News

U.S. to add 6 million barrels more to strategic petroleum reserves by December 

The U.S. Department of Energy has taken steps to acquire six million barrels of crude oil, scheduled for delivery between December and January, as part of its energy security strategy. Market reports suggest that the purchase contracts will be...

Guyana’s hospitality sector gears up for 2,000-room demand surge amid oil and gas boom

Guyana's hospitality industry is experiencing significant growth in tandem with its booming oil and gas sector, resulting in a surge of internationally branded hotels being constructed in and around the nation's capital, Georgetown - the epicenter of the oil...

Exxon, partners to plug GY$800 million into “largest hydroponics project in Caribbean” – Pres. Ali

A new hydroponic farming project initiative has been launched in Guyana - the largest in the Caribbean, according to President, Irfaan Ali with 300 young Guyanese being the beneficiaries.  The funding comes from the Greater Guyana Initiative (GGI) - a...

“We are not going to weaken the PSA to suit ExxonMobil” – Jagdeo

Guyana’s Vice President Bharrat Jagdeo said on Thursday that the government does not intend to alter its new production sharing agreement (PSA) to suit ExxonMobil - the lone producer offshore. The new terms do not apply to the Stabroek Block...

China Merchant Heavy Industries selects TMC Compressors for SBM Offshore FPSO project

China Merchant Heavy Industries (CMHI) has awarded a contract to TMC Compressors (TMC) to deliver a marine compressed air system for a new build production vessel being constructed for SBM Offshore. TMC will supply a large-capacity marine compressed air system,...

Exxon was faced with a “drill or drop” decision regarding Kaieteur block – Routledge 

ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...

Venezuela receives green light from U.S. for unrestricted oil exports over six-month period 

The United States has announced the easing of sanctions on Venezuela after the government and opposition reached an agreement to have next year's election monitored by international observers. These sanctions relief measures will target Venezuela's oil, gas, and gold...

Exxon on target for first oil soon at yet another Guyana project

The start-up of ExxonMobil Guyana’s third Stabroek Block development is imminent, with company President, Alistair Routledge confirming that the project will be up and running soon.  “We’re still on course to start off Payara by the end of this year....

Final investment decision for Exxon’s 6th Guyana project expected early next year

Subject to approvals from authorities in Guyana, the final investment decision (FID) for ExxonMobil’s massive Whiptail development - its sixth in the Stabroek Block - is expected by Q1 2024.  So says the president of the company's Guyana operations, Alistair...

Guyana alerts int’l partners on reports of Venezuela military mobilization near border

The government of Guyana has issued a statement expressing its concern over reports of increased military activities and troop mobilization by Venezuelan forces in proximity to the country's borders. In response to these developments, Guyana has taken steps to...

Latest News

Ali in fiery exchange with BBC journalist about Guyana’s oil

Guyana’s President, Dr. Mohamed Irfaan Ali, sat down for an interview with BBC journalist, Stephen Shakur, on the sidelines...