News

(Reuters) - TechnipFMC's shares slid on Tuesday, a day after the oil services company said it had overstated its first-quarter net income by $209.5 million. TechnipFMC said late on Monday that the overstatement stemmed from accounting errors related to its...

US super-major ExxonMobil says it has not yet made a final decision on a second Floating Production Storage and Offloading (FPSO) vessel for development and production operations offshore Guyana.With gross recoverable resources for the Stabroek block now estimated to...

US Ambassador to Guyana, Perry Holloway, is calling on all Guyanese to become oil smart. The Ambassador's call came just days before yet another discovery was announced by US super-major, ExxonMobil, off the Guyana coast. “This is a tremendously,...

The announcement on Tuesday by ExxonMobil of a new oil discovery at the Payara-2 well has reinforced a widely held belief that significantly more oil than what has so far been detected may lie beneath the Atlantic Ocean offshore...

ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the estimated gross recoverable resource for...

(Reuters) State oil giant Saudi Aramco plans to increase security around its offshore facilities and has received bids for the work from defense firms, industry sources told Reuters. Bidders include Raytheon Co of the United States, Germany's Rheinmetall AG, Leonardo's...

The Guyana government says it remains committed to doing what is best for the country's emerging oil and gas industry and will continue to pursue measures that allow for transparency in the sector. Speaking at a public meeting of the...

As US officials remain divided on the exact measures that should be taken against Venezuela should a July 30 vote that could strip lawmakers of their constitutional power, goes through, one Senator is warning that a ban on Venezuelan...

The Extractive Industry Transparency Initiative (EITI) requires that all implementing countries, one of which Guyana hopes to soon become, provide a comprehensive reconciliation of company payments and government revenues from the extractive industries. EITI believes an understanding of company...

Widespread consultations on the creation of a Sovereign Wealth Fund (SWF) and ensuring that the fund is insulated from political interference are two areas that US Ambassador to Guyana, Perry Holloway, pointed to when creating a fund that works...