News

(Bloomberg) --Oil fell sharply with broader markets as renewed restrictions on movement in Europe clouded the outlook for consumption once again. Crude futures in New York fell 4.6%, while those in London retreated below $40 a barrel, the lowest since...

Hess Corporation, a 30 percent stakeholder at the Stabroek Block offshore Guyana, said on Wednesday that the estimated gross discovered recoverable resources have been updated to approximately 9 billion barrels of oil equivalent (boe) on the block. In releasing its...

French multinational oil and gas company Total has made a significant gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. The company said Wednesday this...

In addition to employing Guyanese in the oil and gas industry, local content development also includes investing in these human resources and developing the skills and capacity needed to support the exploration and production activities in the South American...

China National Offshore Oil Corporation (CNOOC), a 25% stakeholder in Guyana’s Stabroek Block, said it achieved a total net production of 131.2 million barrels of oil equivalent (boe) for the third quarter of 2020, representing an increase of 5.1%...

(Reuters) Crude inventories at Venezuela’s main oil export terminal, Jose, have hit their highest levels since August as customers shy away from state oil company Petroleos de Venezuela due to U.S. sanctions, a document seen by Reuters on Monday...

(S&P Global Platts) BP has handed over operatorship of an environmentally sensitive exploration block offshore Brazil in the Amazon Delta to state-run oil company Petrobras, BP confirmed Oct 26. Petrobras will take over the operation of the FZA-M-59 block in...

Malaysian oil and gas company PETRONAS said Tuesday an incident involving a vessel which made contact with platform structures occurred at the Baram field, 14 nautical miles off Miri at 6.23 am on October 27, 2020. The vessel, MV Dayang...

The pandemic-driven downturn in the oil and gas industry is threatening the global floater fleet which could see up to a quarter of the installations being scrapped, even as orders for new oil producer Guyana is set to grow. Rystad...

The Civil Defense Commission’s (CDC) Voluntary Emergency Response Team (VERT) programme which began in 2018 with support from ExxonMobil Guyana, the University of Guyana, the Caribbean Disaster Emergency Management Agency and the Guyana Defence Force, is now playing an...