Wednesday, August 10, 2022

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Ramnarine urges speedy establishment of Petroleum Commission

Trinidad and Tobago’s former Minister of Energy and Energy Affairs, Kevin Ramnarine, believes that the process for establishing the Petroleum Commission in Guyana should be hastened. He said the work of a Joint Select Committee in Guyana’s Parliament which is...

Tullow fails to strike oil at Araku prospect in Suriname

The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 metres and penetrated the objectives of the Araku prospect. No significant reservoir quality rocks were encountered although logging and sampling proved the presence of...

Brazil judge suspends pre-salt oil auctions set for Friday

(Reuters) - A federal judge in the Brazilian state of Amazonas issued an injunction on Thursday ordering the suspension of the billion-dollar auctions of pre-salt oil and gas rights scheduled for Friday. The injunction was sought by the leftist Workers...

TechnipFMC projects slow deepwater recovery in 2018

(Chron) The world's largest offshore services company, TechnipFMC, reported that its revenues grew from the previous quarter, but the deepwater sector remains mired in a downturn. CEO Doug Pferdehirt said he sees the early signs of a recovery continuing into 2018...

ExxonMobil to resume exploration off Brazil

US supermajor ExxonMobil is set to resume exploration activity off Brazil in the first half of 2018 after a nearly eight-year hiatus. The company will be shooting 3D seismic covering two ultra-deepwater blocks it recently farmed into in the...

Liza 1 discovery was intentionally “downplayed” in lead-up to Guyana elections – former minister

The biggest offshore oil discovery in 2015 and the first of its kind in the South American country of Guyana was intentionally downplayed in the weeks leading up to the country’s May 11, 2015 national elections. While the magnitude of...

Guyana, Suriname follow-up discussions on oil & gas set for November

Following a meeting in Suriname on October 19 between Guyana’s Minister of Natural Resources Raphael Trotman and his counterpart in Suriname, Dr. Regilio J. Dodson, it was decided that a meeting will be held in Guyana in November at...

Guyana, Suriname mulling joint industrial venture for oil & gas

Guyana’s Minister of Natural Resources, Raphael Trotman, has described his recent participation in the annual meeting of the New Petroleum Producers Discussion Group in Suriname as fruitful. The New Petroleum Producers Discussion Group is an initiative of London-based Chatham House,...

Hess suffers $624M loss in 3rd quarter 2017

Hess Corporation (NYSE: HES) today reported a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017 compared with a net loss of $339 million, or $1.12 per common share, in the third...

Guyana EITI candidature application approved

The Extractive Industries Transparency Initiative (EITI) Board has approved Guyana’s EITI candidature application making the South American country the 53rd candidate of the global transparency body. OilNOW understands Guyana’s EITI National Coordinator, Dr. Rudy Jadoopat travelled to the Philippines to...

Latest News

World’s fastest-growing economy moves to slash transportation costs, travel time with US$115M IDB loan

Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the...