The giant Liza Phase 2 Development Project offshore Guyana remains on course for production startup in 2022, the country’s Department of Energy (DE) has said.
Liza Phase 2 will have a production rate of up to 220,000 barrels of oil...
Oil prices fell on Wednesday, ending a multi-day streak of gains, as investors focused on oversupply risks after U.S. crude inventories rose more than expected amid a slump in demand caused by restrictions to halt the coronavirus spread.
According to...
Venezuela’s oilfields produced 687,000 barrels of crude last Saturday, up from 653,000 barrels on Friday but below the 718,000 barrels per day (bpd) the country said it produced in March, according to documents seen by Reuters on Monday.
The drop...
After receiving seven applications and completing a significant portion of the evaluation process, Director of the Energy Department, Dr. Mark Bynoe has disclosed that Guyana is just a few steps away from declaring the company that will be conducting...
(Reuters) - Equatorial Guinea has granted oil and gas companies two-year extensions on their exploration programmes, a statement from the hydrocarbons minister said.
The move is an effort to keep investments flowing into the nation’s energy industry amid a historic...
Even though global oil storage space continues to come under immense pressure following depressed demand, the situation is not one that has affected Guyana at this point. Be that as it may, nothing is being left to chance says...
Oil production from the Liza Phase 1 Development is expected to reach its full capacity of 120,000 barrels per day by early June according to the Director of the Department of Energy in Guyana, Dr. Mark Bynoe.
He told reporters...
By Kevin Ramnarine - OilNOW
Last Friday, in presenting its first quarter 2020 results, Exxon mentioned that the Payara project would be delayed by at most twelve months and the target of 750,000 barrels of oil per day (bopd) production...
As the COVID-19 pandemic continues to batter oil prices along with global demand, major exploration and production companies are growing concerned about storage space for all the oil that is not being consumed.
It therefore means that along with making...
Italian-based oilfield services company Saipem has been awarded a contract by GAZ-SYSTEM S.A. for the transportation and installation of a natural gas pipeline between Denmark and Poland in the Baltic Sea. The contract, signed by its controlled subsidiary in U.K. Saipem...
