News

Guyana’s Ministry of Housing and Water said the government has already started shortlisting persons for homes to be built at Silica City, the new highland urban settlement to be built in the oil producing country. On Wednesday, Minister within the...

Oslo-listed marine seismic survey firm, Magseis Fairfield, has been awarded a contract by ExxonMobil Guyana to conduct geophysical work in the Stabroek Block. According to Magseis, the contract is for a “large Ocean Bottom Node (OBN) project”, to be conducted using its ZXPLR...

A massive oil production ramp up off the coast of Guyana this year is seeing daily output at the Liza Destiny and Unity FPSOs reach record levels, delivering significant energy, and in turn revenue, for the country and the...

Dredging the Guyana Demerara channel is becoming increasingly important as the country expects a ramp up in marine traffic due to oil and gas activities. And GAICO Construction and General Services Inc. is positioning itself to provide the needed service...

A Minister of Government in Guyana, Charles Ramson Jr., wrote a letter dispelling claims in one section of the local press that the People’s Progressive Party Civic (PPP/C) administration promised to renegotiate the Stabroek Block Production Sharing Agreement (PSA). The...

IHS Markit said Brazil’s Petrobras has been making orders for floating production, storage, and offloading (FPSO) vessels at price tags spiked by supply chain disruptions. As Brazil targets an aggressive production ramp-up, it will continue to be faced with higher...

With the right fiscal regime in place, Guyana could reap the most benefits from the upcoming oil block auction, Norway’s Rystad Energy said. The highly anticipated auction will be the first time Guyana hands out oil licenses through a competitive...

Work on GAICO Construction and General Services Inc.’s dry dock laydown and storage yard at Nismes Foreshore, West Bank Demerara is moving apace with the company on track for phase one to be completed in October. Its Chief Executive Officer...

The Natural Resource Fund, established to receive revenues from oil sales and royalties, has received more than US$1.24 billion since first oil in December 2019. This scale of revenue flow is significant for Guyana, since from this single sector, these...

Saudi Aramco reaped the most benefits from the global energy crisis, raking in a record breaking US$48.4 billion in profits as the second quarter of 2022 closed. That represents a 90% jump in quarterly profits – up from US$25.5 billion...