News

Guyana has finalized its new model Production Sharing Agreement (PSA) with no changes to the fiscal terms introduced on March 14 during the country’s first oil blocks licensing round. The new PSA, which mandates a 10% royalty rate and...

The International Energy Agency (IEA) says despite the marked slowdown in Chinese oil demand growth, OPEC+ has yet to call time on its plan to gradually unwind voluntary production cuts starting in the fourth quarter of this year. However,...

Halliburton Guyana Inc. has issued an Expression of Interest (EOI) for the provision of drilling chemicals.  According to the public EOI, the chemicals - calcium chloride, hydrated lime, soda ash and mono ethylene glycol - must comply with the “quality...

Guyana Shore Base Inc. (GYSBI), in partnership with Muneshwers Limited and its Joint Venture partners, will host a comprehensive career fair on Saturday, August 24th, 2024, at the Everest Cricket Club, Camp Road, Georgetown, from 09:00 hrs to 16:00...

Guyana is preparing to submit reports as part of its obligations to the Extractive Industries Transparency Initiative (EITI) in the coming months.  Minister of Natural Resources, Vickram Bharrat, explained during an August 14 press conference that the 2022 and 2023...

Petrobras, Brazil's state-owned energy giant, has raised its capital expenditure (CAPEX) projection for 2024, reflecting increased investments in oil and gas exploration and production (E&P).  After reporting a US$6.4 billion capex in Q1 2024—12.5% higher than the previous year—Petrobras has...

Labor scarcity in Guyana’s market is a known issue, especially in the oil and gas sector.  Currently, technicians, engineers and maritime positions are the “most difficult” to fill, according to data from a 2023 labor assessment study. An excerpt was...

Guyana’s Ministry of Natural Resources has shortlisted seven companies for consideration to conduct a seismic study offshore.  Minister of Natural Resources, Vickram Bharrat, told reporters at an August 14 press conference that around eight companies submitted or expressed interest. "We...

Guyana’s next Stabroek Block development could potentially be ExxonMobil’s Longtail discovery, Vickram Bharrat, the country’s Minister of Natural Resources said. “They are already moving ahead with Hammerhead, and we have heard talks that Longtail will come after that,” he said. The...

Guyana's Minister of Natural Resources, Vickram Bharrat, said the government is on track to issue a contract award in September for the audit of Stabroek Block expenses for the period 2021-2023.  “We’re looking at the same model where we can...