News

(Bloomberg) –Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the...

British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to strengthen its agriculture industry making it once again the breadbasket of the Caribbean, and perhaps even...

As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic is increasingly apparent in several countries – most notably in the United States. Modelling the...

At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which nine Nigerian nationals were kidnapped. The company said the incident onboard the FPSO has ended and...

(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia faithfully delivered the...

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...

(Reuters) - Exxon Mobil Corp’s oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post another quarterly loss...

SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba, to be deployed in the Santos Basin offshore Brazil. The facility was secured by the special purpose company...

The Georgetown Chamber of Commerce and Industry (GCCI) on Thursday bid farewell to President of ExxonMobil Guyana, Rod Henson, who will be leaving to take up a new post in Houston soon. GCCI members joined the event virtually at which...

Hundreds of Guyanese businesses are benefitting from a wide range of online training courses being offered by the Centre for Local Business Development (CLBD) as COVID-19 restrictions continue to prevent indoor sessions from being conducted. Since its establishment in 2017,...