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Hess’ carbon credits could ‘offset’ Stabroek Block emissions for a decade

OilNOW -
Texas-based Welligence Energy Analytics has projected that Hess’ forest credits deal with the Guyana government, will buy up more carbon dioxide equivalents (CO2e) than is estimated to be emitted from the Stabroek Block in the same period (2022-2032). The planned purchase by Hess...
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Brazil mature asset reserves could jump by 1 billion boe

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With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining...
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Issuance of ART credits to Guyana a breakthrough for global carbon market, says Norway

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Norway’s Minister for Climate and Environment, Espen Barth-Eide, said the validation and issuance of certified carbon credits on the register of Architecture for REDD+ Transactions (ART) is a breakthrough for the emergence of a high-quality global carbon market to...
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New US$3 million dry-dock yard to support Guyana’s booming marine sector

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A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking facility and shipyard located at Supply, on Guyana’s East Bank corridor. Dry Dock will be housed on a 30,000 square feet...
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Petrobras to plug US$78 billion into CAPEX for 2023-2027

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Brazil’s state-owned Petrobras plans to invest over US$78 billion into capital expenditures (CAPEX) to achieve goals outlined in its new 2023-2027 Strategic Plan. Petrobras said that the amount is higher than the average of its last six strategic plans, signaling that investments have returned...
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More Guyanese trained to service electric vehicles

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The Department of Public Information has said that thirteen persons received certificates for their successful completion of a Level Three Hybrid and Electric Vehicle training programme in Georgetown. The five-day programme taught participants how to identify, repair, and maintain various...
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Guyana’s oil fund almost at US$1.4 billion at November’s end

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Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end of November 2022. In its monthly statement on the Fund, Guyana’s Central Bank said the account received GY$36.9 billion (US$177.14...
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Resource-dense Stabroek Block offers tremendous scope for tie-backs – Hess Chief

OilNOW -
With Guyana’s Stabroek Block being such a resource dense concession, ExxonMobil Guyana and its partners see great potential for tie-backs that could lengthen the lifespan of varying projects. This was noted by Chief Executive Officer (CEO), John Hess during the Bank of America...
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Guyana, Brazil will have to brace for costlier deepwater projects

Kemol King -
In a recent analysis of deepwater developments, Wood Mackenzie said that supply chain constraints remain a concern. And this spells difficulty for operators under pressure to increase drilling and production at a time when energy markets have been sent...
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Strong institutions, citizens’ innovative skills key to Guyana unlocking oil potential – Professor Haynes

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As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens. Making this point during...
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Guyana government sets firm January 2026 deadlines for local content approvals

The Ministry of Natural Resources has announced a new fixed timeline for reviewing and approving local content certification applications....

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