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Monthly Archives: December 2020

This year was like no other for oil prices

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(Reuters) Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility....

Oil’s brief rally fades

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(Bloomberg) A brief rally in crude oil deflated Monday as investors ignored a broader market surge that pushed equities to an all-time high and...

Saudi Aramco makes 4 new discoveries across Kingdom

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(Arab News) Saudi Arabia state oil company Saudi Aramco has discovered four new oil and gas fields in different locations around the country, the...

Oil prices climb higher as Trump signs aid bill

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(Reuters) - Oil prices edged higher on Monday after U.S. President Donald Trump signed a $2.3 trillion coronavirus aid and spending package, although lingering...

Oil exports pushes Guyana’s trade balance to US$143 million in first half of 2020

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December 2019 saw the introduction of oil production in Guyana resulting in the goods trade balance moving from a deficit of US$627 million or...

Guyana rakes in over US$180 million from oil exports this year, 4th cargo lifted...

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Guyana has earned over US$180 million from oil exports this year. The country lifted its fourth and final cargo for 2020 earlier this month...

Understanding the FPSO

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

Exxon conducted largest 3-D seismic survey in company’s history offshore Guyana

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By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as...

Big window of opportunity ahead for oil producers as major deficits loom

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Oil producers around the world, particularly in locations like Guyana, will soon have a window of opportunity as new analysis shows that 2021 could...

‘Mighty and unstoppable hand’ shaping Guyana’s future – President Ali

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President of Guyana, Dr. Irfaan Ali is urging his fellow citizens to look toward the future with high optimism as the South American country...