Wednesday, December 7, 2022

News

Rosneft drills world’s longest well

Russia-based Rosneft, as a member of Sakhalin-1 Consortium, successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently...

Guyana should start borrowing money now to fix crumbling infrastructure – Presidential Advisor

While Guyana will not receive revenue from oil production until 2020, Presidential Advisor on Petroleum, Dr. Jan Mangal, believes the South American country’s government can pursue loans now to begin fixing crumbling infrastructure. He said how oil revenue is ultimately utilized...

Siemens cutting 6,900 jobs in power & gas, other divisions

Siemens AG has announced that it will cut around 6,900 jobs worldwide in its Power and Gas Division (PG), Power Generation Services Division (PS) and Process Industries and Drives Division (PD) over the next ‘several years’. Most of the cuts,...

Keystone Pipeline leaks 210,000 gallons of oil in South Dakota

(CNN) A total of 210,000 gallons of oil leaked Thursday from the Keystone pipeline in South Dakota, the pipeline's operator, TransCanada, said. Crews shut down the pipeline Thursday morning and officials are investigating the cause of the leak, which occurred about...

World’s biggest wealth fund wants out of oil & gas

(Bloomberg) The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks. Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to...

Hess sees Guyana as “growth engine”, sets aside billions to prefund oil development in Stabroek Block

In a presentation at the Bank of America Merrill Lynch 2017 Global Energy Conference on Thursday, Hess Corporation (NYSE:HES) Chief Executive Officer John Hess, disclosed a number of steps the company is taking, which is the clearest indication yet that it is betting big on...

SBM seeking manpower services for Liza Destiny as conversion of VLCC begins

SBM offshore subsidiary; Guyana Deep Water Operations Inc. (GDO), is inviting companies to bid for the provision of manpower services for the operation of the Liza Destiny FPSO, scheduled to arrive in Guyana late 2019. GDO said via a public...

16 Guyanese now equipped with culinary skills for offshore catering

Sixteen Guyanese between the ages of 19 and 36 completed a three-day introductory program in Offshore Catering and Hospitality Techniques on Wednesday, facilitated by Carnegie School of Home Economics with support from manpower services provider, El Dorado Offshore (EDO). See...

OPEC predicts global oil demand will surpass 100 million bpd by 2040 requiring US$10.5 trillion in investments

The latest edition of the OPEC World Oil Outlook predicts oil will remain the world’s largest source of energy over the next two decades, despite the increasing importance of renewables. Released in an exclusive briefing to senior industry executives at...

Noble Group shares drop to lowest since 1999 after Co-CEO quits

(Reuters) - Shares in Singapore-listed Noble Group on Tuesday tumbled as much as 12.7 percent to their lowest in nearly two decades, after Jeffrey Frase resigned as Co-Chief Executive Officer (CEO). The beleaguered commodity trader said on Monday that Frase...

Latest News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking...