News

Guyana’s Vice President, Dr. Bharrat Jagdeo says there are several reasons why the institution of a US$50 per tonne payment for flaring of carbon dioxide should not be dismissed as nominal. For one, it represents a move from no...

Pursuing the fulfillment of its Low Carbon Development Strategy (LCDS) up to 2030, the government wants involvement from all levels of society in its national sustainability plan, even oil companies. In promotion of this, the government and the Stabroek Block...

The government of Guyana is drawing closer to the finalisation of arrangements for the landmark Gas-to-Energy project, particularly the onshore facilities it is responsible for building. Vice President Dr. Bharrat Jagdeo shared during a press conference on Wednesday that the...

BP announced on Wednesday that it will acquire 40.5% equity stake in the Asian Renewable Energy Hub (AREH), potentially the world’s largest renewables and green hydrogen hubs. The acquisition will make BP operator of the US$36 billion project. The green hydrogen hub...

After operating in Guyana for 22 years, ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) has recorded profit for the first time to the tune of GY$132 billion. In financial records seen by OilNOW, EEPGL’s revenues stood at...

Guyana has been blessed with enormous oil and gas resources. The revenues from this remarkably lucrative sector can transform the country and enable its citizens to reach higher standards of living. These revenues can also buttress the diversification of...

The nearly 11 billion barrels of oil equivalent found so far at the Stabroek Block offshore Guyana may just be a scratch on the surface of what is emerging as one of South America’s most prolific oil and gas...

Guyana’s upward trajectory brought on by its massive oil and gas reserves has piqued United Kingdom investor interest. According to the British High Commissioner to Guyana, Jane Miller, many companies are eager to establish a stronghold in the South...

Guyana expects windfall revenues from the sale of its crude this decade as ExxonMobil looks to add one new oil production vessel almost every year to its offshore operations. To make sure these revenues contribute to lasting growth for...

The hunt for a candidate to man Brazil’s state-run Petroleo Brasileiro (Petrobras) as its Chief Executive Officer (CEO) continues. However, a new Board Chairman was tapped along with nine other members. According to Petrobras, Gileno Gurjao Barreto – the new chair pick –...