The Guyana government projects crude oil will account for 89% of its exports in 2025, as oil continues to grow at a faster pace than other export-focused sectors. It represented 68% of exports in 2021 and has subsequently held...
Stena Drilling has been awarded a contract by TotalEnergies to drill a well in Suriname, the Aberdeen-based company announced on Wednesday.
The Stena Drillmax will begin operations in Suriname in the second quarter of 2025 under a one-well program, with...
Guyana’s Natural Resource Fund (NRF) earned US$141 million (GY$29.5 billion) in interest income in 2024, according to the government. This represents a 63% increase from the approximately US$87 million (GY$18.1 billion) earned in 2023.
The Fund, which holds Guyana’s revenue...
The Amaila Falls Hydropower Project, long regarded as a flagship initiative in Guyana’s transition to clean energy, has been postponed to 2029 as the country prioritizes its Gas-to-Energy (GtE) development to address increasing power demand.
This was confirmed by the...
Hess Corporation reported a net income of US$542 million, or US$1.76 per share, for the fourth quarter of 2024, up from US$413 million, or US$1.34 per share, in the same period of 2023.
On an adjusted basis, net income stood...
SLB, a global leader in energy technology, has issued a request for information (RFI) to identify qualified suppliers for inspection and testing services in Guyana.
The company is seeking providers capable of conducting visual inspections, connection inspections, liquid penetration inspections,...
Guyana’s approach to Production Sharing Agreements (PSAs) has been a key factor in its rapid oil sector development, despite public criticism, according to Janelle Persaud, Founder of Cacique Consulting.
“The PSA framework enabled the pace of development we see today,”...
Guyana has emerged as the key driver behind the Caribbean's export resurgence, with its oil sector leading with a notable 59.6% growth in 2024, according to the latest trade trends report from the Inter-American Development Bank (IDB).
This surge positions...
Paramaribo, Suriname - Predictability and stability are key elements of the investment climate in a country, particularly when companies are looking to plug billions into projects with long-term returns. As TotalEnergies prepares to invest US$10.5 billion into Suriname’s Gran...
Paramaribo, Suriname - Surinamese President Chandrikapersad Santokhi, addressing the Suriname Awareness Symposium on Monday, called for unity, economic diversification, and sustainable development as the nation prepares for significant oil and gas revenues.
Santokhi stressed that collaboration is vital for Suriname’s...
