News

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement, according to the Ministry of Natural Resources. The Stabroek Block, spanning 26,800 square kilometers, is the centerpiece of Guyana’s deepwater oil...

Halliburton has secured significant offshore exploration contracts in Suriname, strengthening its international footprint despite a revenue decline in the first quarter. Chairman, President and Chief Executive Officer, Jeff Miller, said, “Customers awarded Halliburton several contracts that demonstrate the strength of...

Deepwater exploration is the final frontier for discovering the oil and gas needed to fuel the global energy transition, according to GeoExpro, a global energy magazine. “This is the hope that keeps us here,” a recent GeoExpro report explained, noting...

ExxonMobil Guyana Limited has officially moved into its cutting-edge, net-zero emissions complex located in Ogle on Guyana’s East Coast, marking a new chapter in its local operations. Exxon’s Guyana Manager for Public & Government Affairs Matthew Scharf confirmed the move...

Guyana’s government may collect less oil revenue in 2025 than it initially projected, following the International Monetary Fund’s (IMF) downward revision of global crude price assumptions. However, an earlier-than-expected start to production at the massive Yellowtail project could still...

Baker Hughes announced strong first-quarter results, driven by “record orders and major contract wins. The company released its 2025 quarter report on April 22, revealing that it has secured a significant award from ExxonMobil Guyana. It will supply specialty chemicals...

In 2024, a third of MODEC's total revenue came from its operations in Guyana, as the company gears up to supply a large floating production, storage and offloading (FPSO) vessel to the Stabroek Block next year. In its annual report,...

Guyana is expected to be one of just two countries in the world to post double-digit economic growth in 2025, according to the International Monetary Fund’s (IMF) April World Economic Outlook.  The forecast, released under the theme A Critical Juncture...

Trinidad and Tobago and the United States have committed to working together to ensure the Caribbean country’s energy future, a recent statement from the U.S. State Department said.  Trinidad media reported over the weekend that Prime Minister Stuart Young has...

Brazil’s majority state-owned multinational corporation, Petrobras, has confirmed that the Equatorial Margin may hold more than 30 billion barrels of oil, citing recent estimates from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP). According to Petrobras, this volume...