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Global exploration poised for upswing as operators flock to licensing rounds

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The past year showed a significant increase in licensing activity with a large number of lease rounds announced and the number of awarded licensing rounds rising for the third year in a row. The Mediterranean region was the hotspot,...
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Extreme cold in Western Canada disrupts oil production, refining

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(Reuters) - Canadian oil producers and refiners have cut processing rates this week as extreme cold weather grips Western Canada, traders familiar with the matter said on Friday. Cold weather has spread across western Canada this week. In Edmonton, the...
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Tanker to soon lift first one million barrels of oil from Stabroek Block

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The Yannis P – a Marshall Islands registered crude oil tanker will soon lift the first one million barrels of crude from the Stabroek Block offshore Guyana. Production in Guyana commenced on December 20, 2019, less than five years after...
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Tullow Oil not likely to drill any Guyana wells this year

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UK-based Tullow Oil, reeling from disappointing results from its offshore campaigns in the South American country of Guyana, may not drill anymore wells there this year. The company said exploration write-offs of approximately $1.5 billion dollars include the Jethro, Joe...
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Dozens gather in Georgetown for first glimpse of ‘light sweet’ Liza Crude

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Guyanese onshore will now have an opportunity to see first-hand a sample of the black gold being produced 120 miles off of its coast that is set to change the course of the South American country’s history. The Department of...
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“Don’t spend money you don’t have’ warns oil expert

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Guyana, now poised to be the biggest per capita oil producer in the world in coming years, has a unique opportunity having now entered the oil and gas industry, to learn from the multitude of mistakes made by other...
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OPEC names Guyana in ‘growing supply threat from rivals’ forecast

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The Organization of Petroleum Exporting Countries (OPEC) in its latest forecast points to a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices. In...
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Brazil’s Petrobras closes $1.5 billion deal to sell stake in African joint venture

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(Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA said on Tuesday it had ended its activities in Africa after closing the sale of a 50% stake in Petrobras Oil & Gas BV (PO&GBV), which holds some Nigerian oil...
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First sample of Liza crude tested by Guyanese technician

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The first drop of oil to be taken from the Liza field was received and tested by a young Guyanese technician on board the country’s first floating oil production complex spread moored at the 6.6 million acres Stabroek Block. For...
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Suriname refinery to shut down for 40 days

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Suriname state oil company Staatsolie Maatschappij will undertake a major maintenance operation at its Tout Lui Faut Refinery, located 20km south of Paramaribo in February that will see the facility shutting down for 40 days. All production units with their...
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Energy Chamber urges gas independence amid Venezuela’s suspension of energy deals

The Energy Chamber of Trinidad and Tobago is urging the government to accelerate efforts to boost domestic gas production...

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