News

Eni gets greenlight from US authorities to offload crude from tilting oil tanker

The Energy Chamber of Trinidad and Tobago said in an update on Friday that Italian-based multinational oil company, ENI has been given the green light from the United States to offload crude oil from the Nabarima FSO, without breaking...

Significant opportunities exist across a multitude of sectors – Bharrat tells Dubai investors

Guyana’s Minister of Natural Resources, Vickram Bharrat, told a team of investors from Dubai during a recent meeting that significant business opportunities exist across several sectors, including areas outside of oil and gas. The Natural Resources Ministry said Saturday that...

Guyana has the largest new conventional liquids play the world has seen in a decade

The increase in the estimated gross discovered recoverable resources at the prolific Stabroek Block offshore Guyana places the South American country at the top of the list for the largest new conventional liquids play in the world over the...

Stabroek Block offers best options in a global industry under pressure

Even as the global pandemic continues to cast a shadow on the oil and gas industry, its unprecedented effects have not eclipsed the attractiveness of Guyana’s world-class oil finds.  In fact, it has served to highlight how advantaged the...

Oil major Total looking to pursue renewable energy, other investment opportunities in Guyana

French oil company Total is looking to pursue further investment opportunities in Guyana with special interest in the areas of low carbon and renewable energy. President and Chief Executive Officer (CEO) Jean-Michel Lavergne, and Oliver Wattez, Guyana Branch General Manager...

ExxonMobil sees oil market in ‘early stages of recovery’, Guyana offshore remains top priority

Even as it reported a third-quarter loss of $680 million on Friday following its largest-ever loss of $1.1 billion in Q2 2020, ExxonMobil Corporation said it sees the global oil market as being in the ‘early stages of recovery’...

Guyana remains committed to low carbon development – President tells international community

The preservation of Guyana’s forests and adherence to the country’s Low Carbon Development Strategy (LCDS) in order to combat climate change and lower carbon emissions is a critical objective of the the new oil producing country. On Thursday, President Irfaan...

Liza Phase 1 production now averaging 105,000 bpd, peak output expected by December – Hess

Gross production from the Liza Phase 1 Development at the Stabroek Block offshore Guyana has been averaging 105,000 barrels of oil per day in the last few weeks with a full ramp up in output expected by December. This is...

Shell looking to strike it big on ‘Golden Lane of Oil in the Guianas’ six years after walking away from Stabroek Block

Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to strike it big on the...

ExxonMobil announces 1900 job cuts in United States

US oil major ExxonMobil said on Thursday as part of an extensive global review announced earlier this year, it plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company said...

Latest News

Guyana hits record three-quarter million barrels of oil per day

Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil...