News

(Bloomberg) -- Oil traded near $50/bbl in New York, close to a three-month high, as a further reduction in U.S. drilling added to signs the global crude surplus is abating. WTI futures slipped 0.5% after advancing 5.1% last week. Rigs...

Guyanese Attorney-at-Law and Chartered Accountant, Christopher Ram, says the suggestion that all of the blocks for petroleum exploration and production were given out prior to 2015 is dangerously wrong, since the available information contradicts this. Speaking at a public forum on Friday...

TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation contract from Hurricane Energy PLC. The contract covers the provision of subsea equipment including umbilicals, risers, flowlines and the subsea production system for the Lancaster Early Production System (EPS) Project....

(Bloomberg) Cnooc Ltd. is searching for partners to develop oil prospects deep into the Gulf of Mexico as the Chinese giant extends its global reach. After bidding alone for exploration rights in Mexico’s first-ever deep-water auction in 2016, Cnooc is seeking...

Representatives from a group of 25 Canadian organizations on a trade mission to Guyana held a session at the Umana Yana on Wednesday evening, in the country’s capital, Georgetown. Treasurer of the Newfoundland and Labrador Oil and Gas Industries...

Around 70 percent of ExxonMobil’s direct workforce in Guyana is derived from local content, while the entire exploration and production operation consist of 40 to 50 percent Guyanese. This is equivalent to approximately 40 Guyanese being directly employed by the...

Guyana is set to host a major petroleum summit before the year ends, which organizers say will open strategic dialogue and place the South American country as a favorable and pro-business destination. The inaugural Guyana International Petroleum Business Summit &...

Royal Dutch Shell and Petrobras last week signed  in The Hague, Netherlands, a Memorandum of Understanding (MoU) to establish a long-term mutual collaboration in developing pre-salt fields in Brazil. Shell will benefit from technical solutions, contract management expertise and cost...

As stakeholder engagements on Guyana’s draft Local Content Policy Framework continue around the South American country, members of the Chambers of Commerce of Berbice got an opportunity to voice their concerns to author of the document, Trinidadian consultant Anthony...

Paradigm will present the latest innovations in its extensive suite of geological and geophysical software solutions in at the SEG International Exposition and 87th Annual Meeting in Houston, to be held September 24-29.  Demonstrations will feature integrated workflows for seismic processing and imaging, interpretation,...