Oil production at Guyana’s first ever offshore development – Liza Phase 1 - is ramping up with daily output now around 75,000 barrels per day.
“Liza Phase 1 production continues to ramp up. Current gross production is approximately 75,000 barrels...
Australian based petroleum company BHP said on Thursday it has made one discovery while encountering a dry hole in exploration activities offshore the Caribbean twin island nation of Trinidad and Tobago.
The company drilled two additional exploration wells at its...
The Guyana government will be selling its own share of crude when production starts at the Liza Phase 1 Development project, just months away, and a tender for this will be put out before the end of the year....
UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...
To survive in the lower oil price environment of the past five years, E&Ps and service companies alike have sharpened their pencils and delivered significant cost reductions for the offshore industry. Rystad Energy says the resulting cost savings is...
The sheer magnitude of Guyana’s oil producing potential has been recognised by many international publications and industry experts. With ExxonMobil Guyana expecting to produce over 750,000 barrels of oil per day by 2025, Guyana will soon become one of...
Deepwater and tight oil are two of the great growth themes in the oil and gas industry, but are often considered to be at opposite ends of the development spectrum. Deepwater represents large, expensive and complex long-cycle projects best suited...
(Reuters) - Oil prices fell on Tuesday on signs that an economic slowdown in China, the world’s second-largest economy and oil consumer, was spreading, stoking concerns over future fuel demand.
The gloomy economic news has pulled down financial markets across...
(Reuters) - Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters...
(Energy Voice) Shell has started production from the world’s largest floating liquefied natural gas (FLNG) facility.
The energy giant said wells have been opened at the Prelude FLNG platform, around 295miles north-north east off the coast of Broome, Western Australia.
It...
