News

While there are currently no cement manufacturing operations in Guyana due to the high cost of energy and other barriers, the imminent Gas-to-Power Project could soon change the economics for the country in this regard. This is according to ExxonMobil’s Comprehensive...

Frontier exploration drilling fell to its lowest level since 2008 with only 15 frontier wells being completed and only one making a potentially modest sized commercial discovery according to a report released this week by energy market research and...

(Reuters) - Oil prices settled higher on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short-term supply outlook. Flows have resumed through the Kirkuk-Ceyhan pipeline that carries crude...

Eco (Atlantic) Oil & Gas Ltd. which holds a working interest in the Orinduik Block appears to be positioning itself for greater benefits with the recent purchase of additional shares in JHI Associates Inc. JHI is a private Canadian-based...

The number of major oil projects to be sanctioned globally in 2022 is anticipated to be in the mid-30s, double the 2021 figure and higher than pre-covid levels; a possible sign of an ‘if not now, then when’ mentality,...

Guyana’s President Dr. Mohamed Irfaan Ali is scheduled to make a working visit to Paramaribo on Thursday to meet with the President of the Republic of Suriname, Chandrikapersad Santokhi, and the President of Brazil, Jair Bolsonaro. According to an update...

ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The net-zero ambition is contained in the...

By the third quarter of this year, Guyanese authorities plan to auction the nation’s remaining offshore oil blocks to international oil companies (IOC) marking a shift from the country’s earlier awards of production sharing contracts (PSCs) based on direct...

(Reuters) - Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2%, to $87.50...

OPEC's 13 countries pumped 28.04 million b/d of crude last December, up 190,000 b/d from the previous month, while nine non-OPEC partners pumped 13.98 million b/d, an increase of 120,000 b/d, a Platts survey found. Gains by Venezuela, Kazakhstan, Saudi...