News

Global oil demand is recovering from its May low as refined product supplies rebound, but the International Energy Agency (IEA) still expects average consumption in 2026 to be about 1 million barrels per day (b/d) lower than in 2025. “A...

Guyana's offshore oil industry depends on more than drilling rigs and floating production, storage and offloading (FPSO) vessels. It also relies on a growing maritime workforce that keeps people, equipment and supplies moving between shore and offshore operations. Since production...

Building Guyana’s future energy workforce will require more than producing graduates. It will require identifying talent early, aligning university programs with industry needs, and creating pathways that move students from the classroom into technical and leadership roles. That is the...

ExxonMobil allocated US$935,000 to training, research and development, and scholarships for Trinidad and Tobago nationals during its first contract year on Block TTUD-1. The funding formed part of US$3.66 million paid directly to the Ministry of Energy and Energy Industries...

Chevron is opening the door for wider use of a technology it developed to help oil producers extract more crude from existing wells. The company announced on July 8 that its research arm, Chevron Technical Center, has signed a licensing...

A new basin modelling study has identified an area near Suriname’s Block 52 as the strongest oil-generating sweet spot along the Guyana-Suriname margin. GeoExpro published the study results on July 9, 2026. The research was conducted by Kenneth Shipper and...

Businessman and former Georgetown Chamber of Commerce and Industry (GCCI) President Timothy Tucker has warned that Guyana’s efforts to broaden participation in the oil and gas sector through local content measures could be undermined by the continued re-bundling of...

Guyana’s oil production has surpassed 900,000 barrels per day, driven by output from the Stabroek Block developments operated by ExxonMobil Guyana and its co-venturers.  With the industry’s expansion, the notion that Guyanese must look overseas for oil and gas training...

Staatsolie Maatschappij Suriname N.V. has received the fourth proposal under its Open Acreage model, extending a run of offshore proposal activity as Suriname works to advance its oil production ambitions. The state oil company announced on July 7, 2026, that...

Shell says its Merlin-1X exploration well offshore Namibia has delivered the most promising subsurface results recorded to date in Petroleum Exploration Licence No. 0039 (PEL 0039), strengthening the company's assessment of the Orange Basin's resource potential. In a statement released...