Latest News

Venezuela’s foreign currency income tumbles 99% as oil exports dry up

Sanctions imposed by the United States have had a debilitating impact on Venezuela’s crude exports from which the country got most of...

Shell to cut up to 9,000 jobs in low-carbon transition

(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as...

Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as...

Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of...

Venezuela buying fuel from Iran with plane loads of gold

Venezuela has reportedly obtained fuel from Iran in return for plane loads of gold, according to comments which have been attributed to...

Trending

Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of...

Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as...

Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas...

Less than 15 percent of Guyana’s discovered resources have been sanctioned

With over 8 billion barrels of oil equivalent discovered to date and just two approved developments, Guyana still has significant hydrocarbon resources...
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Local Content

Guyana Local Content Panel looking to begin consultations – Vickram Bharrat

Guyana’s Minister of Natural Resources Vickram Bharrat said on Tuesday that the recently appointed Local Content Advisory Panel has already commenced work...

Local content legislation for Guyana Parliament by year-end

Draft local content legislation should be ready for Parliament by the end of the year in South America’s newest oil producing nation...

Start date, scope for review of Guyana local content policy to be worked out – Energy Consultant

Trinidadian energy consultant Anthony Paul says details for his engagement with the Government of Guyana to review the country’s Local Content Policy are being...

Guyana’s Local Content Policy for review

Guyana’s Minister of Natural Resources, Vickram Bharrat, says the newly installed PPP/C government will take steps to review and amend the Local Content Policy...

Policy calls for ‘first consideration of Guyanese’ in new O&G hotspot

In making decisions concerning recruitment and procurement to execute petroleum activities, operators and their contractors in Guyana’s emerging oil and gas industry are expected...

Guyana now has a Local Content Policy

The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expected to operate has...
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Latest News

Venezuela’s foreign currency income tumbles 99% as oil exports dry up

Sanctions imposed by the United States have had a debilitating impact on Venezuela’s crude exports from which the country got most of...

Shell to cut up to 9,000 jobs in low-carbon transition

(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as...

Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as...

Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of...

Venezuela buying fuel from Iran with plane loads of gold

Venezuela has reportedly obtained fuel from Iran in return for plane loads of gold, according to comments which have been attributed to...

Regional

Venezuela’s foreign currency income tumbles 99% as oil exports dry up

Sanctions imposed by the United States have had a debilitating impact on Venezuela’s crude exports from which...

Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

Countries which lack the necessary skills and experience in the oil and gas industry run the risk...

Venezuela buying fuel from Iran with plane loads of gold

Venezuela has reportedly obtained fuel from Iran in return for plane loads of gold, according to comments...

Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

The South American country of Guyana is on course to receive the highest estimated total income from...

Seadrill targeted in operation carwash probe

Offshore drilling company, Seadrill Ltd., has been targeted in the ongoing criminal investigation by the Federal Police...
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Must Read

Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as...

Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas...

Less than 15 percent of Guyana’s discovered resources have been sanctioned

With over 8 billion barrels of oil equivalent discovered to date and just two approved developments, Guyana still has significant hydrocarbon resources...

Majors exiting 203 country positions but remain in play at key locations like Guyana

The largest oil and gas companies in the world, including US oil major ExxonMobil,...

Near future multiple FPSO projects to have lasting impact on Guyana development – Tina Riley

From Ranger in the North-West to Haimara in the South-East, the more than 8 billion barrels of oil equivalent resources found to...

Guyana oil minister set to talk at Madrid Energy Conference this week

Guyana’s Minister of Natural Resources, Vickram Bharrat, will be the key speaker on a panel discussion at the Madrid Energy Virtual Conference...

Opinions

Be patient: Oil does not disappear – Strengthen institutions for Guyana’s growth

The privatisation in an economy can set in motion a vicious circle. Even without corruption, rapid privatisation means that governments receive less than fair market value for the companies they sell-off. While privatisation has highlighted the problem, conflicts over the fairness of natural resource privatisations and contracts are endemic around the world. Responding to these Risks Local agency problems are widespread. They cannot simply be...

Outlook for global energy with new suppliers such as Guyana

Demand is weaker, but it is getting better. There are challenges for both demand and supply sides for all oil-producing economies. The...

Issues of privatisation and institutional structures for Guyana’s economic growth

There are further problems with the timing and manner of privatisation. The International Monetary Fund (IMF) once urged as rapid a privatisation...

Mechanisms for diversion in Guyana’s petroleum industry

There are basically four (sometimes interrelated) mechanisms for “corrupt” privatisations, besides the obvious ones – just giving the resource to one’s cronies,...

The role of the invisible hand and diversion in Guyana’s natural resources development

The fact that privatisation did not solve the problem of resource diversion should not have come as a surprise: profit-maximizing private enterprises...

Petroleum Contracts

Agreement

between Government of Guyana and EEPGL + CNOOC/NEXEN + HESS

Agreement

between Government of Guyana and CGX Energy

Agreement

between Government of Guyana and Ratio Energy

Agreement

between Government of Guyana and Tullow/Eco Atlantic

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Video News

Exploration

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

INTO THE DEEP: At 8,000 meters Tanager-1 is the deepest well ever to be drilled by ExxonMobil offshore Guyana

FAST FACTS The Tanager-1 well has a target total depth of 8,000 metres making it the deepest well ever...

ExxonMobil awarded 35-year concession in Argentina’s Vaca Muerta

(S&P Global Platts) ExxonMobil has been awarded a 35-year concession for another block in Vaca Muerta, a massive shale play that has been driving...

Report: 9 prospects at Kaieteur Block hold an estimated 2.1 billion barrels of oil

A study conducted on the Kaieteur Block offshore Guyana has revealed that nine prospects, including the Tanager-1 well where exploration drilling is underway, hold...

Discoveries

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them...

World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes

Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true...
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Production

Saudi Arabia denounces OPEC+ members trying to cheat oil quota

(Bloomberg) --Saudi Arabia showed its determination to stop OPEC+ members cheating on their production quotas, delivering a thinly veiled dressing-down to its...

ExxonMobil limiting oil production after encountering additional challenges with gas compressor

Additional challenges with the gas handling system on the Liza Destiny FPSO has resulted in ExxonMobil taking a decision to limit oil...

Venezuela oil production plummets as Guyana output set to soar

The country with the largest oil reserves in the world could soon be producing none of it. Venezuela—one of the world’s earliest and...

A tough summer for oil-dependent nations may foretell their new normal

(Bloomberg) --From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse...