News

In its annual outlook, the Organization of the Petroleum Exporting Countries (OPEC) has raised its world oil demand forecasts for the medium and long term. The organization emphasized the need for US$14 trillion in investments to meet this demand,...

Guyana is planning its national budget for the fiscal year 2024, the third such for which oil revenues will be a contributor. Recent consultations with the country’s trade unions were led by Prime Minister, Brigadier Mark Phillips, and Senior...

ExxonMobil’s Stabroek Block projects have produced approximately 91 million barrels of crude, according to data from the Ministry of Natural Resources’ Petroleum Management Programme. Average output for the year is approximately 377,850 barrels per day (bpd). Liza 2, in...

In two public requests for information, ExxonMobil Guyana Limited said it plans to put agreements in place to provide ocean current monitoring services and air quality monitoring stations.  As such, suitable firms are being sought.  Firstly, Exxon said it needs five...

Though it is a well-established fact that El Nino, a natural climatic phenomenon, is contributing to higher temperatures in many parts of the world, some critics of oil and gas are blaming it on ExxonMobil’s operations located more than...

Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundation stone of the North Field expansion project, which will raise the State of Qatar's LNG production capacity from the current 77 million tons per...

The Gas-to-Energy project, a critical development in Guyana, is steadily advancing. Amidst this progress, Guyana’s Vice President, Dr. Bharrat Jagdeo, has mentioned the possibility of using bridge financing to sustain the project until the awaited loan from the United...

Guyana Vice President Dr. Bharrat Jagdeo has revealed that ExxonMobil has shown no interest in purchasing Guyana’s carbon credits. When questioned on the issue, Jagdeo remarked, “We raised this matter with them. They have not been positively inclined to...

Baker Hughes, a leader in energy technology, has clinched a substantial contract to furnish a modularised liquefied natural gas (LNG) system and power island. This contract, which will be recorded in Q3 2023, stems from an expanded master equipment...

A recent Harvard International Review journal entry by William Mao has shed light on the potential for Guyana to harness its newfound oil wealth for sustainable development. While concerns loom over the challenges posed by the oil boom, Mao’s...