News

Guyana is now known around the world as having the hottest oil and gas basin where a series of unprecedented discoveries by ExxonMobil has placed the country 17th globally, for the largest hydrocarbon reserves. But according to its President, Dr....

While it was pleased to net a record-breaking US$6.6 billion in earnings during the 2022 third quarter, French multinational conglomerate, TotalEnergies has expressed concern about the circumstances that led to its big payday. Its Chief Financial Officer, Jean-Pierre Sbraire noted recently that...

Staatsolie announced last week that the first group of 30 students attended a ceremonial launch of an 18-month technical training programme. The ‘Oil & Gas Kopprogramma’ at the Institute of Natural Sciences (NATIN) is being offered through a collaboration between...

Guyana’s forests which stretch over 18 million hectares absorb 154 million tons of carbon dioxide (CO2) annually from the atmosphere. This is about the same annual greenhouse gas emissions from Norway, Sweden, Finland, and Denmark with a combined population...

With the Liza Destiny and Liza Unity FPSOs producing approximately 360,000 barrels of oil per day (bpd), Guyana is already the second leading productive asset for Hess Corporation, a 30% partner in the Stabroek Block. And once the Prosperity and...

While Guyana has invited interested bidders to submit proposals to finance and build the country’s first oil refinery, this is by no means an indication of the country’s interest to be the refining capital of the region, says Vice...

While a United Nations report, released last month, lobbies for countries to invest in renewable energy sources over natural gas, Guyanese stakeholders insist that the government remain steadfast in realising its agenda for a gas-led energy mix. In fact, financial...

Verisk recently announced the signing of a definitive agreement under which an affiliate of Veritas Capital will be acquiring, Wood Mackenzie (WoodMac) – the world-renowned data analytics source. Veritas Capital describes itself as a private equity firm that invests in...

In a four-day span, Brazil’s state oil producer, Petrobras, announced that it discovered oil in two Santos Basin wells. The first discovery was made during a training test at the pioneer well 1-BRSA-1381-SPS (Curaçao) in the pre-salt of the southwestern...

For Guyana’s first oil blocks auction, the government has said successful bidders will have to pay a minimum of US$10 million for each of the 11 shallow water blocks in play. They would also have to pay a minimum of US$20...