News

The tight electoral race for Brazil’s Presidency will end finally on October 30 when top candidates Jair Bolsonaro and leftist Luiz Inácio Lula da Silva go to a run-off after delivering unexpected poll numbers on October 2. After the votes...

New oil producer Guyana now ranks second only to Kuwait on the list of countries with the highest oil reserves per capita, placing it ahead of producers like Saudi Arabia, Norway, and Qatar, according to the International Monetary Fund...

The International Monetary Fund (IMF) has projected the total value of crude produced in the Stabroek Block this year at US$9.33 billion. This accounts for 93.4 million barrels of expected production, at an average price of US$99.90 per barrel. Guyana’s profit...

From the diverse landscape of Ghana to the ultramodern architecture of Qatar, one can find a plethora of lessons on what to do with oil revenues. But the one thing Guyana, an oil explorer’s paradise must not do, is find...

Tullow Oil, a company with interests offshore Guyana, says it plans to become a net zero by 2030 on its Scope 1 and 2 emissions. It said it will achieve this through decarbonising activities to eliminate flaring on its operated...

The International Monetary Fund (IMF) projects that Guyana, for the next five years, will see growth in its non-oil economy. The Washington-based institution projected that the country would see a growth of 7.2% Gross Domestic Product (GDP) for 2022. It said...

Maersk Drilling said it has secured a contract from Shell Brasil for the provisioning of the semi-submersible rig Mærsk Developer in the Campos basin offshore Brazil. The contract is expected to commence in March 2023, in direct continuation of the rig’s current...

Record high profits are doing nothing to prompt the sanctioning of new deepwater oil projects, according to Norway’s Rystad Energy. “Despite the high commodity prices and record high profits within the upstream industry, sanctioning of new oil and gas projects...

Oil production vessels definitely have a wow factor. Their sheer size, processing power and capability of operating for decades without pause make them truly impressive facilities. The ‘Egina’ is a beast of a floating, production, storage, and offloading (FPSO) vessel...

With a steady flow of billions of dollars in oil revenues expected, the International Monetary Fund (IMF) is urging Guyana to implement a strict fiscal rule to rein in excess spending. According to the IMF, Guyana is at high risk...