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ExxonMobil says royalty, terms apply to entire Stabroek block offshore Guyana

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The royalty and terms outlined in the production sharing contract between ExxonMobil and Guyana will apply to the entire area known as the Stabroek block, located 120 miles offshore the South American country. The US supermajor had applied for,...
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Shell reduces stake in Canada oil sands

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Royal Dutch Shell has announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources that will see Shell sell all undeveloped oil sands interests in Canada and reduce its share...
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ExxonMobil acquires deepwater block in Equatorial Guinea

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ExxonMobil said today its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 miles west of Malabo. “We look forward to building...
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Local content expert to work with Guyanese private sector

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Business operators in Guyana eager to get involved in the country’s emerging oil and gas sector will soon benefit from the input of a local content specialist. OilNOW understands the Guyana government is hiring the expert based on the completion...
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BP discovers 2 trillion cubic feet of gas in Trinidad & Tobago

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BP Trinidad & Tobago (bpTT) announced Friday that it has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. The results of these wells have unlocked approximately 2 trillion cubic feet (tcf) of gas...
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Saipem strikes $230M in offshore agreements

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Saipem, the same company that was earlier this year awarded a subsea contract by ExxonMobil for its Liza project offshore Guyana, has recently entered agreements to the value $230M for other offshore drilling activities in the Mediterranean, Black Sea...
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Ramnarine weighs-in on Chevron’s exit, questions value of Shell marketing LNG

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Reports surfaced last week that US energy company, Chevron was winding down its operations in Trinidad and Tobago.  The company has entered an agreement to sell all its shares in Chevron Trinidad and Tobago Resources (CTTR) to Shell’s BG...
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EITI vital for Guyana now that oil production is coming – TT EITI Chair

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Now that Guyana is headed for a windfall with the Liza field production set to begin in 2020, it is more important than ever for the South American nation to become a part of the Extractive Industries Transparency Initiative...
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Russia “ready to live forever” with $40 oil price or lower – Economy Minister

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A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds. “We’re actually ready to live forever with the oil price at $40 or below,”...
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Chevron prepares to exit Trinidad & Tobago

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Chevron has entered into an agreement to sell all of its shares in Chevron Trinidad and Tobago Resources (CTTR) to Shell’s BG, and all of its interest in Trinling, an LNG marketing and transportation company, to Shell’s BG Gas. According...
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Guyana Energy Conference launches essay competition for high schoolers

The Guyana Energy Conference and Supply Chain Expo (GECSCE) has launched its first-ever essay competition, open to Guyanese students...

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