News

(S&P Global Platts) Crude futures rallied nearly 3% March 11 amid a rising tide of bullish sentiment fueled by improved second-half 2021 outlooks. NYMEX April WTI settled $1.58 higher at $66.02/b, and ICE May Brent climbed $1.72/b to $69.62/b. In its...

(S&P Global Platts) Shell has appointed Andrew Mackenzie, former CEO of mining giant BHP and a former senior leader at BP to take over as chairman starting May, as the Anglo-Dutch major pursues a new transition strategy, it said...

Just over a year since oil production began at the Stabroek block offshore Guyana, the government secured its highest price yet for the export of Liza crude in February, coming in wake of a 12-month period that saw massive...

ExxonMobil Guyana said in an update on Wednesday that the flash gas compressor that was sent to Germany for repairs after encountering technical issues in January is now making its way back to the South American country. “The flash gas...

NiQuan Energy’s Gas to Liquids plant, located at Pointe-à-Pierre, was declared open this week by Prime Minister of Trinidad and Tobago, Dr Keith Rowley. The plant has a nameplate capacity of 2,400 barrels per day and produces high performance, low...

Guyana’s Ministry of Natural Resources announced on Wednesday that payment for the fifth oil lift was received into the Natural Resources Fund Account. On February 5, 997,420 barrels of oil were lifted from Liza Destiny with a value of US$...

Schlumberger and ENGIE Solutions collaborated on geothermal drilling project to support the heating energy needs of Velizy-Villacoublay, France with more than 60% renewable energy ENGIE Solutions, Schlumberger and SMP Drilling have completed a 1,600-meter-deep geothermal drilling project in Vélizy-Villacoublay, France,...

Equinor and partners Vår Energi and Petoro have struck oil in exploration well 7220/7-4 in production licence 532 in the Barents Sea. Recoverable resources are so far estimated at between 5 and 8 million standard cubic metres of recoverable...

The drill ship Stena Carron is on a back-to-back exploration campaign offshore Guyana at the ExxonMobil-operated Stabroek and Canje blocks where it has already spudded one prospect and will be moving to drill the other later this week. “The Stena...

Since the start of the Guyana Petroleum Resources Governance and Management Project in April 2019 which is backed by a US$20M World Bank loan, the oil-producing state has only utilized 23 percent or US$4.77M of that funding. This is according to the...