News

A heightened tourist footprint in Guyana, a new oil producer and the world’s fastest-growing economy, is pushing the South American nation’s hospitality industry further. By 2025, the Sheraton Hotel and Resort brand will be present in Guyana. Marriott International Inc. –...

With any oil production operation, oil spills are a risk, though the probability is very minimal once strict safeguards are implemented. And though Guyana is new to the oil-producing scene, the small South American nation has taken steps to boost its development of an...

Not long after the Irfaan Ali administration assumed office in 2020, CGX Energy was granted an extension to its deadline to drill a well on the Corentyne block offshore Guyana. While it looks like CGX may need another extension – this...

In 2010, developed countries committed to jointly mobilise US$100 billion annually in climate finance by 2020 to support developing countries in reducing emissions and adapting to climate change. However, as the globe celebrated World Environment Day on Sunday, Guyana’s...

While many of its industry counterparts have been hard hit by the inflation that has resulted from the war in Ukraine and the COVID-19 pandemic, Hess Corporation which has a 30% working interest in the Stabroek Block was pleased...

Hess Corporation’s Chief Executive Officer (CEO), John Hess has lauded the Guyana government for being pro-business, and accelerating investments so that oil revenues can be used to lift the nation’s standard of living. But equally important for Hess and its...

As a result of high oil prices driven by the Russia-Ukraine war, territories such as the United Kingdom and Canada have implemented a windfall tax on oil companies. This tax, which is applied to the profits oil companies gain...

The government of Trinidad and Tobago is finalising a commercial agreement for the 112.2-megawatt (MW) Project Lara, a joint venture comprising of multinational energy giants, Shell and BP, and specialist solar energy company, Lightsource BP. Two sites have been identified...

Italian energy services company and ExxonMobil subcontractor, Saipem, said on Wednesday it has agreed to sell its drilling onshore business to British-based oil drilling contractor KCA Deutag (KCAD) for $550 million to focus efforts on building out its offshore operations. Saipem’s onshore drilling business operates globally outside...

Today, Guyana joins the globe in celebrating World Environment Day 2022. This year’s campaign “Only One Earth” calls for collective, transformative action on a global scale to celebrate, protect and restore the planet. For many countries restoring the planet will prove...