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Counter appeal filed in oil spill insurance case

Civil Society Activist and Head of Transparency Institute Guyana Inc. (TIGI), Frederick Collins filed an objection on May 11 in Guyana's Appellate Court against an appeal by the Environmental Protection Agency (EPA). His objection is intended to block the EPA's...

Exxon integrating technology, project management capabilities to grow unique Guyana asset at an industry-leading pace

ExxonMobil Corporation’s Senior Vice President & Chief Financial Officer (CFO), Kathy Mikells recently disclosed that the American multinational is deploying its best technologies and project management capabilities to grow Guyana’s unique assets at an industry leading pace. Speaking to shareholders...

SBM Offshore orders 8th Fast4Ward® Multi-Purpose Floater hull

Dutch contractor, SBM Offshore’s full-year guidance remains on track after good performance in the first quarter of 2023.  Its report released on May 11, noted that the company has upped its Lease and Operate revenue to US$453 million - a...

MODEC to supply fully electrified FPSO to Brazil for Equinor’s Campos basin cluster

MODEC has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltd, a subsidiary of Equinor ASA, to provide a fully electrified Floating Production, Storage and Offloading (FPSO) vessel for the Pao de Acucar, Seat & Gavea...

EPA consulted multiple established jurisdictions to determine guarantee from Exxon

Guyana’s Environmental Protection Agency (EPA) has come out in defense of its decision to appeal a Supreme Court ruling related to the provision of financial assurance from ExxonMobil in the unlikely event of an oil spill due to Stabroek...

Remembering the Basics: Easy Wins for a Sustainable Energy Future in Guyana (Part 1)

By Dr. Ulric Trotz One of Guyana’s Low Carbon Development Strategy (LCDS) objectives is transforming the country’s energy sector as part of our overall effort to achieve a low-carbon economy. Focus has been on employing a mix of approaches involving...

Guyana not a backwater country, must not engage in economic nationalism – Jagdeo

The Guyana government is facing criticisms of its management of the oil sector, including accusations of anti-nationalism, hot on the heels of an upset judgment by the Supreme Court. Justice Sandil Kissoon said ExxonMobil affiliate, Esso Exploration and Production...

Local logistics company supporting Guyana’s GtE project

Demerara Integrated Logistics Inc. has delivered a second vessel to support ExxonMobil’s operations offshore Guyana - this time, for the Gas-to-Energy (GtE) project.  The latest vessel to be delivered - Knockout P - a DP2 platform supply vessel (PSV) will...

Despite 19% drop in profits, Saudi Aramco remains world’s second-largest company after displacing Microsoft

Saudi Aramco, the world’s largest oil exporter, has announced its first-quarter 2023 net profit of US$31.88 billion, beating analysts’ expectations. Although the figures represent a 19% drop from the corresponding period in 2022, the company has exceeded market expectations...

ExxonMobil to provide Guyana with “real-time” access to Uaru production data/reports

ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) has agreed to provide Guyana with real-time access to data pertaining to the Uaru Development Project. The level of compliance expected by Guyanese regulators is explicitly...

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Payara crude holds slight price premium over other Stabroek Block grades

Payara Gold crude from ExxonMobil’s third Guyana oil development has consistently traded at a marginal premium to its other...