News

Brazil’s pre-salt Búzios field in the Santos Basin has reached a record average production of 1.1 million barrels of oil per day (b/d). Petrobras announced on June 24 that this surpasses the previous milestone of 1 million b/d set...

PARAMARIBO, SURINAME – Countries developing new offshore oil industries must ensure their citizens are active participants rather than passive observers, Guyana's Natural Resources Minister Vickram Bharrat said on Wednesday, arguing that broad local participation is essential to managing public...

Students entering Guyana’s maritime sector, as well as those already working in the industry, must be prepared for continuous learning, said MatPal Marine Institute Secretary and Director Coleen Abrams, who told attendees at the institute’s Career Exhibition on June...

Guyana’s offshore oil industry has rapidly evolved into one of the world’s most significant deepwater developments, with production from the ExxonMobil-operated Stabroek Block averaging 903,000 barrels per day (b/d) in April. While ExxonMobil and its co-venturers Hess and CNOOC invest...

Guyana’s government still views Cybele Energy as committed to the country’s oil sector, even as the company’s overdue US$17 million signing bonus has forced the matter before the state’s legal team. Minister of Natural Resources Vickram Bharrat told OilNOW that...

Cooking gas from Guyana’s proposed gas bottling plant at Wales, West Bank Demerara, could help lower operating costs for major hotels and restaurants. The Guyana government is currently working on procuring a developer for the facility. The potential benefit would...

Brent crude prices could fall to US$70 per barrel by the fourth quarter of 2027 as the global oil market remains well supplied, even after the disruption caused by the Strait of Hormuz crisis, according to Wood Mackenzie. In a...

Caribbean maritime governance is set for a significant upgrade following the launch of the Caribbean Sustainable Maritime Transport – Law (Carib-SMART-Law) project by the International Maritime Organization (IMO), a two-year initiative aimed at strengthening legislative frameworks and institutional capacity...

Baker Hughes has secured a major subsea production systems award from Azule Energy to support operations in Angola’s Greater PAJ development, according to a press release issued June 25. The company said it will supply deepwater horizontal tree systems designed...

Dear Editor, I have been thinking a lot about the way the world is changing, and how prepared our children really are for it. When I was growing up, many of us were told that once you worked hard, got an...