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Venezuela as party to Geneva Agreement accepted jurisdiction of ICJ

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The position of the Nicolás Maduro administration that Venezuela does not recognize the International Court of Justice’s (ICJ) jurisdiction over its border controversy with Guyana is in contravention with the Bolivarian Republic’s consent to the Geneva Agreement. Guyana, in its Application...
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Wood Mack expects around 30 major projects to reach FID in 2018

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Industry analyst Wood Mackenzie says a significant recovery in upstream Final Investment Decisions (FID) was evident in 2017 with the number of project sanctions more than doubling from 2016. The unit says it expects a similar story in 2018...
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Deodat Indar reelected to 2nd term as GCCI president; promises renewed push for Guyanese businesses in O&G

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Deodat Indar was on Thursday reelected to serve a second term as President of the Georgetown Chamber of Commerce and Industry (GCCI). The business group held its 128th Annual General Meeting at the Roraima Duke Lodge in Guyana’s capital Georgetown on...
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BHP Billiton could begin hunt for petroleum in Barbados by next year

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Australia based BHP Billiton could begin its hunt for petroleum in the Caribbean territory of Barbados as early as 2019. The island’s Minister with responsibility for Energy, Senator Darcy Boyce, speaking at a symposium in Trinidad held in March,...
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Oil & gas projects set to break even at $44 per barrel in 2018

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New oil and gas projects to be sanctioned this year will likely have a 15-percent lower breakeven level than last year’s, at US$44 per barrel of oil equivalent, Wood Mackenzie analysts said in a fresh report on short-term developments in the...
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Volume of gas, cost of bringing it to shore would determine economic feasibility

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Without a comprehensive study being conducted to determine what the cost would be to bring natural gas to shore and the associated land based infrastructure required to facilitate this, any talk about its economic feasibility hinges on speculation. A well-placed...
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ExxonMobil in new Partnership with five-time NBA all-star Anthony Davis

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ExxonMobil and NBA® All-Star Anthony Davis, announced on Tuesday a new partnership. Davis, one of the top players in the NBA, will play a leading role in the Mobil 1TM brand marketing campaign, helping to highlight the latest products and innovations. Davis...
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‘Significant’ discoveries made offshore Norway

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(Rigzone) OMV Norge AS announced Wednesday that it has encountered ‘exploration success’ at well 6506/11-10, located offshore Norway in license PL 644B. The well targeted two formations; the Cretaceous Hades prospect and the Jurassic Iris prospect located directly underneath. OMV...
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‘19 commercial discoveries in 2017’ – CNOOC Limited

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CNOOC Limited, the owner of Nexen which is a 25% joint venture partner in the Stabroek Block offshore Guyana along with ExxonMobil and HESS, recently announced that for 2017 its reserves and profit improved significantly. In announcing its performance for...
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‘Fisheries Exclusion Zone less than 1% of the Stabroek Block’ – ExxonMobil

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ExxonMobil is rejecting the assertion that its Liza Phase 1 operations will negatively impact in a significant manner Guyana’s fishing industry; a view posited by a number of vocal critics of the Government’s deal with the US oil major...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

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