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Guyana says Venezuela trying to delay World Court ruling in border case

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,...

Venezuela set to resume oil shipments to Europe as US relaxes sanctions

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...

Guyana to lead Latin America, Caribbean with highest 2022 growth rate – World Bank Report

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...

Guyana’s first Tesla goes 233 miles on US$12.50 of charge – owner

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...

IDB expands funding for capacity building efforts in Guyana as oil operations surge

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...

Guyana to the world: “we’ll do it our way”

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...

Guyana low-cost, high-quality oil resources remain vital to Hess portfolio

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...

IMF gives Guyana thumbs up for restraint in spending oil revenues

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...

Guyana’s oil fund earns GY$21B from profit oil for May

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...

Exxon wants to be go-to partner for NOCs – Woods

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...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...