News

CGX, Frontera stocks plunge after JV said it found more oil offshore Guyana

CGX Energy Inc. and Frontera Energy Corporation, partners in a joint venture (JV) operating the Corentyne acreage offshore Guyana, have experienced notable declines in their stock values. CGX’s TSE stock (OYL.V) plunged 60% from CA$0.92 on November 9 to CA$0.37...

10-12 wells planned for Stabroek block next year to unlock more resource growth – Chevron CEO

Chevron Corporation, now an indirect stakeholder at the Stabroek Block, recently informed the market that 10 to 12 wells are planned for this world-class concession next year. Given ExxonMobil’s past success with hitting back-to-back discoveries, Chevron’s Chief Executive Officer...

Petronas mulling development in Suriname block shared with ExxonMobil

A high-level delegation from Petronas recently convened discussions with the Suriname government to detail plans for a potential project at its offshore block 52.  A report from Barbados NationNews said that Petronas executives disclosed intentions to undertake further exploration drilling...

DOF secures contracts with Subsea7 and Maersk Supply Service 

DOF has secured substantial contracts in the maritime industry, with deals involving both Subsea7 and Maersk Supply Service. The company sealed a deal with Subsea7 for the time charter of the Skandi Acergy, a construction vessel boasting a 400-ton crane,...

Exxon CEO advocates against painting Big Oil as ‘villains’ for climate, emphasizes technology over supply reduction 

ExxonMobil Corp.'s Chief Executive Officer, Darren Woods, addressed concerns surrounding the portrayal of Big Oil as "villains" in the climate change narrative, warning that restricting fossil fuel supplies would impede progress towards achieving net zero emissions and perpetuate poverty...

Guyana planning for all outcomes of Venezuela referendum should it proceed

Guyana is preparing for all possibilities surrounding the December 3 referendum by Venezuela, its President, Irfaan Ali assured.  While Ali believes that Venezuela “would not act in a reckless way”, disregarding the orders of the International Court of Justice (ICJ),...

Rely only on official channels for information – Presi Ali urges as Venezuela takes controversy to social media 

The recent wave of posts on social media platforms regarding the Venezuela border controversy has prompted Guyana’s President Irfaan Ali to urge the public to rely only on information emerging from official channels in the government.  “I have seen a...

All U.S. sanctions “are on the table” if Venezuela reneges on agreement for free and fair elections 

The Biden administration has issued a stern warning to Venezuela, stating its intent to rescind recently granted licenses if President Nicolás Maduro fails to demonstrate a commitment to fairer elections by the close of November. Brian Nichols, the U.S. Assistant...

Exxon pursues lithium mining to supply electric vehicles

ExxonMobil is venturing into the lithium market to meet the growing demand for electric vehicles (EV). The company announced that it has started drilling its first lithium well in Arkansas, where it holds a large acreage of land with...

ABS recognizes Guyanese company with global accreditation

Pandora Energy Inc., a Guyanese manpower and recruitment firm, has recently achieved global recognition by obtaining the American Bureau of Shipping (ABS) accreditation. This confirms the company's compliance with the International Labor Organization (ILO) Maritime Labor Convention (MLC) 2006,...

Latest News

Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...