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Oil demand will continue to climb says analyst, sees 50-year window for Guyana

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Following the devastating effects of the coronavirus pandemic on the oil industry, multiple stakeholders have posited that the sector would never see pre-2019 oil demand again. They say too that the demand is tempered by the fact that more...
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Maersk Drilling bags double-rig 500-day contracts for Suriname forays

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Based on the previously announced Conditional Letter of Award, Maersk Drilling said on Sunday that it has been awarded contracts for the deepwater rigs Maersk Valiant and Mærsk Developer from Total E&P Suriname, Suriname Branch, for Total’s exploration and...
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Oil falls as concerns mount over rising coronavirus cases in China

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(S&P Global Platts) Crude oil futures tumbled during the mid-morning trade in Asia January 18, as rising coronavirus cases in China raised fresh demand-side concerns, while the spread of mutated strains of the virus also weighed down sentiment in...
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Norway set to ramp up oil production by 19%

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(S&P Global Platts) Norway expects its oil production to rise by 19% through to 2024 on the back of new developments such as Johan Sverdrup, while it is eyeing emissions reductions in the order of 40% by the industry,...
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Oil price projections remain uncertain, Guyana already warned not to spend what it doesn’t have

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Extreme price volatility has been a key feature of the oil industry and can have a major impact on the ability of governments to plan effectively on how to invest oil revenues. The outbreak of the coronavirus has further...
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Let local content policy be responsive to conditions on the ground, expert urges

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Guyana has just entered its second year as an oil producing country and the question of how to maximize benefits for the local population remains at the forefront of ongoing discussions. While stakeholders across the board agree that implementing...
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Halliburton delivers industry’s first successful grid-powered fracturing operation

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Halliburton Company said on Thursday it has successfully deployed the industry’s first electric grid-powered fracturing operation. The job, being performed on several pads for Cimarex Energy Co. in the Permian basin, started in November. To date, Halliburton said it has...
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Exxon has made 18 commercial discoveries out of 22 exploration wells drilled in Guyana

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The success rate for finding commercial quantities of hydrocarbons offshore Guyana remains one of the highest in the oil and gas industry. Supported by state-of-the-art technology and highly trained geoscientists, U.S oil major ExxonMobil has had a remarkably good...
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Company planning to use recycled oil waste for production of bitumen, liquid mud

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Oilfield Waste Management Services (OWMS) plans to construct a thermal desorption waste treatment plant in Guyana to support the growing oil exploration activities offshore the South American country. Recycled oil from the treatment plant will be used in the...
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Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

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U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall Street Journal, regarding the valuation of its assets in the Permian Basin. The Journal reported on...
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Exxon committed to building local capacity – Professor Sankat

Professor Clement Sankat, Director of the Guyana Technical Training College Institute (GTTCI), has lauded ExxonMobil’s contribution to the country's...

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