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“Elephant Man” says Guyana-Suriname Basin has big potential

Canadian oil and gas consultant Rob Strong is adamant that much more oil will be found in the Guyana-Suriname Basin, in keeping with his view that the world class Liza discovery is like an elephant; and “elephants don’t travel...

Exxon hit early jackpot by drilling “biggest, best prospects first” – Mc Gehee

ExxonMobil made the decision to begin drilling for oil in Guyana at the Liza field since this prospect was the biggest and best, based on data analysed by the company. By the time the oil major acquired rights to explore...

Repsol wins Petroleum Economist Award

Repsol’s issue of certified green bonds, the first of its kind in the global oil and gas sector, has won the recognition of Petroleum Economist magazine. The company has a Production Sharing Contract (PSC) with the Guyana Government to explore...

TransCanada: Over 24K gallons of oil recovered from spill

(AP) TransCanada Corp. says it has recovered more than 24,000 gallons of oil from the site of a pipeline leak discovered last week in South Dakota. The company said 24,450 gallons of oil had been recovered as of Wednesday. TransCanada's...

For every barrel of oil consumed over two discovered

There is an abundance of oil resources: oil resources known today dwarf the world’s likely consumption of oil out to 2050 and beyond. Global proved oil reserves have more than doubled over the past 35 years: for every barrel of...

Noble to begin drilling Liza phase 1 wells in 2018

ExxonMobil has contracted Noble Corporation for drilling of the Liza Phase 1 development wells set to begin in 2018. OilNOW understands the Noble Bob Douglas drill ship will begin its campaign by Q2 2018 and the contract is expected to...

Guyana opposition plans to press gov’t on US$20M signing bonus claim

Opposition Leader Bharrat Jagdeo, on Wednesday vowed that his Peoples Progressive Party/Civic (PPP/C) will be pressing the Guyana Government to disclose whether a US$20M signing bonus was received from US oil major ExxonMobil. Mr. Jagdeo made the declaration during his...

Maduro’s Grip on Venezuela’s oil economy tightens with purge

(Bloomberg) After quashing street protests and corralling his political opponents, President Nicolas Maduro has set his sights on Venezuela’s economic engine. The authoritarian socialist’s administration has begun a broad purge at state-owned Petroleos de Venezuela, arresting more than 50 officials...

ExxonMobil stops non-essential work in PNG highlands due to unrest

(Reuters) - ExxonMobil has evacuated non-essential staff working in the highlands of Papua New Guinea due to unrest in the area, but operations are continuing at its PNG LNG liquefied natural gas project, the company said on Thursday. “Due to...

Eight energy companies commit to reduce methane emissions within natural gas industry

BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall today committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value...

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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...