What was considered a 'signing bonus' for the 2016 Stabroek Block Production Sharing Agreement (PSA) was in fact funds provided to Guyana in support of its efforts to address Venezuela’s claim to two-thirds of its territory. ...
New data pulled from Rystad Energy shows that the claims of chronic underinvestment in the global oil and gas industry are exaggerated.
While investments in the upstream sector have decreased since reaching a peak of US$887 billion in 2014, some...
Petróleos Mexicanos (PEMEX), Mexico's state oil company, said the fire incident that occurred Friday at the Nohoch Processing Center, resulted in the tragic loss of two lives and one worker reported missing. The Director General of PEMEX, Engineer Octavio...
bp has announced an expansion of its investment in bioenergy with a commitment of US$10 million through bp ventures in a Series B investment round for WasteFuel, a California-based biofuels company.
WasteFuel specialises in converting bio-based municipal and agricultural waste...
In an impressive surge in just six months, the utilisation of marketed sixth-generation harsh environment semisubmersibles has experienced a 14% increase, resulting in full utilisation at a staggering 100%, Westwood Energy said in a recent report.
This level of utilisation...
Guyana’s Natural Resource Fund (NRF) received payments for two lifts of profit oil in June, amounting to US$150 million. These represent the sixth and seventh lifts owed to Guyana for the year, from oil production at the ExxonMobil-operated Liza...
Petróleos Mexicanos (PEMEX) has reported a fire incident that occurred July 7 at approximately 5:25 a.m. at the Nohoch-A Link Platform in the Gulf of Mexico, followed by another fire at the Compression Platform. In response, the Emergency Shutdown...
US Secretary of State Antony Blinken highlighted Guyana's remarkable achievements in responsibly utilising fossil fuels while prioritising environmental protection. He emphasized that the country's efforts serve as an example for others.
Blinken stated, "Now, Guyana will soon be the highest...
London is set to host the inaugural Guyana Diaspora Sustainability & Investment Conference (GDSIC) on October 3-4, 2023. The conference, to be held at the prestigious Church House Westminster, will bring together influential figures and business leaders to explore...
ExxonMobil has indicated a significant decline in operating profits for the second quarter, as per a regulatory filing. The operating earnings fell to approximately US$7.8 billion compared to US$17.85 billion in the same period last year. The previous year's...
