Saturday, July 2, 2022

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U.S., Canadian oil company bankruptcies surge 50% in 2019: report

(Reuters) - The number of oil and gas company bankruptcies in the United States and Canada rose 50% in 2019 over the previous year, and is likely to increase as a slide in energy prices continues to shake producers...

University of Guyana will play pivotal role in Guyana’s oil future

The discovery of several billion barrels of oil offshore Guyana since 2015 and the start of production, now just months away, have made it clear that the South American country is entering a new era in its history that...

Permian gas flaring drops for the first time in years

Flaring of gas in the Permian Basin in the US in the first quarter of 2019 dropped for the first time in 1.5 years, according to Rystad Energy. Rystad Energy has been closely monitoring the level of natural gas flaring...

Royalties and taxation policies for Guyana’s oil sector

Successive Guyanese governments will essentially be relying on royalty and taxation measures to capture a “reasonable” share of the economic rents from Guyana Basin oil exploitation. This practise has also been followed by other host governments in geographic areas...

Capping stack, decommissioning pact among Liza 2 requirements – Dr. Bynoe

Guyana’s Department of Energy (DE) on Friday disclosed a number of measures which it says is tied to the approval granted to ExxonMobil for the 220,000 bpd Liza Phase 2 Development project in the Stabroek Block offshore the South...

Noble Tom Madden in Caribbean Sea on course for Guyana; ETA October 24

ExxonMobil Guyana’s third drillship – the Noble Tom Madden is forging ahead on its journey to the South American country and is currently positioned just South of Jamaica in the Caribbean Sea. OilNow understands the vessel is expected to arrive...

Chamber President urges caution on cash transfers and more focus on relaxing taxes, energy costs

“Proceed with caution” is the advice being given by the President of the Georgetown Chamber of Commerce and Industry (GCCI), Deodat Indar, to the Guyana government regarding potential cash disbursements to citizens, from oil revenue. “I would advise being cautious...

ExxonMobil looking to continue developmental programmes in Guyana

ExxonMobil, through its philanthropic arm - the ExxonMobil Foundation, will be looking to continue its efforts to create and implement developmental programmes to benefit Guyana.  This will be done through the many partnerships that the company has been forming in...

More youths being introduced to O&G

Twenty-six young people will be introduced to the functioning of the Petroleum industry and its basic operations through the Ministry of Natural Resources’ (MNR) 2018 Youth Apprenticeship Programme which was launched on Monday, August 06, 2018 at the Pegasus...

Guyana establishing new Energy Department

The Guyana Government will be establishing a Department of Energy within the next few months. This announcement was made by the South American nation’s Minister of Natural Resources, Raphael Trotman, on Tuesday evening. Speaking on the matter shortly after the...

Latest News

Nothing in the world more exciting to work on than Guyana’s projects – Exxon Upstream President

President of ExxonMobil Upstream Company, Liam Mallon, speaking at an event at State House in Georgetown on Thursday, said...