News

The Guyana government is pushing for major expansion of exploration and development of its vast hydrocarbon resources offshore and said it will be doing so with the highest level of compliance and transparency. Natural Resources Minister, Vickram Bharrat said Wednesday...

Even as world leaders make big commitments to transition to renewable energy so as to achieve net-zero emissions by 2050, oil will still be needed along the way to meet global needs. During his company’s 2021 Q2 Earnings call,...

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of US$73 million, or US$0.24 per common share, in the second quarter of 2021. This represents...

ExxonMobil announced on Wednesday that it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the...

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs), and Fast Support Vessels (FSVs) for offshore activity in the new oil producing South American...

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore base at Foreshore, Plantation Best on the West Bank of Demerara. The intended development will fill...

SBM Offshore announced on Tuesday that The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. The...

Authorities in Guyana remain steadfast on bringing on stream the Petroleum Commission and Local Content Policy, two crucial elements of Guyana’s regulatory framework for the oil and gas industry. This was recently highlighted by Minister of Natural Resources, Vickram...

The economic transition being forecast for Guyana is bringing with it significant prospects and women entrepreneurs in the new oil producing country are determined to ensure they are well positioned to benefit from these opportunities. The Women’s Chamber of Commerce...

Oilfield Services Company Schlumberger says its performance in the second quarter of 2021 marks a leap forward in achieving its full-year financial targets with the potential for further upside given the right conditions. Second-quarter global revenue grew 8% sequentially, outperforming...