News

RAMPS Logistics’ Chief Executive Officer, Shaun Rampersad, said “a breath of fresh air” has been breathed into the Trinidad and Tobago services sector, now that the United States has granted a waiver of its sanctions regime to allow development...

Singapore, February 1, 2023: First Lady of Guyana, Arya Ali, says the name of the Prosperity floating production, storage and offloading (FPSO) vessel represents what is in store for the people of the new oil producing South American country....

Interest from investors in Guyana's upcoming bid round is expected to be favourable despite revised fiscal terms in the new Production-Sharing Agreement (PSA) that will see more revenue going to the South American country. “I do not see those fiscal...

Guyana Minister of Natural Resources, Vickram Bharrat, said Tuesday that GY$100.7 million (approximately US$483,000) has been budgeted to review the Whiptail field development plan (FDP). The government, he said, has received indication that the plan will be submitted in 2023. The...

An audit, launched in May 2022 of Stabroek Block costs submitted for the period 2018-2020, is due to wrap up in March this year, Guyana’s Minister of Natural Resources, Vickram Bharrat said Tuesday. There was a misconception, Bharrat explained, that...

Guyana’s Private Sector Commission is establishing closer ties with its Surinamese counterpart for enhanced collaboration as both countries pursue oil and gas development.  The Guyana-Suriname Private Sector Business Council headed by Guyanese Paul Cheong was created in 2022 and on...

The naming ceremony for Guyana’s third floating, floating, production, storage and offloading (FPSO) vessel – the Prosperity – is set for Wednesday Feb. 1 at the Keppel Shipyard in Singapore. First Lady of Guyana, Arya Ali, attended a reception hosted...

With 2022 closed, ExxonMobil raked in a whopping US$55.7 billion in earnings for the full year, up from US$23.0 billion in 2021 – a US$32.7 billion increase, its Chief Executive Officer (CEO) Darren Woods reported to investors on Jan....

After a successful start-up in February 2022 and a gradual production ramp-up in July, the Stabroek Block co-venturers are considering production optimisation measures on the Liza Unity FPSO in the fourth quarter of 2023. Hess President and Chief Operating Officer,...

Rystad Energy’s projections place the global energy market for suppliers in a seven-year feast, following a seven-year famine that ended in 2021. The analyst said last year was a turning point with the post-pandemic recovery and record high gas prices...