Since the Centre for Local Business Development opened its doors in 2017 in Guyana to help local businesses build capacity and prepare for opportunities in the oil and gas sector, there has been a more than 200 percent increase...
Following its latest analysis of supply costs within the upstream sector, Rystad Energy, a research and business intelligence company based in Norway, has found that new oil discoveries are now more competitive and cheaper to produce.
Expounding in this regard,...
The sheer volume of Guyana’s multi-billion-barrel Stabroek Block discoveries has presented it with a golden opportunity for fundamental societal transformation. But to make this happen, the South American oil producer has to overcome the dreaded “resource curse” says Dr....
ExxonMobil said in an update on Wednesday that it plans to prioritize its investment in Guyana as well as Brazil, and the Permian Basin in the United States. The company’s corporate plans through 2027 will support its strategy of...
The Liza Destiny floating production storage and offloading (FPSO) vessel has been operating offshore Guyana since December 2019, producing oil at the ExxonMobil-operated Stabroek Block. A company spokesperson said on Wednesday that production rates on the FPSO has always...
Hugo De Stoop, CEO of Euronav says the oil tanker market is likely to continue to improve despite renewed concerns over coronavirus threats, but a further recovery in freight rates is needed before the sector returns to good health.
In...
Saipem has signed a new contract with Saudi Aramco on the Jafurah Development Program in Saudi Arabia. The project involves the construction of a hydrocarbon collection system and the transport of gas and condensate to the new Jafurah plant,...
ExxonMobil says it intends to use its super technology, expertise and over US$15 billion to aggressively pursue lower greenhouse gas emission initiatives in the coming years as it looks to play a major role in support of global emission...
It was highlighted at the Offshore Technology Conference in August this year that exploration in the Guyana-Suriname Basin has been a decades-long endeavor, including technical challenges and a lengthy history of drilling with no offshore success prior to the...
U.S. investment and research firm Zacks said in a recent analysis that Exxon Mobil Corporation has seen upward earnings estimate revisions for 2021 and 2022 in the past several days and so far for the year, the stock has...
