News

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...

Sarawak Shell Berhad, a subsidiary of Shell plc, has completed the sale of its non-operated interests in two offshore production sharing contracts (PSC) in the Baram Delta to Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP). Shell had a 40%...

While he acknowledges that there is a paucity of technical skills, Vice President, Dr. Bharrat Jagdeo said the country cannot wait until capacity is picture-perfect to develop the massive oil and gas resources in the Stabroek Block. The high-ranking...