Showing results for:

Petrobras chips away at debt with asset sales

(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...

Hess reports US$106M net loss; Guyana remains shining light in company’s outlook

Hess Corporation (NYSE: HES) on Wednesday reported a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018, compared to a net loss of $324 million, or $1.07 per common share, in the...

Liza SURF contractor Saipem posts loss of $2.4M in Q1 2018

ExxonMobil Guyana Tier 1 contractor Saipem has narrowed its losses to $2.4m for the first quarter of 2018. The Italian oil and gas company's Q1 2018 loss marks an improved financial performance, following the $331m loss reported in Q4 2017. However, the Milan-based firm, operational in Saudi...

CNOOC wants China to speed up reform of fuel pricing

Chinese operator CNOOC Ltd, a joint venture partner together with ExxonMobil and Hess in the Stabroek Block offshore Guyana, is calling on Beijing to speed up the liberalisation of its retail fuel pricing scheme as high diesel and gasoline...

“It’s not all about oil…it’s about investing in Guyanese” – TOTALTEC

As the oil age dawns on Guyana in 2020, there is little time to prepare the hundreds of Guyanese that need to be trained in the basics of Oil and Gas and to obtain the necessary certifications that provide...

Laid-off sugar workers finding hope in Guyana’s petroleum industry

Several sugar workers who lost their jobs when estates began closing in Guyana last year have now been given a second chance at acquiring new skills and gaining employment in the oil and gas industry through the operations of...

Schlumberger CEO warns of tightening oil market

The head of the world’s largest oilfield service company warned of growing global supply challenges in the coming year as Venezuelan production falls and Nigerian and Libyan output reach capacity amid lingering fears of possible sanctions against Iran, Hart...

Int’l experts say frontier countries offer ‘favourable fiscal terms’ to secure oil deals

It is not uncommon for countries with little or no proven oil reserves to offer prospective investors favourable fiscal terms in an effort to kick-start their petroleum ambitions says the International Monetary Fund (IMF), Norway-based industry analyst, Rystad Energy...

Time will tell how successful Guyana policy framework for O&G is, Jamaica must prepare says former PM

Former Prime Minister of Jamaica, Bruce Golding says a number of examples in the region point to mistakes that can be made by oil producing nations and while time will tell how successful Guyana is in avoiding pitfalls, Jamaica,...

TechnipFMC secures FPSO design contract from BP

BP has awarded TechnipFMC the engineering design contract for the Tortue/Ahmeyim fields floating production, storage and offloading (FPSO) unit. TechnipFMC is the same company that has been awarded a contract by ExxonMobil Guyana for the engineering, manufacture and delivery of...

Latest News

Exxon-led group recovers over US$35.9 billion in costs from Guyana oil projects

ExxonMobil and its partners Chevron (formerly Hess) and CNOOC have recovered approximately US$35.9 billion in exploration, development and other...