News

Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets...

By David E. Lewis and Anthony T. Bryan - Caribbean News Global At the end of last year, the tiny South American nation of Guyana made headlines as the country predicted to register the world’s fastest economic growth rate in...

(Reuters) - Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand. Brent crude was down...

Halliburton Company and TechnipFMC today introduced Odassea™, the first distributed acoustic sensing solution for subsea wells. The technology platform enables operators to execute intervention-less seismic imaging and reservoir diagnostics to reduce total cost of ownership while improving reservoir knowledge. The...

In a decision delivered on Wednesday July 8, the Caribbean Court of Justice (CCJ), Guyana’s highest court, ruled that the judgment handed down by the Guyana Court of Appeal on June 22, 2020, which was used by the Chief...

(Reuters) - Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro...

The South American county of Guyana is being urged to use its oil revenue to further green initiatives as the region and world continue to face a growing climate change emergency. British High Commissioner to Guyana, Greg Quinn, is of...

Investors like stability and predictability. Knowing what to expect in the future forms the basis for multimillion-dollar investments in the present, or alternatively, taking those resources to another more favourable destination. In an article published in Forbes on July 2,...

UK-based TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt. TechnipFMC said Tuesday this EPC contract covers new...

(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on...