News

Major oil companies are placing greater emphasis on projects in the Americas as disruptions linked to the Middle East conflict create uncertainty around production, exports and future oil prices, according to an August 19 report by S&P Global. The report...

Guyana is rolling out phased electricity reductions as the government works toward its target of cutting consumer electricity costs by 50% nationwide. President Irfaan Ali said on August 18 that the first reductions have already reached some communities, particularly those...

Oil Spill Response Limited (OSRL) has opened a new Subsea Response facility at the Emergency Response Base at the Vreed-en-Hoop Shorebase Inc. (VEHSI) facility in Guyana. The facility now houses the capping stack and other subsea well intervention equipment. Its...

Petrobras and three private-sector gas producers have extended long-term access agreements for natural gas processing at the Catu Natural Gas Processing Unit (UTG Catu) in Bahia, Brazil, securing continued use of the facility and providing greater certainty for producers. In...

Guyana is once again considering how a refinery, expanded fuel storage and a possible national oil company could fit into a broader long-term strategy to strengthen energy security, as the country remains dependent on imported refined petroleum products despite...

The Government of Guyana plans to pursue more opportunities for local workers and businesses as offshore oil production moves toward one million barrels per day. Minister of Natural Resources Vickram Bharrat made the commitment on August 21 following the arrival...

Approximately 900 direct operational jobs and between 1,500 and 2,000 construction roles could be created if the OMAI Gold Project is developed as projected. The project is being advanced by Omai Gold Mines Corp. through its Guyanese subsidiary, Avalon Gold...

Chevron has made an oil and gas condensate discovery at an exploration well offshore Angola, where drilling encountered a hydrocarbon column of more than 600 meters (2,000 feet). The discovery was confirmed on August 17 by Chevron subsidiary Cabinda Gulf...

The Guyana Development Bank is taking shape, with President Irfaan Ali saying the government is now putting together the bank’s board and wider structure. Ali said on August 18 that the government hopes to operationalize the institution within the coming...

Petrobras has made its first hydrocarbon discovery off the coast of Amapá, confirming the presence of hydrocarbons in an exploration well in the Foz do Amazonas Basin on Brazil’s Equatorial Margin. In a statement issued on August 14, the Brazilian...