News

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session's losses as risk-on sentiment gripped the markets following the US House of Representatives' approval of further...

Experts set to discuss Guyana’s gas to power project in OilNOW TV Sunday premiere

A panel discussion on Guyana’s planned gas to power project will premiere on OilNOW TV this evening as part of a series focusing on the initiative that is expected to have a significant transformational impact on the new oil...

Suriname lines up new shore base port

(Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms of discovered oil and gas reserves. And all this from just one offshore find in Block 58, and without counting...

Proposal to have 111 categories of service with high local content targets unrealistic – AMI Co-Director

If Brazil with a population of over 200 million people found it difficult to achieve high or progressive local content targets for 90 categories of service, how does Guyana propose to do a better job with a smaller population...

Coming oil price bounce, supply shortfall opening space for Guyana barrels

More space is being created on the oil market for Guyana’s medium sweet Liza Crude as prices are expected to rise amid a coming shortfall in supply. According to the findings of a Reuters Poll published on Friday, oil prices will stage a...

New York Stock Exchange begins delisting CNOOC

The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an executive order signed by former U.S. President Donald Trump in November last year, Reuters said in a...

CDC hosts major oil spill response workshop ahead of exercise to test Guyana’s capabilities

Guyana’s Civil Defence Commission (CDC) is partnering with US State agencies, Pacific Disaster Center, ExxonMobil, and the French and Canadian Armed Forces to build the South American country’s National Oil Spill Capabilities. The Commission on Thursday collaborated with regional and international...

In historic move, Exxon takes Canadian oil sands off its books

(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history. Exxon counted the equivalent of 15.2 billion barrels of reserves...

Reassembly of gas compressor completed, testing to begin – ExxonMobil

ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and the machine is now being prepared for testing at the MAN Energy Solutions workshop in...

Exxon sees unprecedented progress in local content development in Guyana – Routledge

President of ExxonMobil Guyana, Alistair Routledge said this week he has seen unprecedented levels of progress in local content development and stressed the importance of education and training for Guyanese, in order for them to benefit from the opportunities...

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Petrobras confirms new pre-salt oil discovery in Campos Basin offshore Brazil

Brazilian state-controlled energy company Petrobras has confirmed a new pre-salt oil discovery in the Campos Basin offshore Brazil, located...