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Guyanese Achieving Together Enterprises (GATE), a consortium of local catering and food service operators, has purchased a substantial equity stake in Newrest Guyana, the country's premier offshore caterer and food supplier to the oil and gas sector. This acquisition comes...

The World Bank has announced the elevation of Guyana's status to a high-income country, a milestone in the South American nation's economic journey. This update comes along with several other countries having their statuses adjusted in the latest annual...

Stranded assets, a prevalent concern in regions heavily dependent on fossil fuels, are essentially investments that may never yield returns due to shifts in the market, typically driven by environmental considerations and the burgeoning clean energy revolution. While many...

Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic...

Australian-based Woodside Energy Group has handed back a deepwater block to the government of Trinidad and Tobago, following an appraisal that deemed its development financially unsound, according to a company representative on Wednesday. Reuters broke the story of the...

ExxonMobil Corporation announced that it has reached a definitive agreement to acquire Denbury Inc., a renowned developer of carbon capture and storage (CCS) solutions and enhanced oil recovery. The all-stock transaction is valued at US$4.9 billion.  The acquisition aligns with...

Having significant hydrocarbon reserves certainly will get energy companies’ attention, but holding the companies’ interest — and convincing them to continue investing billions of dollars in exploration and production activities — requires deliberate, strategic measures on the part of...

To develop Suriname’s offshore oil potential, a higher level of financing is required and its state-owned company Staatsolie is readying itself to ensure it is prepared. Outlined in its updated 2022 Annual Report, Staatsolie said it has amended and extended...

Guyana’s Local Content Act - implemented in 2021 - has enabled significant investment in small and medium-scale logistics and transportation enterprises to service the expanding oil sector.  During a virtual discussion on investment opportunities in Guyana and Ghana, Senior Petroleum...

Guyana’s President Dr. Mohamed Irfaan Ali said the government projects revenues from oil will amount to US$10 billion annually by the end of the decade.  “Our Natural Resource Fund is growing and we are looking to the modernisation of our...