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Fossil fuels continue to meet more than 80% of the world's energy needs despite a continued record growth rate of renewable energy in the wake of the COVID-19 pandemic, according to data compiled by the UK-based Energy Institute. Global primary...

A.P. Moller - Maersk, a global leader in container shipping, has announced the order of six mid-sized container vessels equipped with dual-fuel engines capable of operating on green methanol. The order was placed with Yangzijiang Shipbuilding Group, and the...

Guyana's Ministry of Natural Resources said in a statement on Wednesday that further evaluation will determine the potential commercial viability of the Wei-1 discovery in the Corentyne Block. While CGX Energy Incorporated and Frontera Energy Corporation have made significant...

By Tash Van Doimen & Dr. Terrence Blackman - OilNOW The Guyana Business Journal and the Caribbean Policy Consortium recently premiered Season II, Episode I of their webinar series, "Transforming Guyana." This episode delved into the critical topic of revenue...

CGX Energy Inc. and Frontera Energy Corporation announced on Wednesday an oil discovery at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore Guyana. The Joint Venture said it has successfully finished drilling operations without any safety...

Development drilling activities in the Stabroek Block have increased as operator ExxonMobil Guyana gears up to commission the Prosperity floating production, storage, and offloading (FPSO) vessel.  According to the Maritime Administration Department (MARAD), the PY_1i2 Well Site is located approximately...

Capricorn Energy PLC, an oil and gas exploration company, has announced its decision to divest its Suriname asset as it shifts its focus towards Egypt.  Capricorn currently operates Block 61, located in the Guyana-Suriname basin, where significant discoveries have been...

Guyana Vice President Dr. Bharrat Jagdeo recently explained that the government does not want oil companies to sit on blocks for years without executing their work commitments. This has informed proposed changes to the country’s oil law.  Among the mechanisms...

Saipem has secured two significant offshore drilling contracts worth a combined total of approximately US$550 million. These contracts were awarded in the Middle East and the Mediterranean Sea. In the Middle East, Saipem has obtained a ten-year extension to an...

The Organisation of Petroleum Exporting Countries (OPEC) on June 27 said that it has not invited South America’s newest oil producer - Guyana to become a member, contrary to a Wall Street Journal report.  “In view of recent reports about...