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Exxon’s expertise, stability will keep Stabroek operations moving – analysts

OilNOW -
Over 175 International Oil Companies, National Oil Companies and independents are cutting CAPEX and OPEX in tune with low oil prices and have slashed CAPEX guidance for 2020 to around US$122 billion as of May 13. This includes US...
News

Guyana energy department beefing up human resource capacity

OilNOW -
Guyana’s Department of Energy (DE) is looking to engage the services of several specialists as it continues to build capacity and acquire the expertise needed to effectively manage the country’s emerging oil and gas industry. DE Director Dr. Mark Bynoe...
News

Dutch floater specialist looks ahead to larger projects with its state-of-the-art programme

OilNOW -
Dutch floater specialist SBM Offshore, while currently dealing with the challenges brought on by the COVID-19 pandemic and low oil price environment, is looking ahead to large capacity offshore developments where its state-of-the-art Fast4Ward® programme will be playing a...
News

Ongoing elections process in Guyana slowing down project approvals – ExxonMobil CEO

OilNOW -
A now two-month long delay in the completion of a presidential election in the South American country of Guyana is slowing down the project approvals for ExxonMobil’s third development at the 6.6 million acres Stabroek Block where the company...
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Guyana receives almost US$5 million in first royalty payments

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The first payments of royalty due to Guyana from oil produced for the months of January, February and March have been deposited into the country’s Natural Resources Fund (NRF) account held at the Federal Reserve Bank of New York. On...
News

US oil price under pressure as Guyana and T&T keep close watch on Brent futures

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While the sale of crude from the Liza Field in Guyana and in neighbouring Trinidad and Tobago (T&T) has not shared the same fate as US oil, former Energy Minister of Trinidad and Tobago, Kevin Ramnarine, says the Caribbean...
News

Guyana among handful of countries where oil production is expected to grow in 2020 – OPEC

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Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline in prices and challenging market conditions being fueled by the COVID-19 pandemic. Non-OPEC liquids production growth...
News

Guyana oil production in best position to weather global price storm

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As disruptions in the global oil and gas industry intensify as a result of oil price shocks and the COVID-19 pandemic, companies have been forced to slow down or stop operations altogether. While the co-venturers at Guyana’s Stabroek Block...
Exploration

Political turmoil, price uncertainty will delay FIDs in Guyana for months – Rystad Energy

OilNOW -
Political turmoil in South America’s newest oil producing nation Guyana, coupled with falling oil prices and the COVID-19 pandemic will delay Final Investment Decisions (FIDs) for offshore projects by several months, according to Norway-based energy research and business intelligence...
News

Worst oil demand contraction ever recorded in the making

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With billions of people worldwide under some form of lockdown, oil demand may fall as much as 20 million b/d at some stage this year, the International Energy Agency's Executive Director, Fatih Birol, said last week. The massive collapse in...
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Guyanese soldiers repeatedly attacked by armed men on Venezuelan shore during river patrols on Wednesday

The Guyana Defense Force (GDF) said on Thursday that its troops came under attack by armed men in civilian...

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