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Regional & Int'l News

Guyana oil production to begin in 5 years

Guyana oil production to begin in 5 years

The big disappointment for Guyana, following the discovery of between 800 million to 1.4 billion barrels of oil resources by US major ExxonMobil 200 km offshore, is that the production of crude will not begin for another five years (2021). 

T&T's first LNG cargo passes through Panama Canal expansion

T&T's first LNG cargo passes through Panama Canal expansion

BP Trinidad and Tobago (bpTT) today issued photos of the historic passage of the BP British Merchant through the newly expanded Panama Canal. The British Merchant, operated by BP Shipping, left Atlantic LNG at Point Fortin on July 26th 2016 with its cargo destined for Mexico. It was the first liquefied natural gas (LNG) tanker from Trinidad and Tobago to make its way through the expanded Panama Canal which was officially opened on June 26th 2016.

Guyana to join ranks of oil producing nations

Guyana to join ranks of oil producing nations

Guyana looks set to soon join the ranks of oil producing nations. ExxonMobil has announced that its highly anticipated Liza-2 appraisal well has confirmed the discovery of a world-class, highquality oil reservoir offshore Guyana. 

Activity continues in Guyana

Activity continues in Guyana

With Exxon in the midst of their highly anticipated appraisal drilling campaign offshore Guyana, the government has been taking its time to increase its understanding of the oil and gas industry and where it needs to be heading, according to Raphael Trotman, the Minister of Natural Resources. 

ExxonMobil in Guyana

ExxonMobil in Guyana

ExxonMobil began drilling a second appraisal well in an offshore field near where its Liza 1 well struck oil last year. The enthusiastic exploration and appraisal schedule for Guyana by ExxonMobil is being pushed by the company’s plans to accelerate commercial development of Liza. 

Staatsolie refinery update

Staatsolie refinery update

Staatsolie, the Suriname state owned oil company, recently completed an expansion of the Tout Lui Faut refining complex. The process began more than 10 years ago when the expansion of the refinery was first designed and conceptualised. The project looked at boosting production capacity for crude oil and expanding the number of refined products. The expansion has doubled the refining capacity of crude oil from 7,000 bpd to 15,000 bpd. The facility also now produces premium diesel and premium gasoline. 

Benefitting from a conditional pledge under the new climate accord

Benefitting from a conditional pledge under the new climate accord

The Paris climate pledges submitted through the system of Intended Nationally Determined Contribution (INDC) action plans aim for global decarbonisation. The Trinidad & Tobago pledge includes the concept of a Caribbean Carbon Market (CCM) hosted by the Energy Chamber of Trinidad & Tobago. The market plan has been vetted by Bloomberg New Energy Finance and was showcased at its 2015 summit in New York City. 

Deepwater opportunities in the Eastern Caribbean

Deepwater opportunities in the Eastern Caribbean

Trinidad and Tobago has been an iconic center for delivering hydrocarbons to the international market for several decades.  Most recently it has been known for its production of LNG, Ammonia and Methane.   Many of the challenges and concerns of late have been related to continuous gas supply, the increasingly competitive global market, and of course, low oil and gas commodity prices.

When oil arrives in Guyana

When oil arrives in Guyana

Earlier this year, the news came that Exxon Mobil had found oil offshore Guyana. It appears to be a major find. The news created a sense of euphoria among Guyanese. This discovery came during the tenure of the previous government and immediately, the then President Donald Ramotar arranged for a series of seminars to prepare the nation for the impact of an oil economy.

T&T shut out of gas supply to Jamaica

T&T shut out of gas supply to Jamaica

The likelihood of Trinidad and Tobago ever supplying liquefied natural gas (LNG) to Jamaica, as was mooted at one time, seems more and more remote and probably won't happen at all. 

Guyana Bound - Stena Carron

Guyana Bound - Stena Carron

Exxon has contracted the Stena Carron deep-water drillship to conduct their 2016 drilling campaign offshore Guyana.

Caribbean LNG project awaiting FID

Caribbean LNG project awaiting FID

There is a market for at least 3.5 million tonnes a year (mmty) of liquefied natural gas (LNG) in the Caribbean, one of the last regions in the world to be thinking of switching out of heavy fuel oil/diesel and into natural gas for power generation.