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Venezuela’s slump, Iran sanctions and oil prices: a potent cocktail brewing?

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Global oil supply will break through the 100 million b/d mark for the first time later this year. Producers the world over, through innovation and risk-taking, have invariably contrived to meet the unstoppable train that is demand growth, says...
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‘Pay more attention to oil price rather than contract’ – urges Guyanese engineer

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The volatility of oil price is a key factor in making projections about revenue, and as such, keen attention should be focused in this area as Guyana moves towards first oil.  In fact, Guyanese scientist and Director at Mid-Atlantic...
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Venezuela election: Maduro expels top US diplomat

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(BBC) Venezuela has expelled the senior US representative in the country amid an international backlash against Nicolás Maduro's re-election as president. Mr. Maduro announced the expulsion of charge d'affaires Todd Robinson as his victory in Sunday's vote was being proclaimed...
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World Bank, Guyana gov’t stage high-level workshop on Sovereign Wealth Fund

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The World Bank and Government of Guyana staged a high-level workshop on Stabilization/Sovereign Wealth Funds on Monday in the South American country’s capital, Georgetown, as part of a number of initiatives being taken to enhance knowledge and understanding of...
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Kosmos encounters ‘stability issues’ at Anapai-1; to re-spud well

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The highly anticipated results from the Anapai-1 well in Block-45 offshore Suriname will be delayed by another 50 to 60 days after the Ensco DS12 drillship encountered shallow bore hole stability issues before reaching the target interval, Kosmos Energy...
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Shell boss urges T&T to “diversify economy rapidly”

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Shell’s country manager for Trinidad and Tobago, Derek Hudson, has said the Caribbean country’s offshore oil and gas exploration and production has “only scratched the surface” but the twin island republic must diversify its economy rapidly. Speaking at the Institute...
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Opponents slam Venezuelan President Nicolas Maduro’s election victory as a sham

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(CNN) Socialist President Nicolas Maduro has won another six years in power in crisis-hit Venezuela, in an election that the political opposition and foreign powers have denounced as a sham. Many eligible voters boycotted Sunday's polling, bringing turnout to a lackluster 46%,...
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Guyana should fast track offshore licensing ahead of any ICJ moratorium

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An official familiar with the Guyana-Venezuela border controversy and the move to the International Court of Justice (ICJ) for a hearing and resolution of the matter believes that all efforts should be made by Guyana to green-light as much...
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No legal basis for challenge to Guyana/ExxonMobil PSA – Natural Resources Minister

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Guyana has no legal case to challenge the Production Sharing Agreement (PSA) between its Government and ExxonMobil affiliate; Esso Exploration and Production Guyana Limited (EEPGL) and partners—CNOOC-Nexen and Hess. This was the view expressed by Guyanese Minister of Natural Resources,...
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Maduro wins presidential vote election board says

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(Reuters) Venezuela's leftist leader Nicolas Maduro won a new six-year term on Sunday, but his main rivals disavowed the election alleging massive irregularities in a process critics decried as a farce propping up a dictatorship. Victory for the 55-year-old former...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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