News

Guyana produced 142.9 million barrels of oil from the ExxonMobil-operated Stabroek Block in 2023, reported its Finance Minister, Dr. Ashni Singh. This tops 101.3 million barrels produced in 2022. Singh, presenting the third oil fund-backed national budget shared that Guyana’s...

Guyana’s Natural Resource Fund closed 2023 with US$1.97 billion (approximately GY$411.47 billion) according to a Bank of Guyana report published on Jan. 15.  The Fund received payment for one lift of profit oil in December, amounting to US$85.4 million (approximately...

Felipe Perez, Head of Latin America Fuels and Refining at S&P Global, has pointed out that the coming online of the Dangote refinery in Nigeria, could create a “big hole” in the market for Guyana’s growing crude output to...

Guyanese authorities have expressed an interest in tapping India’s expertise to help continue the buildout of a world-class regulatory framework for the oil sector. Vice President Dr. Bharrat Jagdeo said this is likely, given that it is one of...

The government of Newfoundland and Labrador has announced its consideration of selling stakes in the province's offshore oil industry, revealing plans to move forward with phase three of the comprehensive review of current oil and gas interests. The government is...

The National Petroleum Corporation of Namibia (NAMCOR) announced a substantial oil discovery in Block 2813A (PEL83), Orange basin, offshore Namibia. NAMCOR, with a 10% carried interest, collaborated with partners Galp Energia (80%, operator) and Custos (10%) in the successful...

Guyana's Ministry of Natural Resources has announced a request for proposals (RFP) from private companies for the design, finance, construction, and operation of essential gas infrastructure to support offshore developments in the South American nation. This initiative is part...

The value created by GACIO’s US$30 million marine facility on the West Bank of Demerara was enormous, said Guyana President Irfaan Ali at the commissioning ceremony on Jan. 13.  Ali delivered the feature address at the event and said the...

Stena Drilling recently announced on LinkedIn that the Stena Carron, a dynamically positioned, harsh environment, ultra-deepwater drillship, has departed Guyana for Las Palmas, Spain. The vessel will undergo a Special Periodic Survey (SPS) in Spain. The SPS is a...

Trinidad-based independent exploration and production (E&P) company, Trinity Exploration & Production has disclosed operational developments for the three months ending December 31, 2023 (Q4 2023).  The company detailed ongoing operations at the Jacobin-1 well, emphasizing safety measures and addressing challenges...