News

(S&P Global) Nearly 92% of all US Gulf of Mexico oil production remained shut in as Hurricane Delta moved toward the Louisiana Coast, according to the most recent federal statistics released Oct. 9. But producers were already eyeing the return...

Using a model of five developments being underway by 2025 offshore Guyana targeting an estimated 750,000 barrels of oil per day, the Inter-American Development Bank (IDB) says considering the sequencing of the projects, Guyana would ultimately accumulate around US$49...

Interest from investors in the new oil producing country of Guyana continue to grow and this is expected to see major transformational projects getting underway in the coming months and years. Guyana’s President, Dr. Mohamed Irfaan Ali, recently disclosed that...

With support from the Centre for Local Business Development (CLBD), ActionINVEST Caribbean Inc. (ACI), formerly ActionCOACH Guyana, has achieved the ISO 9001:2015 certification from the Global Compliance Service USA. This certification is the international standard for quality management systems. Executive...

(Reuters) - Venezuela’s state-run Petroleos de Venezuela has boosted crude blending and upgrading to their highest levels in six months, according to company documents seen by Reuters on Wednesday, as exports rise despite strict U.S. sanctions. The upgraders are...

As exploration and production activities ramp-up offshore the South American country of Guyana, US oil major ExxonMobil plans to reduce staffing levels across a number of its European affiliates as part of an extensive global review outlined during the...

Noble Corporation announced Thursday that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement (CEA) with ExxonMobil for work offshore Guyana.  The Noble Tom Madden was previously contracted until Mid-February 2024 and the additional...

Prime Minister of the South American country of Guyana Brigadier (ret’d) Mark Phillips says the Government is targeting a 50 percent reduction in the cost of energy in five years as it remains committed to providing stable and reliable...

Lawyers representing Guyana’s former Minister of Natural Resources and the Environment, Robert Persaud, have issued a letter to former Presidential Advisor on Petroleum, Dr. Jan Mangal, requesting that he immediately retracts ‘false and defamatory’ statements on the award of...

Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns in Venezuela, the New York Times said in a recent report. Refineries that once...