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Oil price jumps have led to a recent public spat between the International Energy Agency (IEA) and oil group Organisation of Petroleum Exporting Countries (OPEC).  OPEC lashed out at IEA after its Executive Director Fatih Birol in a Bloomberg interview...

Guyana’s Ministry of Natural Resources (MNR) announced approval of the Uaru Field Development Plan and the issuance of the Uaru Petroleum Production License, on April 28.  Hess Corporation, a 30% stakeholder in the project, said it made a final investment...

ExxonMobil Corporation announced first-quarter 2023 earnings of US$11.4 billion, or US$2.79 per share assuming dilution - a drop from US$12.8 billion in the last quarter. The result aligned with its Securities and Exchange Commission (SEC) 8-K filings, triggered by...

With regulatory approvals granted for Exxon’s fifth Guyana development - Uaru, next up on the list is number six - Whiptail.   This development is expected to tap Exxon’s Whiptail, Pinktail and Tilapia discoveries, taking production offshore the South American country...

Hess Corporation said on April 26 that the Kokwari-1 exploration well in the Stabroek Block offshore Guyana did not encounter commercial quantities of hydrocarbons. Hess’ Chief Operating Officer (COO), Greg Hill noted that Kokwari was a higher-risk carbonate play that...

ExxonMobil Guyana announced on Thursday that it has made a final investment decision (FID) on the Uaru development, its fifth such project offshore the South American country. Exxon is the operator of the Stabroek Block, where the project will...

Guyana's Environmental Protection Agency (EPA) moments ago approved ExxonMobil's fifth Stabroek Block development, Uaru. This will take production above one million barrels per day. The new permit has these key updates as noted in the EPA's release: Flaring Like its predecessors,...

By Wilberne Persaud Dashan Hendricks, Jamaica Observer’s Business Content Manager, sought Economist Damien King’s opinion on Guyana’s development prospects based on windfall oil and gas returns. The March 17, 2023 result: “‘Mark my words’… King fears resource curse could...

Guyana’s extension to its maiden licensing round presents a window of opportunity for its cyber security to be strengthened.  This is according to Riyad Insanally, former Ambassador of Guyana to the United States.  His comments, captured in the recent edition of...

American oil producer Hess Corporation disclosed on April 26 that it earned net income of US$346 million, or US$1.13 per share, in the first quarter of 2023, compared with net income of US$417 million, or US$1.34 per share, in...