The Guyana Revenue Authority said on Friday that based on the Petroleum Agreement between the Government and ExxonMobil affiliate Esso Exploration and Production Guyana Limited, contractors and sub-contractors are permitted to import a number of equipment and supplies duty-free...
The Venezuelan ship - FSO Nabarima - with more than 1 million barrels of crude has been immobilized and anchored in the Gulf of Paria in northeastern Venezuela since January 2019. State-owned oil company PDVSA has not been able to...
TechnipFMC said this week it was able to deliver its strongest operational results in the third quarter of 2020 mainly due to notable projects in Norway and South America, including a major contract awarded by ExxonMobil for its Payara Development...
The impact of the coronavirus pandemic continues to take its toll on the global oil and gas industry with North America being particularly hard it. Mounting bankruptcies will see associated debt running into billions of dollars surpassing the previous...
Norway-based BW Offshore said Thursday the Board of Directors of its subsidiary BW Umuroa Pte. Ltd. has taken a decision to place BWU, the owner and operator of the FPSO Umuroa, into voluntary liquidation. The FPSO Umuroa is presently...
Dutch floater specialist SBM Offshore, the builder and operator of the Liza Destiny FPSO currently producing oil offshore Guyana, is moving ahead with technological advancements that will see lower carbon intensive vessels being built, including those targeting additional developments...
A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35%...
The semi-submersible rig Maersk Developer earlier this month spudded the Sloanea-1 well in Suriname on the same day the Mærsk Discoverer began operations at the Matapal development in Trinidad and Tobago (T&T).
“Earlier this month, Maersk Developer spudded the Sloanea1...
With Guyana poised to be a major oil producer in Latin America in coming years, concerns have been mounting globally over the longevity of the oil and gas industry due to the push towards renewables. However, the expectations are...
The discovery of billions of barrels of oil equivalent resources has catapulted Guyana to the top of the list of places to invest in the Latin America and Caribbean region and the now almost 3-month old government has been...
