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Tullow stock sinks on quality concern over Guyana crude

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(Bloomberg) - Tullow Oil stock fell the most in two decades in London trading after saying it’s reassessing the commercial viability of discoveries in Guyana. The stock sank as much as 23% on the news that crude from two wells...
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Gas could be piped to shore by 2023 to power Guyana’s domestic needs

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Associated gas deposits which have been found with the significant oil discoveries made offshore Guyana could be piped to shore as early as 2023 to help generate electricity to fulfil the South American country’s domestic needs. While the priority, as...
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Civil society bodies willing to support interim oversight O&G mechanism

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Policy Forum Guyana is among a group of civil society bodies calling for the establishment of an interim monitoring mechanism for the oil and gas sector in light of the recently announced plans for early production and as a...
Exploration

After peaking in 2020 offshore oil will face slowdown

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(Bloomberg) Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slowdown that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico...
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All eyes on multi-billion-barrel Atlantic Margin play

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Geologists and experts in the oil and gas industry have long been intrigued with similarities between the MSGBC Basin - Mauritania, Senegal, The Gambia, Guinea Bissau and Guinea Conakry, off the coast of West Africa and that of the...
Exploration

Bolivia crisis hits Shell, Total and Repsol

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(Bloomberg) -- Natural gas exploration by global oil companies in Bolivia, key to growing the country’s sagging economy, has stopped amid an escalating political crisis that has left the Andean nation rudderless. Royal Dutch Shell Plc, Total SA and Repsol...
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Aker BP plans early startup at Norway’s Aerfugl gas field

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(Reuters) - Oil and gas firm Aker BP will accelerate the startup of production from Norway’s Aerfugl natural gas field, the company said on Monday. In a surprise move, the company now plans to start Aerfugl production in the first...
Exploration

Iran says oil field found with more than 50 billion barrels

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(Associated Press) Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it...
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No new oil blocks to be awarded in Guyana at least for another year

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South America’s newest oil and gas hotspot, Guyana, may not award any new oil blocks for at least another year as the country’s Department of Energy (DE) moves to put a number of measures in place which includes enhancement...
News

Oil industry needs to provide climate campaigners with hard economic facts – S&P Global

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Oil production is driven by demand – in large part from people and economies in the developing world. US-based S&P Global said in an October 31 report that instead of running away when confronted by climate change activists, it...
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ExxonMobil’s Longtail project to operate for 30 years, producing premium condensate and gas

ExxonMobil’s next development offshore Guyana, the Longtail project, is being designed to operate for three decades, making it the...

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