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IEA warns global oil demand may suffer as crude nears $80

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Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. The Paris-based IEA cut...
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Guyana seeking initial US$1.7M from World Bank to help fund ‘gas to shore’ study

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Minister of Natural Resources, Raphael Trotman, has disclosed that the Government of Guyana through the Ministry of Finance has applied to the World Bank for the release of an initial 1.7 million US dollars, out of the 20 million...
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Repsol to end pursuit of oil growth in light of clean energy push

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Spanish company Repsol plans to end its pursuit of oil growth amidst a global move to transition to clean energy. This is according to a Bloomberg report published on Tuesday. According to the article, the company is the first of...
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First batch of TOTALTEC oilfield operator trainees to graduate this month

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The TOTALTEC Academy will have its inaugural graduation ceremony during the week of May 28, 2018 to recognize and congratulate the 20 or so pioneering graduates and to welcome and inspire the new recruits for the next scheduled Oilfield Operator Training...
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‘Governance framework’ to ensure local content compliance

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Guyana’s second draft Local Content Policy Framework outlines the requirement of a ‘governance framework’ to ensure compliance by stakeholders in the oil and gas industry. The country’s Ministry of Natural Resources released the second draft Local Content Policy Framework on...
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Analysis: Malaysia regime change heralds risks for Southeast Asian oil and gas

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(Platts) The surprise outcome of Malaysia's historic 2018 elections has elevated risks for the oil and gas sector in Southeast Asia, stemming from the winning coalition's stance on fuel subsidies, its position on Chinese business investment and potential interference...
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Anapai among ‘high profile’ wells being drilled in 2018 – WoodMac

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Industry analyst Wood Mackenzie has compiled a list of the ‘highest profile’ wells being drilled in 2018 based on data received from more than 200 senior energy leaders and professionals. In its new ‘The Future of Exploration Survey 2018’ report,...
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PCJ looks to next phase of oil exploration as first 3D seismic survey is completed in Jamaica

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(The Gleaner) The Petroleum Corporation of Jamaica (PCJ) is hoping that the post survey data analysis of the first 3D seismic survey of Jamaica's offshore in the exploration for oil and gas will be encouraging enough to move the...
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ON Energy PSA: 53% profit oil, 1% royalty for Guyana

OilNOW -
The Production Sharing Agreement (PSA) between the Government of Guyana and ON Energy, signed on February 12, 2013, outlines a 53% share of profit oil for the South American country and 1% royalty, payable by the company. Recoverable contract...
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Guyana contracts American firm to review ExxonMobil application for giant Liza Phase 2 development

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The Environmental Protection Agency (EPA) has hired an American company; Rampal US Corporation to assess and certify an Environmental Impact Assessment (EIA) study for the ExxonMobil Liza phase II development. This was confirmed on Friday by Guyanese Minister of State,...
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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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