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Unintended negative consequences could come from windfall taxes – Exxon Head

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Counterproductive. That is how ExxonMobil describes windfall taxes. And it is sticking to this position, so much so that it filed a lawsuit against the European Union (EU) back in December to challenge its introduction. The EU windfall tax allows...
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First Guyanese oil service company to get ISO 29001:2020 certification

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GO-NDE Inc. – a partnership between Trinidad’s Non-Destructive Testers Limited (NDT) and Guyana Oil and Gas Support Services Inc. (GOGSSI) has become the first Guyanese oil service company to be ISO 29001:2020 certified. ISO 29001 is an international standard that...
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BP extends Stena IceMAX contract for drilling in Gulf of Mexico

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BP has extended its contract for utilisation of the mobile offshore drilling unit (MODU) Stena IceMAX, Stena Drilling said Tuesday. This extension shall see the MODU mobilise to the United States Gulf of Mexico in direct continuation of the initial...
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Guyana, Permian growth offset Exxon’s divestments, Sakhalin-1 expropriation in 2022

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ExxonMobil revealed that earnings from growth at its Guyana and Permian projects in 2022 more than offset the losses from its divestments and the expropriation of the Russian Sakhalin-1 project. This was also helped by higher prices on account...
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BP scaling back oil and gas withdrawal, rakes in US$27.7 billion in profits for 2022

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UK supermajor, bp has decided that it will be producing oil and gas longer than it intended to, in direct response to the world’s growing energy needs. But it is not dialling back on its transition to green energy; bp...
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Guyana Opposition demands Minister hand over all Gas-to-Energy files

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Two Members of Parliament (MP) have approached the Guyana House seeking an order for the Minister of Natural Resources, Vickram Bharrat, to table all documents relating to the construction of the Wales Gas-to-Energy project and the Heads of Agreement...
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NetBenefit Software looking to extend local content tracking success to Guyana

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Guyana passed Local Content legislation a little over a year ago to ensure that its citizens get the most out of the petroleum resource – a whopping 11 billion barrels discovered in the Stabroek Block and counting. Now, NetBenefit Software...
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Stabroek Block oil producers pay Guyana US$58 million in 4Q22 royalties

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ExxonMobil, Hess and CNOOC have paid up US$57.6 million (GY$12 billion) in quarterly royalties to the Guyana government, a January report of the Natural Resource Fund indicated. This represents 26% of Guyana’s projected royalties for 2023. The royalties account for...
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Exxon to utilise Stena DrillMAX for Kokwari exploration well offshore Guyana

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ExxonMobil Guyana’s Kokwari-1 exploration well is expected to be drilled between February and July 2023, utilising the Stena DrillMAX. Guyana’s Maritime Administration Department (MARAD) in a notice to mariners said the well site is situated approximately 190 kilometres off the...
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Trinidad kicks off negotiations with Venezuela for Dragon Gas Deal

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Trinidad and Tobago’s Minister of Energy, Stuart Young is leading a team to Caracas, Venezuela to kick off negotiations with the Bolivarian Republic for the Dragon gas deal. According to TT media reports, Young is being supported by Trinidad’s Venezuelan...
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Staatsolie seals offshore deals with PETRONAS, Chevron for Suriname’s Blocks 9 and 10

Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10 with PETRONAS Suriname E&P...

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