News

South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...

Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna...

The South American country of Guyana, buoyed by consistent exploration success, is expected to remain in a good position to drive future hydrocarbon production while continuing to attract foreign investments. Exploration activity in Guyana has been concentrated in the Stabroek...

(Reuters) - Investors cheered Spanish group Repsol’s pledge to slash net carbon emissions to zero by mid-century, saying they hope it will pile pressure on rival oil and gas companies to follow suit in the fight against climate change. The...

Shares of Apache Corp. plunged on Monday, closing at the lowest price seen in 18 years, after the oil and natural gas producer provided a disappointing update of its first exploratory well in Block 58 offshore Suriname. MarketWatch said on...

Uttam Energy Limited (UEL), based in Pune, Maharashtra, India is seeking a joint venture with companies in the civil construction industry in Guyana. The company says it offers “the highest quality, most technologically advanced, and the most reliable solutions” in...

ExxonMobil Guyana partnered with the Volunteer Youth Corps (VYC) Inc. on Saturday to stage the 7th STEM Conference held at the Ramada Hotel in the country’s capital, Georgetown. The company said this latest collaboration with VYC is part of its...

(Reuters) - Indonesia is considering letting energy companies stick with the “cost recovery” system for oil and gas production sharing contracts, the energy minister said on Monday, after the government decided to adopt a new scheme in 2017. In 2017,...

Apache Corporation (NYSE, Nasdaq: APA) said Monday upon reaching a depth of approximately 6,200 meters at the Maka Central - 1 well offshore Suriname at Block 58, the company elected to conduct various testing activities in two distinct Upper Cretaceous...

Guyana’s Minister of Natural Resources Raphael Trotman says the South American country is set to receive billions of dollars in oil revenue and one of the most important discussions that should be taking place is how that windfall will...