News

Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) announced Friday that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block...

The International Court of Justice (ICJ) announced on Thursday it will deliver its Judgment on the question of its jurisdiction in the case concerning the Guyana v. Venezuela Arbitral Award of October 3, 1899, on Friday, December 18, 2020. The...

Disagreements over how far and fast Royal Dutch Shell should shift towards renewables have seen several clean energy executives part ways with the company, the Financial Times said in an article on Tuesday. Shell has said it is investing more in...

Global oil reserves are not being replenished with enough conventional resources for future demand of oil and gas and this is set to create a major shortfall through 2050 despite lower future demand due to the coronavirus pandemic and...

(Reuters) - Oil rose above $49 a barrel on Thursday as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in U.S. crude inventories that showed supply remains ample. Britain began vaccinations this...

With Guyana lacking the capacity to adequately respond to large oil spills--that is, Tier Two and Tier Three spills--local companies have been playing an important role in oil spill response preparedness efforts. The National Oil Spill Contingency Plan indicates that...

(S&P Global Platts) Libyan crude and condensate exports are poised to jump to a 13-month high of 1.24 million b/d this month, according to S&P Global Platts estimates compiled using data from shipping and trading sources. This comes as Libya's...

With approximately 9 billion barrels of oil equivalent and climbing, Guyana’s deepwater resources have a smaller carbon footprint than heavy oil being produced in Venezuela, Canada and across the world. Light crude is typically in the 35-45 American Petroleum Institute...

Even though Guyana and Suriname are expected to receive significant revenues in the coming years, Antigua and Barbuda’s Ambassador to the United States, Sir Ronald Sanders, is of the view that neither country has the absorptive capacity to utilize...

(S&P Global) Russian state-owned oil and gas producer Rosneft said December 9 that it has discovered a large new gas field in the Arctic Kara Sea. Rosneft is playing a key role in Russia's Arctic strategy, which aims to capitalize...