Wednesday, August 10, 2022

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Guyana’s President vows to align oil transformation with green agenda

Guyana’s President, David Granger, says his government is committed to ensuring that the transformation expected from the oil and gas industry is closely aligned with the country’s green development agenda. Addressing the opening of the 71st Sitting of the 11th Parliament...

Hess captures leadership status in CDP’s Global Climate Analysis

Hess Corporation (NYSE:HES) has been recognized for climate change stewardship, achieving leadership status in CDP’s 2017 Global Climate Analysis. Hess is the only U.S. energy company to achieve leadership status. This is the ninth consecutive year that Hess earned this...

U.S. withdraws from extractive industries anti-corruption effort

(Reuters) - The United States has withdrawn from the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in managing revenues from oil, gas and mineral extraction. EITI calls US withdrawal from the anti-corruption body “disappointing, backwards step” There...

Military chief urges soldiers to be vigilant against trans-border crime as O&G industry takes off

Chief of Staff of the Guyana Defence Force (GDF) Brigadier Patrick West is urging ranks to be vigilant and guard against new border threats which may emerge with the advent of the South American country’s oil and gas industry. This...

Exploratory wells in the Orinduik Block to cost around US$35M

The cost for exploratory wells in the Orinduik Block is expected to amount to approximately US$35M with Eco Atlantic’s participating interest anticipated to be around US$5.25 Million per well. The company has since entered into an option agreement on the block...

Regulator cuts UK oil and gas estimates

(BBC) The oil and gas offshore industry regulator has reduced its estimates of the amount of known oil and gas left under UK waters. The amount in known reserves and capable of extraction has dropped from 6.3 billion barrels to...

Oil production in Guyana could hit 400,000 bpd by 2026 – WoodMac

Industry analyst Wood Mackenzie believes oil production in Guyana could reach as high as 400,000 barrels per day by 2026 as multiple phases of development and production come on stream. Pablo Medina, Wood Mackenzie`s senior analyst, Latin America, said ExxonMobil’s fifth...

ExxonMobil Guyana issues warning about reported fraudulent activities

ExxonMobil and its Affiliate, Esso Exploration and Production Guyana Limited (EEPGL) on Tuesday issued a public advisory, alerting businesses and the public at large to the activities of persons and/or agencies falsely claiming to be representatives of ExxonMobil, and...

Exxon forged ahead despite Venezuela aggression, multiple risks – Persaud

In addition to the routine nature and types of risks involved in petroleum exploration and production, US super-major ExxonMobil was also faced with the prospect of aggression from Venezuela while it was searching offshore Guyana for oil. Writing in his...

Guyanese business group for Canada visit in November

A group of Guyanese private sector representatives will be travelling to the Canadian Province of Newfoundland and Labrador to explore business opportunities in the oil and gas and supporting sectors. This was disclosed by Canadian High Commissioner to Guyana, Lilian Chatterjee,...

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World’s fastest-growing economy moves to slash transportation costs, travel time with US$115M IDB loan

Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the...