News

The fifth vessel for the Petrobras-operated Buzios Field has started its voyage from the MODEC shipyard in China to South American nation Brazil. Petrobras said that the floating, production, storage, and offloading (FPSO) platform ‘Almirante Barroso’ will carry out navigation...

After having made more than 30 discoveries offshore Guyana with a success rate close to 90%, ExxonMobil sees the potential for the Stabroek Block’s near 11 billion oil equivalent barrels to more than double. In addition, the company sees...

(S&P Global Platts) A large fleet of refined product cargoes was en route July 19 to the southern part of South America to fill winter and harvest needs and to the Caribbean to fill summer tourist demand. Platts cFlow ship and...

China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says global research and consultancy group, Wood Mackenzie. After a solid growth in 2021, China’s...

Oilfield services provider Halliburton on Tuesday said it remains confident of years of increased drilling activity globally despite recording lower earnings in the second quarter of 2022. The company’s net income fell to US$102 million from US$263 million mainly due to the pre-tax...

In just three months, Guyana received a total of GY$48,406,316,589 (US$232,164,587.96) in royalty and profit oil payments in the Natural Resource Fund (NRF), according to a notice published in the Official Gazette dated July 18, 2022. Giving a breakdown, the Finance...

CGX Energy announced on Monday that its newly installed Chief Financial Officer (CFO) George Davis has been replaced by Daniel Sanchez – currently head of the Corporate Consolidation and Reporting team at Frontera Energy Corporation, effective immediately. Davis had been appointed CFO on July 5 but according...

As the growth of Guyana's oil and gas sector fuels development in areas where service centers are erected, the government is moving to upgrade and modernise supporting infrastructure – particularly for the transport sector. Through the Central Housing and...

US natural gas production is forecast to hit an all-time high in the coming months, racing past 100 billion cubic feet per day (Bcfd), helping feed global demand as the world faces a severe supply shortage. Rystad Energy’s analysis...

Guyana intends to invest billions of dollars in oil revenues in the country’s capital projects to build capacity and transform infrastructure.  According to the Vice President, Dr. Bharrat Jagdeo, this is “absolutely necessary” to get the most out of...