News

ExxonMobil is forging ahead with its fibre optic cable installation activities at the Stabroek Block offshore Guyana this month, the Maritime Administration Department (MARAD) said in a notice. “This exercise is scheduled to conclude on October 10, 2021, and will...

SBM Offshore said Tuesday it has signed a Letter of Intent with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease and operate contract for FPSO Alexandre de Gusmão. The unit will be deployed at the Mero field in the...

This week marks one year since a new government was sworn into office in Guyana following a 5-month ordeal that threatened the South American country’s fragile democracy. The Guyana Elections Commission (GECOM) declared the opposition People’s Progressive Party Civic...

The new legislative framework for Guyana’s Natural Resources Fund (NRF) will be laid in the National Assembly before the end of the year, President Irfaan Ali said on Monday. After taking up office in August last year, the Ali administration...

Revenue from Guyana’s vast offshore hydrocarbon resources will be used to improve the prospects of the entire CARICOM region the country’s President, Dr. Irfaan Ali, affirmed on Monday in an address to the nation to mark his first year...

Even though Guyana is poised to receive billions of dollars in revenue from its massive offshore oil fields, the country’s economy will not be allowed to become dependent on this resource. Making this declaration on Monday was President Irfaan...

Oil field services company Schlumberger plans to upgrade its Fluids Laboratory in Guyana to improve overall efficiency and service delivery. This is according to an advertisement placed in the local press requesting the submission of Expressions of Interest (EoIs). The...

(S&P Global Platts) Crude oil futures fell in mid-morning trade in Asia on August 2 amid concerns over the resurgent spread of COVID-19, after the weekend brought a slew of reports of rising cases in China and parts of...

The hull for the Prosperity FPSO, Guyana’s 3rd oil production vessel, is complete and will enter the Keppel shipyard in Singapore following the sail away of the Liza Unity later this month. The Prosperity FPSO will be producing oil...

(Reuters) - Brazilian President Jair Bolsonaro said on Friday evening that state-controlled company Petroleo Brasileiro SA, known as Petrobras, has 3 billion reais ($575.5 million) to fund free LPG bottles to low-income people that cannot afford them. Liquified petroleum gas...