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Oil hits $80; pipeline operators consolidate

Oil prices hit $80 per barrel for the first time in more than three years on Thursday on concerns Iranian exports could fall, reducing supply in an already tightening market. Among the analysts weighing in, Boston Consulting Group’s Jamie...

8 wells at Liza will produce more oil than Delaware Basin’s 1,400 – Hess

Chief Executive Officer of Hess Corporation, John Hess, says when it comes to low development cost and favorable financial returns Guyana is a much better prospect than the Permian’s Delaware Basin. The CEO was at the time speaking during a...

Petrobras receives new FPSO, takes loan

Brazil’s Petrobras has received its P-67 FPSO from the China Offshore Oil Engineering Company (COOEC), international media reported Wednesday. The vessel will be remodified in Brazil towards the end of the month before being moved to the NOC’s Lula North pre-salt field. P-67 has...

Repsol to end pursuit of oil growth in light of clean energy push

Spanish company Repsol plans to end its pursuit of oil growth amidst a global move to transition to clean energy. This is according to a Bloomberg report published on Tuesday. According to the article, the company is the first of...

PCJ looks to next phase of oil exploration as first 3D seismic survey is completed in Jamaica

(The Gleaner) The Petroleum Corporation of Jamaica (PCJ) is hoping that the post survey data analysis of the first 3D seismic survey of Jamaica's offshore in the exploration for oil and gas will be encouraging enough to move the...

ON Energy PSA: 53% profit oil, 1% royalty for Guyana

The Production Sharing Agreement (PSA) between the Government of Guyana and ON Energy, signed on February 12, 2013, outlines a 53% share of profit oil for the South American country and 1% royalty, payable by the company. Recoverable contract...

Guyana contracts American firm to review ExxonMobil application for giant Liza Phase 2 development

The Environmental Protection Agency (EPA) has hired an American company; Rampal US Corporation to assess and certify an Environmental Impact Assessment (EIA) study for the ExxonMobil Liza phase II development. This was confirmed on Friday by Guyanese Minister of State,...

Kosmos expects results from Anapai this month

Kosmos Energy says it expects results from the Anapai-1 well in Suriname later this month as drill operations continue in Block 45 where the company holds a 50% interest. The company announced its first quarter 2018 results on Monday, reporting...

Exxon’s success off Guyana coast fueled Latin America dominance in 2017

Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...

Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...

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Guyana records US$3 billion trade surplus in Q1 2025, driven by oil exports

Guyana posted a trade surplus of US$3.01 billion in the first quarter of 2025, driven by crude oil exports,...