News Archives - Panorama Insurance Brokers

Saudi Arabia denounces OPEC+ members trying to cheat oil quota

(Bloomberg) –Saudi Arabia showed its determination to stop OPEC+ members cheating on their production quotas, delivering a thinly veiled dressing-down to its closest ally in the region, the United Arab Emirates. Prince Abdulaziz bin Salman, the Saudi energy minister, forcefully condemned cartel members that try to get away with pumping too much crude. While he… Read More

With the 3rd largest oil reserves in the world – Canada stands ready to help new producer Guyana build capacity – High Commissioner

Guyana is being encouraged to harness the decades of experience in the petroleum industry that Canada has to offer, as the South American country moves to develop its vast hydrocarbon resources. This advice came from Canada’s High Commissioner to Guyana, Lilian Chatterjee, speaking at the first Caribbean Virtual Oil and Gas Summit (CARIVS).  Addressing hundreds of… Read More

Upfront investment in proprietary data, technology behind multi-billion-barrel discoveries offshore Guyana – ExxonMobil

The unprecedented success rate for discoveries that ExxonMobil has had offshore Guyana since 2015 is being attributed to proprietary seismic data and technology the company has developed over the years. Company officials told participants at the Caribbean Virtual Oil and Gas Summit (CARIVS) this week that the use of big tech has been key to… Read More

Guyana, United States set to sign ‘Growth in the Americas’ MoU to push energy, infrastructure investments

U.S. Secretary of State Michael R. Pompeo’s visit to the new oil producing country of Guyana will see the signing of a Memorandum of Understanding (MoU) geared towards improving the investment environment in the South American nation. According to a Senior State Department official, on Friday Mr. Pompeo will meet with Guyana’s Foreign Minister Hugh Todd and… Read More

Use oil revenues to push diversification agenda before window of opportunity is lost – Nokta urges

President of the Guyana Manufacturing and Services Association (GMSA) Shyam Nokta believes that now is the time that Guyana must make the most of the opportunities to strengthen the South American country’s traditional economic sectors given not only the finite nature of oil and gas but also the increasing environmental consciousness that its leading towards… Read More

SBM Offshore plans to put more Guyanese on FPSOs and in shorebase offices – Michiel Heuven

SBM Offshore is looking to increase its local workforce and build the capacity of Guyanese to take up more leadership positions in its operations in the new oil producing South American country. This is according to the company’s Head of Operations for North America and the Caribbean, Michiel Heuven. SBM Offshore has been awarded contracts… Read More

ExxonMobil expects ‘significant progress’ on gas to shore project in the coming year, says benefits are clear for Guyana

The newly elected Guyana government has affirmed its position on a gas to shore project, committing to developing a natural gas power generation facility in order to cut the country’s energy cost by some 60 percent; and ExxonMobil Guyana says that it expects significant progress to be made on this project in the coming year.  “I… Read More

Guyana is a core investment priority, ExxonMobil affirms at CARIVS Summit

President of ExxonMobil Guyana, Alistair Routledge on Tuesday reaffirmed the company’s commitment to the South American nation as two major oil discoveries last week boosted the oil giant’s flourishing portfolio in the prolific Stabroek block. Addressing attendees at the first Caribbean Virtual Oil and Gas Summit (CARIVS), Routledge affirmed that the Stabroek block continues to… Read More