News

Ramnarine urges speedy establishment of Petroleum Commission

Trinidad and Tobago’s former Minister of Energy and Energy Affairs, Kevin Ramnarine, believes that the process for establishing the Petroleum Commission in Guyana should be hastened. He said the work of a Joint Select Committee in Guyana’s Parliament which is...

Tullow fails to strike oil at Araku prospect in Suriname

The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 metres and penetrated the objectives of the Araku prospect. No significant reservoir quality rocks were encountered although logging and sampling proved the presence of...

Brazil judge suspends pre-salt oil auctions set for Friday

(Reuters) - A federal judge in the Brazilian state of Amazonas issued an injunction on Thursday ordering the suspension of the billion-dollar auctions of pre-salt oil and gas rights scheduled for Friday. The injunction was sought by the leftist Workers...

TechnipFMC projects slow deepwater recovery in 2018

(Chron) The world's largest offshore services company, TechnipFMC, reported that its revenues grew from the previous quarter, but the deepwater sector remains mired in a downturn. CEO Doug Pferdehirt said he sees the early signs of a recovery continuing into 2018...

ExxonMobil to resume exploration off Brazil

US supermajor ExxonMobil is set to resume exploration activity off Brazil in the first half of 2018 after a nearly eight-year hiatus. The company will be shooting 3D seismic covering two ultra-deepwater blocks it recently farmed into in the...

Liza 1 discovery was intentionally “downplayed” in lead-up to Guyana elections – former minister

The biggest offshore oil discovery in 2015 and the first of its kind in the South American country of Guyana was intentionally downplayed in the weeks leading up to the country’s May 11, 2015 national elections. While the magnitude of...

Guyana, Suriname follow-up discussions on oil & gas set for November

Following a meeting in Suriname on October 19 between Guyana’s Minister of Natural Resources Raphael Trotman and his counterpart in Suriname, Dr. Regilio J. Dodson, it was decided that a meeting will be held in Guyana in November at...

US to offer 77 million acres for oil & gas exploration in Gulf of Mexico

(Energy Business Review) The US Interior Department (DOI) has announced plans to offer 76.9 million acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida in lease sale for oil and gas exploration...

Guyana, Suriname mulling joint industrial venture for oil & gas

Guyana’s Minister of Natural Resources, Raphael Trotman, has described his recent participation in the annual meeting of the New Petroleum Producers Discussion Group in Suriname as fruitful. The New Petroleum Producers Discussion Group is an initiative of London-based Chatham House,...

Linden, Berbice businesses not fully aware of O&G preparations – GCCI President

The Georgetown Chamber of Commerce and Industry’s (GCCI) three-day public lecture series on “Oil & Gas Sector Development and the draft Petroleum Commission Bill” began on Monday in the mining town of Linden, Region 10, then took place at Corentyne,...

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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...