News

QatarEnergy announced a light oil discovery in the Jonker-1X deep-water exploration well drilled in the PEL-39 Exploration License, offshore Namibia. This is the third discovery made at the prospect. It said the Jonker-1X well was drilled to a total depth of...

Guyana’s Vice President Dr. Bharrat Jagdeo said a team of experts from India will be in the South American country in the coming months to strengthen the oil spill capabilities of the Environmental Protection Agency (EPA).  He said this would...

ExxonMobil has submitted an extensive Cumulative Impact Assessment (CIA) to cover its planned 35-well drill campaign in the 6.6 million acres Stabroek Block. The document outlines that Exxon’s proposed campaign aims to discover new and re-evaluate existing recoverable hydrocarbons from...

Guyana’s Natural Resource Fund (NRF) received a payment of US$82 million in February, representing revenue for the first lift of profit oil sold in the new year. The payment is recorded as GY$17,148,857,000 (approximately US$82,248,714). It is the first of...

Vice President, Dr. Bharrat Jagdeo has confirmed that the government’s auditors have completed their assessment of ExxonMobil Guyana’s US$7.3 billion investments in the Stabroek Block from 2018 to 2020. The official recently noted that the company has two months to...

Brazil’s Ministry of Mines and Energy froze the state-controlled Petrobras’ sale of assets as the new Lula administration looks to implement a new energy policy. Petrobras reported the suspension from the Ministry last 90 days, while a reassessment of the...

After cutting its losses on Guyana’s offshore acreage 10 years ago, Shell could make a stunning return. Reuters’ sources say that Petrobras, Chevron, and Shell are considering bidding on the 14 oil blocks on auction in Guyana’s current licensing round. Guyana’s...

Vice President Dr. Bharrat Jagdeo disclosed Friday that Guyana’s National Gas Strategy will examine the monetisation of resources that are outside of the Stabroek Block’s Liza field. The official said this document will be finished by year-end, adding that...

ExxonMobil Guyana is continuing drilling operations at the Fangtooth well site, which yielded a discovery last year, the Maritime Administration Department (MARAD) revealed in a notice. Operations are being undertaken by the Stena Carron rig and are expected to take...

The Norway-based Extractive Industries Transparency Initiative (EITI) has graded Trinidad and Tobago 89 points out of 100, a high overall score in implementing the 2019 EITI Standard. This Standard outlines requirements for implementing countries in their mission to disclose...