News

(CNBC) New York’s Attorney General failed to prove that Exxon mislead shareholders over the true cost of climate change, a judge ruled Tuesday, ending the oil giant’s multiyear battle against the state. “The Office of the Attorney General failed to prove, by...

The Joint Venture partners at the 1,800km2 Orinduik Block offshore Guyana have opted to enter the next exploration phase of the Orinduik Petroleum Agreement and have since submitted their official notice to the South American country’s Department of Energy. The JV...

Despite encountering 6 dry holes in its Nearshore Drilling Project (NSD), Suriname state oil company Staatsolie says the campaign allowed for valuable data to be collected which could play a key role in ultimately hitting pay offshore the Dutch-speaking...

(Reuters) - Brazil will push to expand oil drilling in its massive “pre-salt” oil and gas area off its coast in spite of growing global concerns about climate change, the country’s energy minister told Reuters on Monday. Brazil’s Mines and...

SBM Offshore says it remains committed to building the capacity of its Guyanese workforce as part of plans to become fully integrated in the South American country. These objectives were emphasised at the second annual Guyana International Petroleum Exhibition (GIPEX),...

UK-based Tullow Oil said on Monday Paul McDade, Chief Executive Officer, and Angus McCoss, Exploration Director, have resigned from the Board by mutual agreement and with immediate effect. This comes as the company reported that while its financial performance...

Major offshore discoveries this year include countries as diverse as Russia, Cyprus, South Africa, Malaysia and Guyana. The majority of major discoveries so far this year have been in the offshore sector with over half being deep-water finds, VesselsValue,...

As US oil major ExxonMobil, operator at the 6.6 million acres Stabroek Block, prepares for first oil in the South American country of Guyana, the company is also ramping up its search for more hydrocarbons with a number of...

Mexican state-owned petroleum company Petróleos Mexicanos (Pemex) announced on Friday the discovery of the Sen field in Nacajuca, Tabasco, with 536 million barrels of oil equivalent. General Director of Pemex, Octavio Romero Oropeza, informed Mexican President, Andrés Manuel López Obrador that three other...

Barring unfavourable weather conditions or other factors that could result in a delay, the South American country of Guyana could now be just weeks away from producing its first barrel of oil, thereby ushering in a new era of...