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Mega petroleum summit opens today in Guyana

All roads will lead to the Guyana Marriott Hotel today as the country gets ready to host the inaugural Guyana International Petroleum Exhibition and Summit – GIPEX 2018. With six significant discoveries made in the offshore Stabroek block in just...

Voices of reason, hope need to speak up on O&G

Is the public discourse on Guyana’s emerging Oil and Gas (O&G) sector becoming more informed and objective? It’s a question all involved stakeholders  (government, political opposition, civil society, oil companies, contractors, media, observers, etc.) should ask. If the answer...

All systems in place for GIPEX 2018

Preparations were in high gear over the weekend at the Guyana Marriott Hotel for the staging of the South American country’s first official oil & gas summit and exhibition set to get underway on Wednesday. Workers were busy setting up...

GIPEX Platinum sponsor ready to deliver on ‘every need of O&G sector’

Guyana International Petroleum Exhibition and Summit (GIPEX) 2018 Platinum Sponsor GTT, a telecommunications service provider in Guyana, says it is ready to deliver on “the every need of the oil and gas sector” in the South American country and...

China’s CNOOC plans to ramp up spending by at least 40 percent in 2018

Chinese offshore oil and gas company CNOOC Ltd said on Thursday it planned to ramp up spending by at least 40 percent in 2018, as well as raise production, thanks to a more “suitable” oil price, Reuters reports. CNOOC Nexen...

Ranger-1 gives ExxonMobil new insight into Stabroek Block potential

ExxonMobil’s recent oil discovery at the Ranger-1 reservoir offshore Guyana is particularly significant because it demonstrates that potentially significant commercial quantities of crude is contained in a different type of play on the Stabroek Block. The estimated total 3.2 billion...

Guyana could be producing over 10 million barrels of oil monthly by 2022

Monthly oil production in the South American country of Guyana could top the 10 million barrel mark by 2022 with the coming on stream of a second phase of development in the prolific Liza field located approximately 120 miles...

Chevron, SBM and Schlumberger among big name companies onboard for GIPEX 2018

Several more big name companies in the oil and gas industry have signaled their intent to be part of a major petroleum summit taking place in Guyana next month. The South American country now regarded as the next oil...

Upstream expenditures expected to grow in 2018 to US$400 billion – WoodMac

(Offshore Engineer) Believing that major spending cuts are over, Wood Mackenzie expects global upstream capital expenditures to grow slightly in 2018 to a total of US$400 billion. The downturn resulted in nearly $1 trillion being taken out of company spending...

Shell is closing in on Exxon’s crown

(Bloomberg) Even in the dynamic world of business, some things always hold true: the Big Mac outsells the Whopper, Google gets more searches than Bing, and Exxon Mobil Corp. is the world’s biggest public oil company. Or perhaps not. Royal Dutch Shell...

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Guyana’s energy boom could fuel AI revolution, says industry expert

Guyana’s economic growth and expanding energy sector present a major opportunity to embrace artificial intelligence (AI) and data mining....