News

Guyana government makes first 2023 withdrawal of US$200 million from oil fund

Already well into its massive 2023 development plan, the Guyana government has withdrawn US$200 million from the Natural Resource Fund (NRF). Senior Finance Minister, Dr. Ashni Singh made the announcement Thursday afternoon. The Minister said that pursuant to Section 16 of...

TotalEnergies made US$20.5 billion profit in 2022, bogged down by Russia-exit

European major, TotalEnergies, reported a profit of US$20.5 billion to International Financial Reporting Standards (IFRS). The company said this includes nearly US$15 billion in provisions related to Russia, for an adjusted net income of US$36.2 billion. Return on equity was...

A timeline of Exxon’s oil development projects in Guyana

With more than 30 discoveries made offshore Guyana, ExxonMobil has a clear line of sight for the addition of six floating production, storage, and offloading (FPSO) vessels by 2027, a goal that is expected to see oil production exceeding...

Unintended negative consequences could come from windfall taxes – Exxon Head

Counterproductive. That is how ExxonMobil describes windfall taxes. And it is sticking to this position, so much so that it filed a lawsuit against the European Union (EU) back in December to challenge its introduction. The EU windfall tax allows...

First Guyanese oil service company to get ISO 29001:2020 certification

GO-NDE Inc. – a partnership between Trinidad’s Non-Destructive Testers Limited (NDT) and Guyana Oil and Gas Support Services Inc. (GOGSSI) has become the first Guyanese oil service company to be ISO 29001:2020 certified. ISO 29001 is an international standard that...

BP extends Stena IceMAX contract for drilling in Gulf of Mexico

BP has extended its contract for utilisation of the mobile offshore drilling unit (MODU) Stena IceMAX, Stena Drilling said Tuesday. This extension shall see the MODU mobilise to the United States Gulf of Mexico in direct continuation of the initial...

Guyana, Permian growth offset Exxon’s divestments, Sakhalin-1 expropriation in 2022

ExxonMobil revealed that earnings from growth at its Guyana and Permian projects in 2022 more than offset the losses from its divestments and the expropriation of the Russian Sakhalin-1 project. This was also helped by higher prices on account...

BP scaling back oil and gas withdrawal, rakes in US$27.7 billion in profits for 2022

UK supermajor, bp has decided that it will be producing oil and gas longer than it intended to, in direct response to the world’s growing energy needs. But it is not dialling back on its transition to green energy; bp...

Guyana Opposition demands Minister hand over all Gas-to-Energy files

Two Members of Parliament (MP) have approached the Guyana House seeking an order for the Minister of Natural Resources, Vickram Bharrat, to table all documents relating to the construction of the Wales Gas-to-Energy project and the Heads of Agreement...

NetBenefit Software looking to extend local content tracking success to Guyana

Guyana passed Local Content legislation a little over a year ago to ensure that its citizens get the most out of the petroleum resource – a whopping 11 billion barrels discovered in the Stabroek Block and counting. Now, NetBenefit Software...

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Anaergia Announces Delay in the Filing of Its Audited Financial Statements and Related Disclosures

BURLINGTON, Ontario--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced today that there will be a delay in...