News

Panama and the Netherlands emerged as the top destinations for Guyana’s crude oil exports in the first quarter of 2025, each receiving 14 cargoes of approximately one million barrels.  This was derived using shipping data compiled from Guyana’s Maritime Administration...

Goldman Sachs has slashed its oil price forecasts, citing rising OPEC+ supply and recession risks. Reuters reported on April 4 that Brent crude is now forecasted to average US$69 per barrel in 2024, down 5.5%, while WTI is projected...

PARAMARIBO, SURINAME - The Eduard Alexander Gummels Airport (EAG) in Paramaribo, Suriname, was officially inaugurated on March 24, introducing new flight routes intended to enhance connectivity across the Guiana Shield. The airport will facilitate direct travel between Paramaribo, Georgetown...

If Guyana has its way in talks with the United States, recently announced tariffs on Guyanese exports would be reduced from 38% to 12%, OilNOW calculated.  Guyana’s Vice President Bharrat Jagdeo said on Thursday (April 3) that his government’s trade...

U.S. crude oil imports from Guyana surged to record levels in 2024, with January and February seeing the highest monthly volumes on record at 5.4 million and 6.6 million barrels, respectively.  This is according to data from the U.S....

bp Trinidad and Tobago (bpTT) confirmed on April 3 that its Cypre development has safely delivered its first gas. Cypre is one of bp’s 10 major projects scheduled to come online between 2025 and 2027 as part of its...

By Alana Nadir The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald Trump. Trump imposed tariffs on goods entering the country’s market, with the notable exclusion of energy products like oil, gas...

Italian engineering firm Saipem has been granted a Limited Notice to Proceed (LNTP) from ExxonMobil Guyana Limited for subsea structures, umbilicals, risers, and flowlines (SURF) work at the proposed Hammerhead oil field development in the Stabroek Block.  The project site...

Venezuela’s opposition has criticized the late President Hugo Chávez for abandoning the country’s territorial claim to Guyana’s Essequibo region.  “Hugo Chávez irresponsibly abandoned the active reclamation of the Essequibo for purely political reasons,” Edmundo González Urrutia, “President-Elect” of Venezuela and...

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great” in its 2025 economic forecast for Latin America and the Caribbean.  The ranking underscores Guyana’s exceptional economic expansion, driven by its...