Saturday, July 2, 2022

Production

Oil hovers near $46 as shale revival cancels out OPEC efforts

NEW YORK (Bloomberg) -- Oil hovered around $46/bbl in New York, back to levels last seen before the OPEC deal, as the shale revival appears to be making the group’s cuts ineffective. After dipping below $44 Friday, futures pared some of...

New regulatory body could oversee implementation of Guyana local content policy

A new regulatory body is being proposed by authorities in Guyana to oversee the implementation of a Local Content, Capacity Development and Value Addition Policy Framework.  The draft policy document, developed by the Ministry of Natural Resources, is currently...

ExxonMobil targets mid-year sanction for Liza first phase

“When you think about the full scope of our development in Guyana, and clearly, the higher the resource density, the more profitable it's going to be..." - Jeff Woodbury US supermajor ExxonMobil plans to sanction the first phase of the development...

In excess of 1,340 direct jobs could be created over lifetime of Liza phase 1 project

More than 1,340 direct jobs could be created over the lifetime of the Liza phase 1 development project which will see a proposed 17 wells being drilled, equipment installed and oil production undertaken in the Stabroek Block, 120 miles...

Oil prices drop below $48; first time in over a month

(CNBC) Oil prices sharply extended losses just before Tuesday's settlement, with U.S. crude breaking below $48 a barrel for the first time in more than a month. U.S. West Texas Intermediate futures and international benchmark Brent crude were both down...

T&T oil spill reaches Venezuela; former energy minister chastises Petrotrin

An oil spill which occurred at Trinidad and Tobago’s state oil company Petrotrin on April 23 has now spread to the Venezuelan maritime boundary. The country’s Ministry of Energy says it is tracking the trajectory of the oil spill through...

Consultant advising on oil refinery will arrive in Guyana May 17 to present study

The consultant hired to advise the Guyana government on the economics of a refinery is scheduled to arrive in the South American nation on May 17. A number of players in the industry have been closely watching this development. Trinidad...

Trinidad’s Petrotrin investigating oil spill

Trinidad and Tobago State owned Trinihas established a team to investigate the cause of the oil spill where hundreds of barrels of black crude flowed into the Gulf of Paria from a leak at the Pointe-a-Pierre refinery which occurred...

Oil production will bring many opportunities; Guyanese must equip themselves

After 50 years of independence, one of the major challenges facing Guyana is the transformation of the country’s natural wealth into human development. At the launch of the 2016 Human Development Report (HDR) in which Guyana was ranked in...

Worley Parsons to review ExxonMobil’s development plan

The Government of Guyana has contracted Australian resources and energy consultants Worley Parsons to review ExxonMobil’s initial development plan in preparation for petroleum production from its Stabroek Block come 2020. This review is necessary for determining whether the oil giant...

Latest News

Nothing in the world more exciting to work on than Guyana’s projects – Exxon Upstream President

President of ExxonMobil Upstream Company, Liam Mallon, speaking at an event at State House in Georgetown on Thursday, said...