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Staatsolie issues US$195 million international bond ahead of anticipated offshore oil boom

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Suriname state oil company Staatsolie Maatschappij Suriname N.V. has issued a US$195 million bond in Suriname and Curaçao. This bond issuance, executed on March 23, is internationally listed on the Dutch Caribbean Securities Exchange (DCSX). De Surinaamsche Bank N.V....
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Schlumberger cuts spending 30%, eyes rapid slowdown in oilfield activity

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(Reuters) - Schlumberger, the world’s largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year’s levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war. The...
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Bloomberg: A country’s future as world’s fastest-growing economy crumbles

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(Bloomberg) When Exxon Mobil Corp. came to Guyana, the U.S. oil giant brought with it the promise of extraordinary economic growth. Now the tiny South American country is embroiled in a bitter battle over who might control that wealth...
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O&G project sanctioning faces up to US$131 billion in reduction this year

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The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans...
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Lankhorst bags mooring lines contract for 2nd Guyana FPSO

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Leading deepwater mooring rope manufacturer, Lankhorst Offshore, said it has been awarded a contract by SBM Offshore to supply the mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana. This...
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COVID-19 cases, deaths spike globally

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As Oil and gas producers around the world continue to step up measures to prevent or limit the spread of the coronavirus, World Health Organization Director-General Tedros Adhanom Ghebreyesus warned the “pandemic is accelerating,” in a tweet on Monday. There...
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Thousands of O&G workers face lay-offs in Norway as COVID-19 spreads

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As the COVID-19 global pandemic rages on, Norway, holder of the world’s largest Sovereign Wealth Fund, is seeing a rapid increase in cases as foreign workers in the country’s oil and gas sector are sent home and others are...
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Can the North Sea oil and gas industry survive the downturn?

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The North Sea oil and gas industry has weathered several storms in its 50-year existence. But the events of the past few weeks mean the sector is entering uncharted waters. The coronavirus pandemic and collapse in OPEC+ production restraint...
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COVID-19, political instability could restrict Guyana’s growth and stall oil investments

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The International Monetary Fund (IMF) says commodity exporters in South America will face all round lower export revenues as a result of the COVID-19 pandemic both from the drop in prices and reduction in export volumes, especially to China, Europe...
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Suriname aiming to become offshore oil producer in 5 to 6 years

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Suriname’s first major offshore oil discovery at the Maka Central-1 field in Block 58 could move to production in 5 to 6 years and expectations are high that multiple projects could come on stream within the same period. Reports indicate...
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Letter-to-the-Editor: The Guyana Super League is redefining cricket in Guyana

As an aspiring cricketer and proud Guyanese, I’m excited to see how the Guyana Super League (GSL) is not...

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