News

Demand for oil will remain above 100 million barrels per day – Aramco CEO

The global demand for oil is expected to remain over 100 million barrels per day according to Saudi Aramco CEO Amin Nasser, signaling good news for new producers such as Guyana. “There is good penetration from renewables and electric cars...

‘Women in oil and gas’ summit set for June in Guyana

A three-day summit focusing on the role of women in Guyana’s emerging oil and gas sector is set to take place in June at the Guyana Marriott Hotel, under the theme: First Oil, First Step Focusing on Women. The event,...

Brent logs worst weekly loss in a year as China virus fears swell

(Reuters) Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and...

Offshore helicopter giant created with Bristow, Era merger

Bristow Group Inc. and Era Group Inc. (NYSE:ERA) announced Friday that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification. The combined company, which...

Brazil to stay out of OPEC to make the most of output expansion

(Bloomberg) Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC. The South American nation expects to be among the top-five energy exporters by 2030, and is tapping private...

Extracting multi-billion-barrel oil resource at optimum pace key to maximising value – Exxon

With several billion barrels of oil equivalent already discovered and the potential for more being found remaining high, developing the resources at optimum pace will ensure highest returns for the South American country of Guyana and the Stabroek Block...

MoU signed between India and Brazil for oil and gas exploration

(Offshore Technology) Indian Prime Minister Narendra Modi’s Union Cabinet has approved a memorandum of understanding (MoU) on co-operation in the oil and gas sector. As part of the MoU, the two countries will focus on exploration and production (E&P) and...

Guyana among countries driving favourable outlook for FPSO market

In its 2020-2024 Floating Production Systems Outlook Report, Energy Maritime Associates (EMA), analyzed the activity in 2019, recent industry trends and conducted a sentiment survey to develop a forecast for all types of Floating Production Systems including FPSO, FLNG,...

Reuters: Guyana opening search for oil firm to trade its crude – official

Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the Director of the Department of Energy, Mark Bynoe, told Reuters in a...

Forbes: first light crude from Guyana signals start of new oil-producing region

(Forbes) As the tiny nation of Guyana sends off its first tanker full of crude, the world welcomes a newcomer to the ranks of high volume oil producers. With fresh discoveries this month off small nearby countries, this small stretch...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...