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Monthly Archives: June 2017

Guyana’s draft Sovereign Wealth Fund legislation to face public scrutiny – Finance Minister

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Guyanese will soon have an opportunity to scrutinize draft legislation being formulated for the establishment of a Sovereign Wealth Fund (SWF) that will play...

Oil will convert Guyana’s deficit to surplus – IMF

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The International Monetary Fund (IMF) said that Guyana’s external outlook remains favourable and is expected to improve with the start of oil production. The IMF...

IDB willing to fund creation of “proper institutions” in Guyana for oil & gas

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The Inter-American Development Bank (IDB) is open to providing technical and financial assistance to Guyana for the creation of institutions needed to support the...

Report finds offshore recovery still held back by oil price

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(Offshore) Westwood Energy’s updated World Oilfield Equipment Market Forecast projects higher offshore expenditure between now and 2021. The analyst now predicts total investments of $254...

Shell, Exxon to appeal latest Groningen gas production cap

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(Reuters) A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it would appeal against a Dutch government plan to lower...

New helicopter base under construction for Bristow in UK

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Construction has begun on a new HM Coastguard search and rescue (SAR) helicopter base at Lydd Airport in the UK which will be operated...

ExxonMobil, Hess and Statoil farm into Suriname blocks

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Suriname state oil company Staatsolie and the consortium consisting of ExxonMobil, Hess and Statoil have reached an agreement regarding a PSC for Block 59...

Alaska court to rule on oil wealth payments to state residents

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An Alaska lawmaker is making one last legal push to put about $1,000 back in the hands of nearly every state resident for their...

ExxonMobil says it is eager to partner with Guyanese businesses

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ExxonMobil announced today the establishment of the Centre for Local Business Development in Georgetown, Guyana, and signaled its commitment to work with the country’s...

BP produced over 12 billion barrels of oil in 40yrs of production at Prudhoe...

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The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to US energy security...