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Tullow Oil hires Worley Parsons, Wood for Kenya contract

Tullow Oil has awarded an engineering design contract for oil production in its northern Kenyan blocs to Australia’s Worley Parsons, a Kenyan petroleum ministry official told Reuters on May 29. Kenya this month moved a step closer to full production...

Offshore oil discovery in Suriname is almost a certainty – Staatsolie boss

As the search for oil intensifies off the coast of Dutch-speaking Suriname, Managing Director and CEO of state oil company Staatsolie Maatschappij Suriname N.V., Rudolf Elias, is confident that a discovery will eventually be made. “It's not a question of...

Low-cost power could entice large manufacturers back on grid

As discussions continue in Guyana on the prospect of piping liquefied natural gas to shore, a public official with oversight of the electricity sector believes the availability of low-cost power will serve to entice a number of large manufacturers...

Return to $100 oil is ‘far from unlikely,’ Norway minister says

(Bloomberg) Two years ago, western Europe’s biggest oil producing nation said no one should count on $100 crude coming back. Now Norway’s changed its tune. “It’s far from unlikely that we will see $100 again,” Petroleum and Energy Minister Terje Soviknes said...

Guyana oil production will exceed 600,000 bpd over next decade raking in billions per year in profit – Norway-based analyst

Rystad Energy - an independent research and business intelligence company based in Norway - predicts that oil production in Guyana will exceed 600,000 barrels per day over the next decade, raking in billions of dollars in profit per year...

Local content expert says policy must capture capabilities of Guyanese workforce

Rene Roger Tissot, an energy and development economist specializing in local content policies and strategies says Guyana should have a plan in place to develop the capabilities of its people before commercial oil production comes on stream. One way...

Guyana discoveries help give China foothold in region but big spending remains tempered

China National Offshore Oil Corporation (CNOOC) is a minority partner in ExxonMobil's major oil discoveries in Guyana and the company has nabbed licenses in Mexico's deep waters, giving China a foothold in the region's two most exciting frontiers. While...

TOTALTEC graduates urged to be uncompromising with safety

TOTALTEC Oilfield Services Guyana Inc. on Monday held a graduation ceremony for its first batch of oilfield operators who are now equipped with world class capacity to work in the oil and gas industry. The TOTALTEC Academy Oilfield Safety &...

CNBC: Oil prices could soon ‘spike’ toward $100

OPEC kingpin Saudi Arabia is determined to keep oil prices trading around current levels, one strategist told CNBC on Monday, but a total shutdown in Venezuelan production could soon prompt crude futures to skyrocket toward $100 a barrel. Prices in the oil market have been...

Oil prices fall as supply from top 3 producers set to rise

(Reuters) - Oil prices dropped on Monday on signs that output from the three top crude producers, Russia, the United States and Saudi Arabia, would climb to meet concerns about supply amid strong demand. Brent crude futures were at $76.02...

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Guyana oil production hits half-billion-barrel mark

ExxonMobil Guyana announced on November 13, a milestone of 500 million barrels of accumulated crude oil production. The output...