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Independent third-party assessment of hydrocarbon resources recommended for Guyana

Even as the Guyanese Government contemplates the array of development possibilities to be derived from the associated gas found so far at the Stabroek Block, it would be in the nation’s best interest to get an independent third-party assessment...

Clean energy push by Shell and BP could affect T&T – Ramnarine

Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says the push to reduce carbon emissions by Shell and BP can potentially affect the economic fortunes of the Twin-Island Republic. Speaking at the Madrid Energy Virtual...

New cases of coronavirus remain high globally, economic recovery on track, impairment in the energy space lessened

(S&P Global Platts) While new cases of coronavirus remain very high globally, economic recovery appears on track and impairment in the energy space has lessened. Even so, product cracks are low, indicative of weak demand, both seasonally and year...

ExxonMobil looking forward to positive results from Guyana drill campaigns

Results from the Redtail-1 prospect located some 103 nautical miles off the coast of Guyana at the Stabroek block are expected soon while a new campaign at the ‘deepest well ever drilled’ in the South American country at Tanager-1,...

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...

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Authorities re-emphasizing safety as  worker ‘seriously injured’ at Vreed-en-Hoop Shore Base

An employee of Saipem was “seriously injured” in a May 25 accident at the Vreed-en-Hoop Shore Base Inc. (VEHSI)...