News

Bayphase recently assisted the Guyana government with the review of ExxonMobil’s proposed amendments to its Liza development to accommodate the Gas-to-Energy project.  The UK-based firm said on its website that its work concerned the preparation of two reports summarising its...

Venezuela’s PDVSA is making headlines again. And not in a positive way.  Just when Venezuela’s oil industry appeared to be on the rebound, PDVSA has been hit with a major corruption scandal investigation, one that has seen its Energy Minister...

A.P.Møller-Mærsk A/S, commonly known as Maersk, has unveiled the concept for its first green fuel-powered vessel, being constructed by Hyundai Mipo Dockyard.  The feeder vessel will be outfitted with a dual-fuel engine, the company said in its announcement, with the...

With 11 billion barrels of oil equivalent resources in the Stabroek Block, and multi-billion barrels poised to be unlocked, Guyana could soon see more than a trillion Guyana dollars being deposited annually into its Natural Resource Fund (NRF). With such...

Guyana’s Ministry of Natural Resources has rehired Bayphase to provide consultancy services for the review and evaluation of the Uaru field development plan.  Uaru is the fifth oil development in ExxonMobil’s Stabroek Block project pipeline.  Bayphase won the contract over Stratoil,...

Guyana's Ministry of Natural Resources (MNR) has responded to recent comments about the country's development, which it called an attempt to undermine the progress made to manage its rapidly growing economy.  It was University of the West Indies (UWI) lecturer...

Wood Mackenzie forecasts United States crude oil production will reach a new record high of 13.3 million barrels per day (b/d) by the first quarter of 2024. This represents an upward climb since Joe Biden assumed the presidency.  In a...

Global provider of energy data and intelligence TGS, together with leading geotechnical data service providers CGG and BGP, have completed Phase IV of its deepwater seismic survey off the coast of Suriname.  Final data products from the survey will be...

Guyana’s Maritime Administration Department (MARAD) issued a notice that ExxonMobil Guyana is continuing drilling operations at Fangtooth_2 within the Stabroek Block.  Fangtooth-1 unlocks new play; will ‘add significantly’ to 10-billion-barrel oil resource – Hess This further demonstrates the Exxon-led consortium’s prioritisation...

Trinidad and Tobago's economy got a favourable outlook from the International Monetary Fund (IMF) for 2023, seen as a positive sign that it is slowly recovering after years of struggling.  But its former Minister of Energy, Kevin Ramnarine disagrees. “The International...