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Bill strikes balance between interest of oil companies, local businesses – Attorney General

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While he considers the Local Content Bill 2021 to be one of the most important pieces of legislation since Guyana's independence, Attorney General and Minister of Legal Affairs, Anil Nandlall recently praised the Bill for striking a balance between...
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Libya wants oil companies that boost production to get bonuses

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(Bloomberg) Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output to 1.4 million barrels a day by mid-2022. Reaching...
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Builder of Guyana FPSOs celebrates five years in new oil province

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SBM Offshore, the builder and operator of floating production storage and offloading (FPSO) units operating offshore Guyana, on Wednesday celebrated five years of operations in the new oil producing South American country. The auspicious occasion was marked with the...
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Oil extends losses as omicron concerns mount

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Crude oil futures were lower in mid-morning trade in Asia Dec. 15, extending losses from the previous session, as concerns over an impending surge in COVID-19 cases from the omicron variant mounted. At 10 am Singapore time (0200 GMT), the...
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This South American country is looking to attract $19 billion in oil & gas investments

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Developing countries are continuing to focus on commercializing their oil and gas resources so that the much-needed revenues can be used to expand their economies and improve the standard of living for their people. GlobalData said on December 3 that...
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Crude oil on track for four straight days of gains

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(S&P Global Platts) Crude oil futures continued to climb in mid-morning trade in Asia Dec. 9, on track for a fourth straight day of gains, as risk sentiment remained buoyant amid further positive developments around the omicron variant of...
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Guyana seeing “tremendous interest” in oil block up for auction next year – Bharrat

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Guyana is already seeing “tremendous interest” in one of the remaining oil blocks to be auctioned next year in what is now known to be a highly prospective basin where over 10 billion barrels of oil equivalent have already...
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Omicron pushes oil prices to three-month lows

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(S&P Global Platts) NYMEX January WTI settled at $66.18/b, down $3.77, and ICE January Brent finished $2.87 lower at $70.57/b. Oil prices, which had stabilized Nov. 29 following a steep selloff in the prior session, slid overnight following comments from...
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Government partners with UK company to offer scholarships to Guyanese for oil and gas

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The Government of Guyana announced on Wednesday that it has partnered with United Kingdom-based 3T EnerMech to offer scholarships to Guyanese for technical careers in the oil and gas industry. The training is being done under the Guyana Online Academy...
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Norway group says Yellowtail subsea contract among biggest this century

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Subsea giant TechnipFMC landed a major subsea equipment deal this month for ExxonMobil’s next phase of the Stabroek development offshore Guyana. According to Norway-based energy research and business intelligence company, Rystad Energy, it is among the top 10 contracts...
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Guyana among nations overhauling petroleum laws to attract investment – GEOExPro

Guyana is among a group of countries that have introduced sweeping changes to their petroleum laws in a bid...

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