News

The United States has granted approval to Trinidad and Tobago to develop the Dragon gas field which lies in Venezuela’s territorial waters, Reuters said, allowing business with Venezuela’s state-run oil company, PDVSA. Trinidad Prime Dr. Keith Rowley reportedly said government...

Fangtooth is the reservoir that keeps on giving as Stabroek Block operator ExxonMobil hit pay once again, early this month. The announcement was made by its partner Hess Corp on Jan. 25.  According to Hess, Exxon made a “significant” oil discovery...

Out of Guyana’s massive GY$781.9 billion budget, the government has allocated GY$500 million towards the improvement of institutional capacity for the management of the oil and gas sector. The funding comes from a World Bank US$20 million loan approved...

Hess’ Guyana and Bakken projects will take the majority share of its US$3.7 billion 2023 exploration and production, capital and exploratory budget. “More than 80% of our 2023 budget is allocated to Guyana, which is positioned to be one of...

Guyana's Vice President Dr. Bharrat Jagdeo said he expects a battle to get the blue economy recognised on the same level in global climate talks as has been achieved with forests. He explained that many developing countries have been trying...

CNOOC Petroleum Guyana Limited (CPGL) is preparing to tender for onshore catering services (Chinese cuisine) in support of its activities in Guyana. In a notice, CGPL said the bidding process will be twofold: a pre-qualification round (RFI) and a proposal...

Noble Corporation said its earnings for the fourth quarter of 2022 are expected to be between US$140 million and US$150 million. This was revised downward from the previous outlook of US$155 million and US$175 million. The reduction is primarily...

The Trinidad and Tobago Energy Chamber has issued an apology after a map displayed during its Energy Conference this week showed a portion of Guyana’s Stabroek Block extending over the Guyana/Venezuela border. The Chamber said the “erroneous” map was developed...

The best of Jamaican businesses are currently scouting investment opportunities in Guyana, a country their Minister of Industry, Investment and Commerce, Aubyn Hill described as Jamaica's “natural economic hinterland.” Hill is leading the delegation of over 45 private sector companies,...

Come February 2023, Guyana will make public the first draft of its new model Production Sharing Agreement (PSA), said Finance Minister, Dr. Ashni Singh. “We have announced the main elements of a new fiscal framework, which will form the basis...