News

Hess Corporation, a 30% co-venturer on Guyana’s Stabroek Block, announced on Wednesday that it suffered a net loss of US$97 million, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of US$222...

The United States and the Organisation of American States (OAS) on Wednesday added their voices to the mounting regional and international condemnation being directed to the Maduro regime over the illegal detention of Guyanese fishing vessels and their crew...

The International Monetary Fund (IMF) said in an updated forecast that oil prices are expected to average just above $50/b in 2021, a more than 21% rise from 2020's depressed level, as the rollout of vaccines and fiscal stimulus...

CGX Resources Inc. has submitted applications to the Environmental Protection Agency (EPA) in Guyana for Environmental Authorization to drill two exploration wells offshore the South American country. The company has applied for approval to drill one well each at...

The search for oil in key hotspots across the globe is expected to continue in earnest this year and this will see approximately 38 High Impact Wells (HIWs) being drilled, according to American-British information provider, IHS Markit. Jack Rivers, Director...

Undeterred by the results from the Jethro and Joe prospects on the Orinduik block which showed the presence of heavy oil, Eco Atlantic says it remains primed for a new campaign on the block which is expected to focus...

Guyana’s Civil Defence Commission (CDC) announced on Tuesday that it has operationalized the National Oil Spill Response Plan (NOSRP). In addition, the National Oil Spill Committee (NOCS) to support contingency planning and lead the policy direction of the management...

A new drill campaign is set to get underway by Tullow Oil offshore Suriname at the Goliathberg Voltzberg North-1 (GVN-1) prospect at Block 47, targeting over 230 million barrels of oil. According to Ratio Petroleum, a 20% stakeholder in the...

Hess Corporation on Monday announced its 2021 Exploration & Production capital and exploratory budget of $1.9 billion with more than 41% allocated to offshore developments in Guyana where the company has a 30% stake in the prolific Stabroek block. CEO...

Baker Hughes said on Friday an order has been confirmed with Petrobras to provide a suite of digital solutions across the state oil company’s sites in Brazil. The order, booked in the fourth quarter 2020, will further expand Petrobras’...