News

Even though Guyana enjoys an advantaged position as a world-class exploration hotspot with its light, sweet crude, and low breakeven costs for deepwater projects, it must remain focused on ensuring industry players comply with its rules and upkeep contract...

ExxonMobil, Shell and CNOOC are expected to be the most active explorers by the end of 2021 with a significant portion of the offshore activity taking place in Guyana where multiple prospects remain on the prolific Stabroek block and...

Shipping company Soreidom, with operations in South and North America, the Caribbean and Europe, has been operating in Guyana for over a decade and is now looking to tap into the new opportunities in the oil and gas industry. For...

In light of Venezuela’s heightened aggression which saw the recent illegal detention of two Guyanese registered vessels and their respective crews on January 21, last, many have expressed concerns about the possible interference or disruption of Guyana’s oil production activities being led by ExxonMobil...

Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...

(S&P Global Platts) Global oil demand will rebound by more than 6 million b/d in 2021 and return to 2019 levels a year later despite the sharp acceleration in coronavirus infections and new lockdowns which have hit energy consumption from...

Petrobras said on Friday it has identified the presence of hydrocarbon in a pioneer well in the CM-411 block, located in the Campos Basin pre-salt, in the State of Rio de Janeiro. Well 1-BRSA-1377-RJS, informally called Urissanê, is located approximately...

An increasing number of local businesses are tapping into the oil and gas supply chain. This is an observation from the Georgetown Chamber of Commerce and Industry (GCCI). Officials from the Chamber noted that some Guyanese entrepreneurs established new...

ExxonMobil Guyana said on Friday an issue has been encountered with the gas compressor system onboard the Liza Destiny FPSO and the company is working with the operator of the vessel to have the matter rectified. In an operations update,...

As Guyana embarks on its second year as an oil-producing nation, Chief Economist at the American Petroleum Institute (API), Dr. Dean Foreman, said it is in the country’s best interest to remain focused on building on its success and...