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Guyana expected to play key role in South America’s petroleum output over next decade

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South America’s oil and gas output is expected to stay rather flat over the next five years, increasing to around 11.7 million barrels of oil equivalent per day (boe/d) by 2025, says Norway-based Rystad Energy. The declining production from...
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ExxonMobil aiming to curb gas flaring by 25% in less than 2 years

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US oil major ExxonMobil said on Wednesday it intends to cut back on natural gas flaring by 25% and methane emissions by 15% in less than two years. The announcement is part of the company’s greenhouse gas reduction measures which...
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Except for Venezuela Latin America O&G outlook stable says Moody’s

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The outlook for the Latin American oil and gas industry is stable, Moody's Investors Service says in a new report. Over the next 12 to 18 months, favorable economic and regulatory environments will support solid operating results for the...
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Jamaica encouraged by 3D oil and gas surveys

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(Amsterdam News) Jamaica is fancying its chances of becoming the latest Caribbean Community nation after Guyana to find commercial quantities of oil and gas in the wake of encouraging indications from the most recent round of offshore surveys. Jamaican authorities...
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Venezuela’s slump, Iran sanctions and oil prices: a potent cocktail brewing?

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Global oil supply will break through the 100 million b/d mark for the first time later this year. Producers the world over, through innovation and risk-taking, have invariably contrived to meet the unstoppable train that is demand growth, says...
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‘Pay more attention to oil price rather than contract’ – urges Guyanese engineer

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The volatility of oil price is a key factor in making projections about revenue, and as such, keen attention should be focused in this area as Guyana moves towards first oil.  In fact, Guyanese scientist and Director at Mid-Atlantic...
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Venezuela election: Maduro expels top US diplomat

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(BBC) Venezuela has expelled the senior US representative in the country amid an international backlash against Nicolás Maduro's re-election as president. Mr. Maduro announced the expulsion of charge d'affaires Todd Robinson as his victory in Sunday's vote was being proclaimed...
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World Bank, Guyana gov’t stage high-level workshop on Sovereign Wealth Fund

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The World Bank and Government of Guyana staged a high-level workshop on Stabilization/Sovereign Wealth Funds on Monday in the South American country’s capital, Georgetown, as part of a number of initiatives being taken to enhance knowledge and understanding of...
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Kosmos encounters ‘stability issues’ at Anapai-1; to re-spud well

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The highly anticipated results from the Anapai-1 well in Block-45 offshore Suriname will be delayed by another 50 to 60 days after the Ensco DS12 drillship encountered shallow bore hole stability issues before reaching the target interval, Kosmos Energy...
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Opponents slam Venezuelan President Nicolas Maduro’s election victory as a sham

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(CNN) Socialist President Nicolas Maduro has won another six years in power in crisis-hit Venezuela, in an election that the political opposition and foreign powers have denounced as a sham. Many eligible voters boycotted Sunday's polling, bringing turnout to a lackluster 46%,...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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