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U.S. bolsters Strategic Petroleum Reserve with 3 million barrels 

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The United States has taken steps to fortify its Strategic Petroleum Reserve (SPR) by securing an additional three million barrels of oil, as announced by the Department of Energy (DOE) on December 26.  Scheduled for delivery in March 2024, the...
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Demerara bridge replacement reaches 33% completion, concrete pouring advancing to western end

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The Demerara Harbour Bridge replacement project hit a milestone, reaching 33% completion.  China Railway Construction (Caribbean) Co. Limited reported progress with 378 workers across two sites: Peter’s Hall on East Bank Demerara and La Grange on West Bank Demerara.  Concrete pouring...
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Petrobras expands presence in Sao Tome & Principe offshore Africa 

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Petrobras, the Brazilian state oil producer, has acquired significant stakes in three offshore blocks in Sao Tome & Principe through a deal with Shell, marking its re-entry into African exploration. Under this agreement, Petrobras secured a 45% interest in blocks...
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TGS sets record for longest deepwater node survey with ExxonMobil assignment in Guyana

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TGS, a provider of data and intelligence for the energy industry, announced the completion of a groundbreaking series of marine ocean bottom node (OBN) surveys offshore Guyana. According to TGS, the final node recovery on December 1, 2023, marked...
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Guyana’s oil can replace Russian Ural – S&P Director

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S&P Global's Richard Swann has identified Guyana’s oil as a potential replacement for Russia's Ural oil in the global market. The opportunity came about after Russia invaded Ukraine and faced sanctions from Western nations. “... perhaps it's a replacement for...
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UK Navy vessel on routine visit to Guyana – VP 

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Vice President Bharrat Jagdeo has asserted that a visit by the United Kingdom Royal Navy patrol vessel HMS Trent to Guyana is part of a routine operation and not intended for aggression against Venezuela. During a press conference today,...
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Guyana poised to receive over US$100 million in signature bonuses early next year

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Following the recent oil blocks auction in Guyana, the government is set to receive more than US$100 million in signature bonuses, with contracts expected to be signed in the first quarter of 2024. The oil auction, the country's first...
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Exceeding expectations: Guyana’s economy set to soar by 39.2% in 2023, ECLAC reports

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Guyana's economic growth continues to outpace global trends, with projections soaring beyond expectations, according to the Economic Commission for Latin America and the Caribbean (ECLAC). ECLAC estimated a growth rate of 39.2% for Guyana this year, a figure in the...
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Guyana aiming to manage salary increases with other competing needs of population

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Despite calls in some sections of the society for the rapid scaling up of public servants’ salaries using oil revenues, the Guyana government says it will not yield to such temptations. It warned that steep increases can lead to...
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Petrobras sells Uruguá and Tambaú fields stakes to Enauta, sealing US$35 million deals

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Brazil's state-run oil giant, Petrobras, has finalized contracts with Enauta for the sale of its entire stake in the Uruguá and Tambaú fields, nestled within the Santos basin. The deal, amounting to US$35 million, signifies Petrobras' strategic maneuver to...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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