News

CGX Energy Inc. announced on Wednesday that it has entered into an agreement with Japan Drilling Co., Ltd. along with its subsidiary CGX Resources Inc., to settle all liabilities claimed by JDC from the Company arising from a drilling...

ExxonMobil Guyana Liza Tier 1 contractor TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. This EPC contract covers the debottlenecking...

Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2...

In less that 24 months Guyana, located on the northern shoulder of South America, will begin producing oil from its vast offshore reserves discovered by US oil major ExxonMobil. The opportunity that oil wealth presents is clear, says the...

Cataleya Energy Limited has funded a project in a remote village in the South American country of Guyana to tackle drought and create economic opportunities for residents in the Central Rupununi community. The US$1.25 million reservoir has the capacity to...

Brazil’s oil and gas industry is expected to continue seeing reforms boosting both investments and production, as President-elect Jair Bolsonaro puts an end to 16 years of labor party rule. The so-called far-right candidate won Sunday’s second round of voting...

The Grenada government says two foreign companies have teamed up to continue the exploration of the island’s maritime space. In a October 29 report, the Antigua Observer quoted Grenada Energy Minister Gregory Bowen as saying that the Russian owned Global...

Suriname hopes to sign a letter of intent with Guyana in December in which areas of cooperation for oil and gas would be clearly defined. Surinamese Minister of Natural Resources, Regilio Dodson says the the Memorandum of Understanding is likely to...

BP Plc shares rose to the top of the FTSE 100 Tuesday after the U.K. oil major posted its strongest quarterly profit in five years following the "transformational" acquisition of BHP Biliton's BHP U.S. shale assets earlier this year. BP said underlying...

(Bloomberg) When it comes to the future of its oil industry, Nigeria is looking miles out to sea. By early next year, the largest offshore production vessel ever delivered to Nigeria will start pumping crude from a deposit deep beneath...