News

US oil major ExxonMobil is ramping up its search for more oil off the Guyana coast with the spudding of the Pluma prospect approximately 17 miles (27 kilometers) from Turbot in the South portion of the 6.6 million acres...

(Oxford Business Group) Presented on October 1 by Colm Imbert, Trinidad and Tobago’s Minister of Finance, the 2019 budget forecasts GDP to increase by 1.9 percent this year before rising to 2.1 percent by 2021, reversing a trend that...

Exxon Mobil Corporation on Friday announced estimated third quarter 2018 earnings of $6.2 billion, or $1.46 per share assuming dilution, compared with $4 billion a year earlier. Cash flow from operations and asset sales was $12.6 billion, including proceeds associated with...

Guyana’s Finance Minister, Winston Jordan, says the revenue to be earned from the first phase of oil production in the South American country – around US$300M annually – will go directly into the Natural Resources Fund and will eventually...

Tourism Stakeholders in Guyana believe that revenues from oil production could potentially advance the tourism sector, making the South American country one of the most talked about destinations in the world. This was the highlight of a Tourism, Oil and...

The Hammerhead-1 well, where approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir was encountered by the Stena Carron drillship in August offshore Guyana is the ‘thickest single sand package’ drilled on the Stabroek Block, according to President...

The Stena Carron drillship which has been exploring for oil in the Stabroek Block offshore Guyana is scheduled to depart for Spain for drydocking. Speaking on a 3rd quarter earnings call on Wednesday, Gregory P. Hill, President and Chief Operating...

Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new...

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...