Monday, February 6, 2023

Featured

Hurricane Florence affects oil and gas projects, facilities

Hurricane Florence is churning over the Carolinas, knocking out power and threatening coastal flooding in a torrent that could have implications for energy trade and oil and gas construction projects in the area. S&P Global Platts on Friday noted that...

Guyana gov’t says no illegalities or nefarious objectives guided approval of Liza Phase-1 billion-plus barrel development

Guyana’s Ministry of Natural Resources MNR said on Friday afternoon that the decision to move ahead with the Liza Phase 1 development project – set to rake in an estimated 7 billion US dollars over its lifetime – was...

Economic diversification must continue in order to avert oil dependence – Finance Minister

Guyana’s Finance Minister, Winston Jordan has underscored the importance of continuing to diversify the economy as Guyana becomes an oil producing state to ensure that the nation does not develop a dependency on the oil sector. Noting that oil should...

Stakeholders call for more public involvement in plan to manage oil revenue

Stakeholders in Guyana want the Government to do more to educate the populace on the benefits and operationalization of the Sovereign Wealth fund, also known as the Natural Resource Fund. This was one of the main highlights at a panel...

Total farms into Guyana’s Orinduik block; Tullow to remain operator

French super-major Total has exercised its option to purchase a 25% working interest in the Orinduik block offshore Guyana for USD 12.5 million. This comes on the heels of partner Eco Atlantic Oil & Gas’ announcement that the block has...

Manufacturing body staging SWF discussion in Guyana

A discussion is set to get underway today – Thursday, September 13, to examine the management of future petroleum revenues and the establishment of a fiscal rule and a Sovereign Wealth Fund (SWF) in Guyana. The event is being...

Guyana paying close attention to technical capacity as ExxonMobil 3rd drill ship set to arrive October

ExxonMobil Guyana's third drillship - the Noble Tom Madden - is set to arrive in the South American country in October. This vessel will focus primarily on exploration of high potential areas and will commence drilling at the ‘Pluma’ prospect approximately...

Erdogan appoints himself chairman of Turkey’s sovereign wealth fund

(Reuters) - Turkish President Tayyip Erdogan has appointed himself chairman of the country’s sovereign wealth fund and completely changed its board, naming Finance Minister Berat Albayrak as his deputy, the country’s Official Gazette said on Wednesday. The revamp was the...

Guyana’s 9th oil discovery opens way for new 10-billion-barrel province – Westwood

On August 30th Exxon announced the ninth discovery offshore Guyana at the Hammerhead-1 well, adding to the resource base of 4 billion barrels of oil equivalent found since the Liza discovery in 2015.  Liza is expected to be onstream in...

Eco Atlantic says Guyana prospect contains approximately 3 billion barrels of oil and gas

(Reuters) - A prospect operated by Tullow Oil off Guyana contains an estimated 3 billion barrels of oil and gas, its partner Eco Atlantic said on Tuesday, as the two firms prepare to drill in the Latin American oil...

Latest News

Exxon cops OTC award for Liza developments offshore Guyana

The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso...