News

Exxon pulls out of deepwater oil prospect in Ghana

(Bloomberg) -- Exxon Mobil Corp. is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. The company relinquished the entirety of...

Brent oil hits highest point since March

(Reuters) Oil prices rose on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output. Brent...

EIA submitted for Guyana’s first large-scale wind farm

Hope Energy Development Inc. (HED) has submitted an Environmental Impact Assessment (EIA) for the construction and operation of the first large-scale wind farm in Guyana along the East Coast of Demerara. The Hope Wind Farm Project base-case scenario proposes the...

Public engagements continue for project set to transform Guyana into world’s largest per capita oil producer

Public consultations for the Yellowtail Development Project continue in Guyana with another virtual session set to take place on Wednesday, June 2. The public is being urged to participate in the process and submit comments for consideration in the...

Equinor, Exxon and partners sanction US$8 billion project in Brazil

Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau...

Global exploration has more than 3 decades of life left – Guyana remains top destination

Updated May 31, 2021 Major oil and gas explorers around the world expect at least three decades of exploration still to come and see this lasting beyond 2050 even as the global pandemic and slashed oil prices have caused companies...

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the discovery of multi-billion-barrel hydrocarbon resources, the economic prospects of these upcoming potential giants are among...

Guyana regulators internationally trained to measure crude lifts

Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to...

CNOOC enjoying rare success on global stage with Guyana oil finds

China National Offshore Oil Corporation (CNOOC), one of the largest National Oil Companies (NOC) in China, is enjoying rare success on the global stage, with a 25% stake in the multi-billion-barrel Stabroek Block offshore Guyana. The NOC has interest in...

“Energy is life” says Total’s CEO Patrick Pouyanné as company adopts new identity

At the Ordinary and Extraordinary Shareholders’ Meeting held on May 28, shareholders approved, almost unanimously, a resolution for Total’s name to change to TotalEnergies. The French oil major said the name change anchors its strategic transformation into a broad...

Latest News

Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...