to move quickly...

Options for Guyana’s crude oil disposition

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

China, India soak up oil from floating storage as demand recovers

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(Reuters) - The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in...

Stabroek Block – multiple prospects and play types

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The Stabroek Block, located approximately 120 miles offshore Guyana, covers an area of 6.6 million acres (26,800 square kilometers). The block is equivalent in size...

Liza crude now listed on Platts periodic table of oil

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Like the periodic table of elements, S&P Global Platts has compiled a list of different crudes ranging from lightest to heaviest. The oil being...

Greenfield investments headed for lowest level since 1970s – Rystad Energy

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The outbreak of COVID-19 and the drop in oil prices has caused E&P companies to cut back on investments. This is especially the case...

Tullow says 57 workers test positive for COVID-19 on Ghana support vessel

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(Reuters) - Tullow Oil said in a statement on Friday that 57 workers tested positive for COVID-19 onboard a support vessel at its production...

ICJ will open hearings on jurisdiction for Guyana-Venezuela border case on June 30

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Public hearings on the question of the International Court of Justice’s (ICJ) jurisdiction in the case concerning the Arbitral Award of October 3, 1899...