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Once int’l contracts have been engaged in there is no question of removal, renegotiation – Granger

OilNOW -
Guyana’s President David Granger says gov’t will continue seeking the best advice for future negotiations of oil contracts while pointing out that once international agreements are entered, there is “no question” of renegotiation. Explaining that arrangements with ExxonMobil will be...
News

Tanker collision at PDVSA can trigger force majeure

OilNOW -
A tanker collision at Venezuela’s state-owned PDVSA’s main terminal, or Jose dock, could result in a drop in that country’s crude exports by a third in September possibly leading to a force majeure declaration, news outlets report. Several million...
News

BP, Shell and Total confirmed for Brazil’s 5th bid round

OilNOW -
BP, Shell and Total have been given the green light to bid in Brazil’s 5th production sharing round set to take place on September 28. The South American country’s oil regulator ANP said on Wednesday, August 29, that in all,...
Exploration

ExxonMobil strikes oil again in 9th discovery off Guyana coast

OilNOW -
ExxonMobil (NYSE:XOM) has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters)...
News

Guyana must walk tightrope to develop oil resources, demand more from future contracts – Brookings Institution

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Guyana will face significant challenges in using the oil and gas industry to bring about development without the “resource curse,” where petroleum revenues generate concentrated wealth and harm the competitiveness of other industries within the country. A July 2018 report...
News

Refinery closure could trigger ripple effect on Trinidad economy – Ramnarine

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Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says the communities in direct proximity to Petrotrin’s Pointe-a-Pierre refinery stand to lose the most with the shutting down of the facility which will have a...
News

Harvey Gulf expanding to Mexico, Trinidad and Guyana

OilNOW -
Harvey Gulf International Marine, a U.S. Gulf of Mexico focused offshore support vessel owner is expanding its scope and targeting new markets in Mexico, Guyana, and Trinidad, Offshore Energy said in an August 29 report. The company on Wednesday said...
News

Mexico gov’t may be looking to halt open bidding for oil blocks – Reuters

OilNOW -
The incoming government of Mexico may be considering suspending auctions for oil and gas projects in favour of direct negotiations Reuters reported on Wednesday. Mexico’s state-owned petroleum company Pemex could be given the authority to pick its own joint-venture partners...
News

Rigzone: Report envisions 30,000 new offshore Brazil jobs

OilNOW -
Wood Mackenzie contends that Brazil's mature Campos basin oil fields could produce an extra 230,000 boepd with the right investment, reports Rigzone. Spending $8 billion to redevelop the mature oil fields in Brazil’s Campos basin rather than incurring that amount in decommissioning...
News

Amendments to Companies Act needed to ensure those benefiting from O&G are ‘local’ – GCCI President

OilNOW -
Amendments may have to be made to sections of Guyana’s Companies Act to ensure that businesses registered to operate in the South American country have put adequate measures in place to be considered ‘local’, and in so doing, benefit...
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Latest News

NewsKemol King -

U.S. EXIM Bank President says US$526M loan to Guyana is ‘first of many deals to come’

A US$526 million loan to Guyana for its Gas-to-Energy project is the first of many deals to come, an...

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