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ExxonMobil has opened up a new oil province in South America with untold potential

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Decades of failed attempts to find oil in the Guyana-Suriname basin saw companies bailing out and disappointment mounting, with many persons, ranging from laymen to experts, concluding that striking black gold in this frontier was unlikely and way too...
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TT suffered 20,000 job losses in five years; O&G sector employment reduced by 40 percent

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More than 20,000 people in Trinidad and Tobago have lost their jobs since 2015, with more than 5,500 being sent home when the Petrotrin refinery closed down on November 30, 2018 in what has been a slew of job...
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Brent oil prices could slip below $60 in 2020 even in face of Middle East tensions

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Despite heightened tensions in the Gulf region following the US drone attack in Baghdad that killed Iranian General Qassem Soleimani, the resulting surge in oil prices will not be sustained. In fact, analyst expect to see a downward risk...
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Suriname discovery contains 300 million barrels of oil, over 1 trillion cubic feet of gas – WoodMac

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UK-based global energy consultancy group Wood Mackenzie says based on its estimate the discovery announced last week off the coast of Suriname could contain hundreds of millions of barrels of oil and over a trillion cubic feet of gas,...
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Three years after $1 billion Venezuela deal, U.S. oilfield firm shuts doors

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(Reuters) - An Oklahoma oilfield company that played a central role in Venezuela’s high-profile attempt to convince the world it could halt production declines at its dilapidated oilfields has shut its doors, according to three people familiar with the...
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China opens up oil and gas exploration, production for foreign, domestic firms

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(Reuters) - For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to...
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Trinidad must up oil production to reverse economic fortunes says Ramnarine

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Former Minister of Energy and Energy Affairs in Trinidad and Tobago Kevin Ramnarine believes that 2020 will be another year of weak growth in the twin-island republic due to the current over-supply of petroleum worldwide and the strong US...
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North Sea to remain global hotspot in 2020 – WoodMac

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UK-based global energy consultancy group Wood Mackenzie says it will be a noteworthy year for the North Sea – companies will increase production for the first time since 2017 and the outlook for both exploration and investment is looking...
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One dead, five injured after ingesting toxic liquid on Brazil-bound FPSO

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Dutch dredging and heavylift company Boskalis said in a statement on Thursday that an incident occurred earlier this week on board an FPSO which is currently being transported by the Vanguard from China to Brazil. During the journey a contractor, designated by...
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Guyana oil strikes help push global discoveries to 4-year high – Rystad Energy

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The world’s oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. Last year recorded 26 discoveries of more than 100...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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