Venezuela has submitted to the International Court of Justice (ICJ) a Preliminary Objection to the admissibility of the ongoing border controversy case with Guyana, resulting in a suspension of the hearing, Guyana’s Ministry of Foreign Affairs said on Wednesday.
Now,...
With most of Europe facing an economic crisis following Russia’s invasion of Ukraine, the United States has stepped in to relax some of its sanctions on Venezuela so that oil shipments can be resumed to keep several states from...
While the war in Ukraine is having substantial effects on the Latin America and Caribbean Region via higher commodity prices and weaker global growth, Guyana on account of its oil industry is projected to lead the pack this year...
With the direction the world is heading, investing in an electric vehicle (EV) is becoming the more cost-effective and environmentally-friendly choice. And if the skyrocketing fuel prices do not offer enough motivation to switch from motorcars that run on gasoline or diesel, the benefits...
The accelerated pace of oil and gas operations in Guyana is demanding more from supporting institutions. The economic context is changing so quickly that the Inter-American Development Bank (IDB) has had cause to restructure and expand a multi-million-dollar loan...
When it comes to the issue of climate change, the President of Guyana, Dr. Mohamed Irfaan Ali has reiterated that the nation will not be blamed or subjected to underdevelopment due to the inaction and planet degradation caused by...
The oil and gas resources discovered offshore Guyana since 2015 continue to play a key role in Hess Corporation’s portfolio and investor spending.
The company has a 30% interest in the ExxonMobil-operated Stabroek Block offshore Guyana where nearly 11 billion...
The International Monetary Fund (IMF) has not only lauded authorities in Guyana for the critical amendments it made to the Natural Resource Fund (NRF) law, but it has also praised the administration for not spending a cent until that...
For May 2022, Guyana earned profit oil income from the Stabroek Block totaling GY$21,381,305,000 (approximately US$102,548,225.42). In the prior month, the country received royalties to the tune of GY$4,390,903,000 (approx. US$21,059,486.81).
The following figures were extracted from the monthly Natural...
Chief Executive Officer and Chairman of the Board at ExxonMobil Corporation, Darren Woods, said the company’s strategy is to make sure it is a central partner when national oil companies and other resource holders want someone to develop the...