News

With only 19 discoveries to date, geological experts at Wood Mackenzie posit that the Guyana basin stands as the most exciting exploration hotspot, with ExxonMobil leading the way in showcasing the basin’s outstanding prospectivity. In one of its special reports...

Fresh off the historical twin oil discoveries at Block 58, Suriname state oil company Staatsolie says the oil strikes mark a change for both the company and country and it has been preparing for this for years, partly through...

Venezuela's poverty rate surged in 2019 to levels unmatched elsewhere in Latin America as the once-prosperous oil producing nation's hyperinflationary economic collapse continued for a sixth-straight year, according to a new study. The 2019-20 National Survey of Living Conditions (ENCOVI),...

(Bloomberg) --North Sea nations and oil companies face costs of more than $100 billion to shut down old wells in the depleted region. Researchers in Norway believe they can cut that figure dramatically. A new technology center in Trondheim hopes...

(Reuters) - Iran is determined to develop its oil industry in spite of U.S. sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday. “We will not surrender under any circumstances ... We...

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...