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Guyana poised to be world’s largest oil producing country per person in 2020s

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Ahead of Kuwait, Saudi Arabia, Brunei and Norway, the South American nation of Guyana, with a projected output of 700,000 barrels per day among just 770,000 people, is set to be the world’s largest oil producing country per person...
News

Deep-sea oil drillers optimistic for 2019

OilNOW -
Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a greater chance that it will happen, said analysts at Credit Suisse Group...
News

Brazil cuts oil royalties to boost recovery rates

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(Argus Media) Brazil's hydrocarbons regulator ANP reduced royalties to 5pc from around 10pc in an effort to boost recovery at qualifying mature fields. The royalty reduction is contingent on new investment commitments and only applies to those fields that have...
News

Oil rises as Saudis are said to be content with prices over $80

OilNOW -
(Bloomberg) Oil rose as Saudi Arabia was said to be comfortable with Brent crude exceeding $80 a barrel. Futures in London added as much as 1.7 percent. The world’s biggest crude exporter is content to see the global benchmark advance,...
News

Call for halt to oil production is ‘self-promoting stunt in pursuit of ulterior motive’ – former minister

OilNOW -
Debate on a myriad of issues continues in Guyana as the country gears up to become a major oil producer in the region. A former government official is describing as ‘disturbing’, a recent call for the Guyana government to...
Exploration

Guyana’s oil fortune rapidly increasing

OilNOW -
‘Unprecedented’ is the one word that sums up the remarkable string of oil discoveries which US supermajor ExxonMobil has been making off the Guyana coast since 2015. The company’s success rate for finding crude in an area five and...
News

Once int’l contracts have been engaged in there is no question of removal, renegotiation – Granger

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Guyana’s President David Granger says gov’t will continue seeking the best advice for future negotiations of oil contracts while pointing out that once international agreements are entered, there is “no question” of renegotiation. Explaining that arrangements with ExxonMobil will be...
News

Mexico gov’t may be looking to halt open bidding for oil blocks – Reuters

OilNOW -
The incoming government of Mexico may be considering suspending auctions for oil and gas projects in favour of direct negotiations Reuters reported on Wednesday. Mexico’s state-owned petroleum company Pemex could be given the authority to pick its own joint-venture partners...
News

Saipem secures US$700M in contracts for Liza Phase 2 development in Guyana

OilNOW -
Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana to the tune of 700 million USD. These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil,...
News

American Chamber of Commerce Guyana branch launched as country gets ready for first oil

OilNOW -
A branch of the American Chamber of Commerce (AmCham) was launched on Monday evening in the South American country of Guyana, at the Guyana Marriott Hotel in the country’s capital city, Georgetown. With the country racing towards becoming an oil...
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Two oil nations, one engineering crisis: Guyana short, Trinidad shrinking

The challenge of producing and retaining engineers is playing out in two different ways in Trinidad and Tobago and...

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