News

When he attended the United Nations Framework Convention on Climate Change’s (UNFCCC) 26th Conference of Parties (COP26) last November, Guyana’s President, Dr. Mohamed Irfaan Ali, told world leaders that forests constitute a powerful arsenal in the fight against climate change. He...

Pertamina, the state-owned energy company for Indonesia and oil major ExxonMobil have entered an agreement for a study to gauge the potential for the implementation of lower-emissions technologies, like carbon capture and hydrogen production, on a large scale. The deal adds to Indonesia’s efforts to advance carbon capture and storage in...

Petróleo Brasileiro S.A. (Petrobras), Brazil’s state-owned multinational oil producer, plans to add 14 floating production, storage and offloading (FPSO) vessels offshore Brazil in the next four years, according to its Strategic Plan 2022-2026. The plan listed 15 FPSOs altogether. The first,...

Chevron Corporation announced Tuesday it has sanctioned the Ballymore project in the deepwater U.S. Gulf of Mexico. The project, with a design capacity of 75,000 barrels of crude oil per day, will be developed as a three-mile subsea tieback...

While the Guyana government has outlined a series of comprehensive reforms it intends to take over the next decade in its Low Carbon Development Strategy (LCDS) 2030, it has determined that it is also important to ensure international oil companies (IOC)...

Plagued with years of declining economic growth, Trinidad and Tobago is facing challenging times. For failing to sufficiently diversify its economy in the hundred plus years since it started producing oil, Trinidad is dependent on gas production to keep...

Guyana’s Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall said that oral arguments on the challenge to Guyana’s oil fund law which was passed in December are set for September 12. He approached the nation’s Supreme Court last week with...

With the rapid pace of Guyana’s development, Vice President Dr. Bharrat Jagdeo said the country would eventually need to import labour to support the increasing demand sometime in the near future. He made the comments during an online discussion on...

Non-OPEC countries are expected to produce 65.97 million barrels of oil per day (b/d) in 2022, a year-on-year rise of 2.4 million b/d compared with 2.7 million b/d forecast last month. The oil cartel said the main drivers of supply...

In its latest Upstream Report released this month, Rystad Energy said when comparing capex guidance for 2022 with actual spending in 2021, US oil major ExxonMobil is among those companies set to face the largest year-on-year growth. Hess Corporation,...