News

Kosmos comes up dry again offshore Suriname

Kosmos Energy said on Wednesday it was abandoning the Pontoenoe-1 well offshore Suriname after failing to find oil. This is the second dry well in a row drilled by the company in the Dutch-speaking South American country. The company came...

Guyana poised to be world’s largest oil producing country per person in 2020s

Ahead of Kuwait, Saudi Arabia, Brunei and Norway, the South American nation of Guyana, with a projected output of 700,000 barrels per day among just 770,000 people, is set to be the world’s largest oil producing country per person...

IEA urges OPEC to open the taps as oil market enters ‘red zone’

(Bloomberg) The International Energy Agency made a direct appeal to OPEC and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are...

ADNOC, Baker Hughes in strategic partnership

Abu Dhabi National Oil Company (ADNOC) and Baker Hughes, a GE company (BHGE:NYSE) on Monday, October 8, signed a strategic partnership agreement, that will enable and support the growth and development of ADNOC’s subsidiary, ADNOC Drilling, into a fully-integrated...

New Zealand gov’t introduces bill to halt new offshore oil exploration

(Xinhua) -- The New Zealand government has introduced a bill to give effect to its decision to halt the offering of new offshore oil and gas exploration permits, and has kept its commitment to protect existing permits. Prime Minister Jacinda...

‘Honest leadership’ needed if oil money is to transform villages – PM Nagamootoo

Guyana’s Prime Minister, Moses Nagamootoo told a gathering of party supporters and candidates for the upcoming Local Government Elections in the South American country that responsible and honest leadership is needed at the local level to spend coming oil...

China slams brakes on U.S. crude oil imports

(Bloomberg) Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances. The world’s second largest economy halted purchases of U.S. crude in August for the first time since September 2016, according to U.S. Census Bureau...

Exxon local content centre produces first Guyanese ISO certified company

Guysons Oil and Gas Services has set the pace for potential suppliers in Guyana’s petroleum sector by becoming the first local company in the emerging industry to meet the requirements for International Organization for Standardization (ISO) ISO 9001:2015. The announcement...

‘Regulatory certainty’ key to O&G investments – ASEA Executive

Mexico has installed perhaps the most comprehensive and complex energy rule changes in any nation, at any time, lifting strict state control over the oil and gas and electricity sectors, hoping for much more foreign investment. And, it is for...

ExxonMobil eyes multi-billion dollar investment at Singapore refinery

(Reuters) - Exxon Mobil Corp (XOM.N) is considering a multi-billion dollar investment at its Singapore refinery, the company’s largest, ahead of new global shipping fuel regulations starting in 2020, a senior executive said on Wednesday. “We are currently assessing a...

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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...