ExxonMobil suffers US$610M in losses for first quarter, cuts CapEx again by US$10B
ExxonMobil Corporation announced early this morning that it has suffered an estimated first quarter 2020 loss of US$610 million, or US$0.14 per share as...
CDC, Rotary Guyana receive over $60M from Stabroek Block partners to aid Guyana’s fight...
The Civil Defence Commission (CDC), Salvation Army and Rotary Guyana have received more than $60 million to support COVID-19 relief programmes.
The funds were provided...
Brent price to start recovering by third quarter; Guyana’s Liza Field will survive even...
In light of the increased social distancing and lockdown measures to address the spread of the novel coronavirus, several industry analysts expect that the...
Guyana will still see best growth rate in history despite COVID-19 pandemic –Jordan
Even though the COVID-19 pandemic has dampened expectations of Guyana being the fastest growing economy in the world this year, the country will still...
Guyana’s oil industry to feel the squeeze as Brent crude price to average US$20/bbl
International research consultancy group on petrochemicals and renewable energy, Wood Mackenzie, has provided a depressing forecast regarding the outlook of Brent Crude price. According...
Guyana has serious accommodation problem; “rinky-dink” hotels won’t cut it-NICIL CEO
The oil and gas industry has exposed a serious shortcoming in Guyana’s hotel industry. According to acting Chief Executive Officer (CEO) of the National...
April to see steep decline in demand for oil, but market likely to improve...
As a result of the Organization of the Petroleum Exporting Countries’ (OPEC) failure to agree on production restraint in early March, the implications of...
ExxonMobil cuts 2020 budget by US$10B, says third project offshore Guyana to be delayed
As a result of the declining demand for oil on the world market, ExxonMobil said today that it is reducing its 2020 capital spending...
Stena Carron drillship pulled from drilling programme on Stabroek Block due to COVID-19
According to an advisory that was published by the Maritime Administration Department, the Stena Carron drillship has been pulled from its drilling programme on...
Stabroek Block produced 1.7 million barrels of oil in January- Petroleum Report
The production of oil from the Stabroek Block totalled 1,745,930 barrels for January 2020, or 56,320 barrels of oil per day. This was noted...
