News

In the wake of Saudi Arabia's recent announcement to extend its voluntary one million barrels per day (b/d) production cut through the end of this year, the US Energy Information Administration (EIA) anticipates a reduction in global oil inventories...

Deepwater oil development offshore Suriname is finally coming. TotalEnergies on Sept. 13 announced plans to plug US$9 billion in a Block 58 development to extract the massive oil finds hidden in the Sapakara South and Krabdagu fields - close to...

Guyana’s National Procurement and Tender Administration Board (NPTAB) opened bid documents from six groups vying for the country’s offshore oil blocks. Majors ExxonMobil and TotalEnergies, which already have interests in the jurisdiction, are among the set.  The groups are: 1. TotalEnergies,...

According to Guyana’s Maritime Administration Department, ExxonMobil is utilising the Stena DrillMax to conduct drilling at Haimara-2, an appraisal well with potential high-quality, gas-condensate resources. The oil major has said technical work is being done with updates provided to the...

Of 11 bids submitted to build and operate a modular oil refinery in Guyana, the government is now in possession of a list of five qualifiers, according to a Ministry of Finance 2023 Mid-Year report. “These contenders are now ranked,...

Amidst Guyana's promising economic trajectory from newfound offshore oil resources, the opposition has made its stance clear: "Poverty in this environment is totally unacceptable," declared Elson Low, the Economic Policy Advisor to the opposition. What’s their solution? A minimum livable...

Bp has announced the immediate resignation of Bernard Looney as Chief Executive Officer (CEO). The company's Chief Financial Officer (CFO), Murray Auchincloss, will take on the role of CEO on an interim basis. Looney's departure follows a series of allegations...

Oil nations Qatar and Guyana strengthened relations with the signing of new agreements overseen by the Emir, Sheikh Tamim bin Hamad Al-Thani, and President Dr. Mohamed Irfaan Ali on Sept. 12.  This is the Emir’s first visit to Guyana. It...

The Guyana Amazon Warriors (GAW) were deemed the talismans for their home country's rise on the global scene by ExxonMobil Guyana Limited President, Alistair Routledge as he announced the company's full sponsorship for the 2023 team.  "We are so excited...

With the Guyana government accelerating the implementation of several reform programmes alongside the unparalleled expansion of the oil sector, the International Monetary Fund (IMF) finds that the country will continue to see very rapid growth. In fact, the financial...