News

The continuation of exploration and production activities offshore Guyana means that the South American country has not seen a backtracking of spending by ExxonMobil as has been the case with other oil majors in various parts of the world. This...

Trinidad and Tobago’s Ministry of Energy and Energy Industries on August 11 reported that the Country’s natural gas production plummeted in June to its lowest level since 2016 averaging a mere 3.110 billion standard cubic feet per day (Bscf/D). The...

The United States Justice Department on Friday announced the seizure of three websites used by what it described as “‘three front companies” - Mobin International, Sohar Fuel, and Oman Fuel, that arranged a multimillion dollar fuel shipment by the...

Newly elected Speaker of Guyana’s National Assembly, Manzoor Nadir, has underscored the importance of an effective Parliament to Guyana’s oil and gas sector. Nadir, who was elected and sworn-in during the first sitting of Guyana’s 12th Parliament on Tuesday, September...

China's Shanghai Waigaoqiao Shipbuilding (SWS) shipyard has delivered the Prosperity FPSO hull, the second floater to be built under SBM Offshore's Fast4Ward® program for the ExxonMobil-operated Stabroek Block, offshore Guyana. The Prosperity will have a 220,000 barrels per day capacity,...

(Business Insider) Goldman Sachs expects the oil market to gain momentum in 2021 as the coronavirus-induced slump in demand is mitigated by the "rising likelihood of widely available vaccines" next spring. Analysts at the bank forecast international benchmark Brent will...

(Bloomberg) --A former Venezuelan oil official fled the country and is talking to U.S. authorities about aiding their investigation of a high-level corruption scheme that helped plunge the oil-rich nation into an economic meltdown. Carmelo Urdaneta Aqui, a onetime legal...

The COVID-19 pandemic is adding severe financial strain on a North American upstream industry that was already reeling under billions of dollars of debt. This comes at a time when prospects on the South American north coast continue to...

Minister of Energy and Energy Affairs of Trinidad and Tobago Franklin Khan says the country’s Maritime Division is not aware of a tilting Venezuelan oil tanker which is purportedly in danger of capsizing near Guiria, a report in the...

Chief Economist of the American Petroleum Institute (API) Dr Dean Foreman will make a presentation to the executive and membership of the Georgetown Chamber of Commerce and Industry (GCCI) on Tuesday September 1, 2020. Dr. Foreman will be presenting...