News

In wake of the ongoing storm over the future of Trinidad and Tobago’s Petrotrin, Prime Minister Dr Keith Rowley has announced that the Oilfields Workers Trade Union (OWTU) will be given the first option to buy the beleaguered Pointe-a-Pierre...

(Reuters) - U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. U.S. West Texas Intermediate (WTI) crude futures were at $70.05 per barrel at...

(Rigzone) Following Exxon Mobil Corp.’s latest Hammerhead-1 discovery, the company’s ninth discovery offshore Guyana, it’s believed the country will create the greatest value of any offshore basin since the downturn, according to Maria Cortez, Wood Mackenzie’s Latin American upstream senior...

(Reuters) Shares in SBM Offshore surged on Monday on news the Dutch marine oil platform constructor had settled its remaining suit with Brazilian federal prosecutors, clearing the way for it to resume doing business in one of its most...

Former Guyanese Minister of Natural Resources and the Environment Robert Persaud has shot down a suggestion made over the weekend by Trinidad and Tobago’s Opposition Leader Kamla Persad-Bissessar, saying ‘Guyana is not here to bailout’ the twin-island republic. He...

Eco-Atlantic Oil & Gas said it is encouraged by the latest ExxonMobil oil discovery at Hammerhead-1 in the Stabroek Block offshore Guyana. Hammerhead-1 is said to be located seven kilometres from the boundary with the Orinduik block, where Eco...

In an address to the nation on Sunday night, Trinidad and Tobago’s Prime Minister, Dr Keith Rowley said his government had to proceed with the hard decision of closing the Petrotrin refinery since failing to do so would have...

Former Trinidad and Tobago Prime Minister, Kamla Persad-Bissessar is urging the current government in the twin-island republic to pursue a partnership with neighbouring Guyana to refine its oil in order to avert the closure of the Petrotrin refinery. According to...

Guyana’s President David Granger says gov’t will continue seeking the best advice for future negotiations of oil contracts while pointing out that once international agreements are entered, there is “no question” of renegotiation. Explaining that arrangements with ExxonMobil will be...

A tanker collision at Venezuela’s state-owned PDVSA’s main terminal, or Jose dock, could result in a drop in that country’s crude exports by a third in September possibly leading to a force majeure declaration, news outlets report. Several million...