News

ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the estimated gross recoverable resource for...

(Reuters) State oil giant Saudi Aramco plans to increase security around its offshore facilities and has received bids for the work from defense firms, industry sources told Reuters. Bidders include Raytheon Co of the United States, Germany's Rheinmetall AG, Leonardo's...

The Guyana government says it remains committed to doing what is best for the country's emerging oil and gas industry and will continue to pursue measures that allow for transparency in the sector. Speaking at a public meeting of the...

As US officials remain divided on the exact measures that should be taken against Venezuela should a July 30 vote that could strip lawmakers of their constitutional power, goes through, one Senator is warning that a ban on Venezuelan...

The Extractive Industry Transparency Initiative (EITI) requires that all implementing countries, one of which Guyana hopes to soon become, provide a comprehensive reconciliation of company payments and government revenues from the extractive industries. EITI believes an understanding of company...

Widespread consultations on the creation of a Sovereign Wealth Fund (SWF) and ensuring that the fund is insulated from political interference are two areas that US Ambassador to Guyana, Perry Holloway, pointed to when creating a fund that works...

On Friday Guyana's Minister of Natural Resources, Raphael Trotman and members of the media were given a tour of the Muneshwer onshore facility; Guyana Shore Base Inc. (GYBSI) located at Houston, Georgetown, Guyana. GYBSI is a consortium of companies which...

Guyana is continuing to receive support from international organizations in the development of policies to successfully manage the emerging Oil and Gas sector, with the recent assistance coming from the International Monetary Fund. The IMF has been in the South...

As Guyana seems well on its way to becoming the 53rd country in the world to attain Extractive Industry Transparency Initiative (EITI) candidacy, a leading adviser supporting this process says implementing countries are now required to do much more in...

ExxonMobil said Thursday it has launched a legal challenge to a finding by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions against Russia in 2014 when the company followed authoritative and specific guidance from...