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Brent closes week at $85

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(Reuters) - Oil traded just below multi-year highs on Friday with bullish sentiment about low supplies tamped by concerns from world leaders that demand disruptions from the COVID-19 pandemic may not be over. Brent crude futures rose 92 cents, or...
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Giant Yellowtail project to cost over GY$1.8 trillion

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ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) will make a Final Investment Decision (FID) on its fourth project to be developed at the Stabroek Block, at Yellowtail, pending government and environmental approvals. Initial estimates have so far indicated...
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Consortium signs multi-client agreement for seismic campaigns offshore Suriname

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TGS, a global provider of energy data and intelligence, in a consortium with CGG and BGP announced on Wednesday the signature of a multi-client agreement with Staatsolie, the state-owned company leading the development of the energy industry in the...
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Guyanese should retain majority stakes, profits in partnerships with foreign businesses – Tucker

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When local and foreign businesses form partnerships to tap into opportunities in the oil and gas sector in Guyana, the Guyanese partner should not just be a majority-owner of the business for it to be considered ‘local’ but should...
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Exxon debates abandoning some of its biggest oil and gas projects

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By Christopher M. Matthews, Emily Glazer - The Wall Street Journal (Fox Business) Exxon Mobil Corp.’s XOM 0.55% remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a...
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Chamber calls for Local Content Commission to monitor, enforce policy and regulations

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As the Georgetown Chamber of Commerce and Industry (GCCI) awaits the implementation of a Local Content Policy and legislation as promised by the government, the organisation is lobbying for the establishment of a Local Content Commission to ensure that...
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Guyana, UAE ink MoU to advance technical assistance, cooperation

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President of Guyana, Dr Irfaan Ali, today met with Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the United Arab Emirates, to advance closer relations between the two countries and to discuss key areas of technical...
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Norway group sees more upside to Guyana’s mega 10 billion barrel oil resources

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Guyana is one of the most promising plays to have been opened in the last decade following the discovery of the giant pre-salt reservoir in Brazil, says independent energy research and business intelligence company Rystad Energy. The new oil producing...
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Guyana on its way to racking up around US$600 million in oil sales by year end – Bharrat

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If Brent crude price continues to hover around US$85 a barrel, Guyana could comfortably get US$150M for its last two oil lifts this year says Natural Resources Minister, Vickram Bharrat. During an exclusive interview with OilNOW, the official recalled that...
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India says its open to oil supply term deal with OPEC+

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(S&P Global Platts) India is open to the idea of a term deal with OPEC + to ensure price stability in crude supplies, Oil Secretary Tarun Kapoor said Oct 20 at the India Energy Forum by CERAWeek, erasing volatile...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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