News

During his tenure as Head of Environmental Protection Agency (EPA)--October 1, 2018, to August 2020--Dr. Vincent Adams had stated, repeatedly, that he was able to secure an agreement with ExxonMobil Guyana for insurance coverage totalling US$2.5B. On Monday, ExxonMobil Guyana...

Lawmakers in Guyana approved the first withdrawal from the country’s Natural Resource Fund on February 10 allowing for US$607 million, all the revenue in the fund, to be removed. The first withdrawal, which amounts to about GY$126 billion, will...

The extent of the development projects offshore Guyana within such a short space of time since the first oil discovery in 2015 is being viewed as ‘unbelievable’ by Norway-based energy research and business intelligence company, Rystad Energy. Now, the...

Hydrocarbon resources diminish over time but the need for food remains central in the human existence. Guyana now has an unprecedented opportunity to modernize and mechanise its agriculture sector so that long after the oil is gone, the South...

(S&P Global Platts) Norway's Equinor said Feb. 28 that it has decided to stop new investments in Russia and start exiting from joint ventures because of Russia's invasion of Ukraine, according to a statement issued by the company. Equinor's announcement...

(Reuters) - Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Brent crude rose $4.16, or 4.3%,...

(Reuters) - Norway's $1.3 trillion sovereign wealth fund, the world's largest, will divest its Russian assets following Russia's invasion of Ukraine, the Norwegian prime minister said on Sunday. The fund's Russian assets, consisting of shares in some 47 companies as...

The bp board announced on Sunday that the company will exit its shareholding in Russian state oil company Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013. Additionally, bp chief executive officer Bernard Looney is resigning from the...

Most of the challenges faced by oil and gas producing countries are those that lie above the ground in the form of policy decisions being made by the host nation. One expert says this will be the biggest challenge...

(S&P Global Platts) An oil depot near the Ukrainian capital of Kyiv was set on fire after a missile strike, officials said Feb. 27, a day after one of two Ukrainian refineries was shut down due to military risks. On...