News

Eco Atlantic Oil & Gas, junior partner at the Orinduik Block offshore Guyana, says it is drill-ready and fully funded to pursue additional prospects on the block as the search for high quality hydrocarbons continue. In 2019 the company drilled...

Photos and video clips published on social media on Thursday showing a dark substance on water just off the coast of Georgetown is not from offshore exploration and production activities, according to a statement from ExxonMobil on its Facebook...

Brazilian state oil company Petrobras recorded an income of 9.205 billion dollars in 2019, which represents a 55.7 % rise compared to 2018. According to an update from the company, the greatest revenue in its history was a result of...

President of Venezuela Nicolas Maduro has declared an oil emergency, announcing a commission to revamp state oil company Petroleos de Venezuela SA (PDVSA) in a bid to rescue the country’s collapsing oil industry. According to a report in Bloomberg, the...

Brazil’s natural gas demand is set to climb to a record in 2020‒2021 at 39 billion cubic meters (bcm) per year, giving the country one of its biggest demand-supply deficits in history, Rysatd Energy said in a new report...

From discovery in 2015 to production in 2019, the Liza Phase 1 development offshore Guyana is considered to be one of the fastest deepwater project ramp-ups in the industry’s history. London–based IHS Markit said in a report this month...

Following ExxonMobil’s commercial discovery at the giant Liza field in the Stabroek Block offshore Guyana in 2015, it was confirmed that the oil found is of ‘high quality’. The term “High Quality” is commonly used to refer to crude...

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury on Tuesday announced the designation of Rosneft Trading S.A., the Swiss-incorporated, Russian-controlled oil brokerage firm for operating in the oil sector of the Venezuelan economy. A...

(Reuters) - BP halted production at its ETAP platform, which connects seven oil and gas fields in the British North Sea with the Forties Pipeline System and the CATS gas terminal, after a problem with its power generation system,...

Since the world class Liza discovery in 2015, ExxonMobil has expended more than GY$45 billion on local suppliers in the South American country of Guyana. The company said Wednesday in an activity update that more than 700 Guyanese vendors...