Italian oil and gas company Eni has divested a 10% stake in oilfield services provider Saipem for €393 million (US$422.48 million). The sale was conducted via an accelerated bookbuilding process on June 11, 2024, with the transaction set to...
Vice President Bharrat Jagdeo has warned that the Guyanese government will be implementing stronger penalties for companies engaging in ‘fronting’ to circumvent the Local Content Act (LCA), which will be amended soon.
‘Fronting’ or ‘rent-a-citizen’ is a phenomenon that has...
Norwegian seismic firms TGS and PGS have secured final regulatory approval for their merger, forming a premier energy data company.
The UK Competition and Markets Authority (CMA) granted the last needed approval, following the Norwegian authority's clearance in April 2024.
"TGS...
The Export-Import Bank of the United States (EXIM) may consider final approval of a loan to Guyana, valued at approximately US$646 million. The loan is meant to support the Gas-to-Energy project, a landmark venture the Guyana government hopes will...
Guyana's Vice President Bharrat Jagdeo says a range of tougher penalties and sanctions will be introduced for persons caught smuggling large quantities of gold. This follows an expose by the United States, of gold smuggling, tax evasion and corruption...
Saipem and CNOOC are set to hold separate meetings with Guyanese businesses in June.
Saipem’s meeting is an information session for businesses to understand their contractual obligations. It is scheduled for June 20, at 10:00 am. Registration is active, with...
Oil is leaking from the Gulfstream barge that capsized off the coast of Tobago, authorities there announced on Wednesday. An emergency meeting confirmed reports of “large hydrocarbon deposits drifting away from the Gulfstream vessel near Cove,” a release from...
A looming glut in global oil supply could “upend” OPEC+ attempts to prop up prices by cutting production, according to the International Energy Agency (IEA).
The Paris-based IEA said Wednesday in a new report that growth in global oil production,...
Women in Energy Guyana is set to host the groundbreaking "Championing Women in the Energy Sector: Creating Pathways Guyana FORUM" this Saturday, June 15, 2024, from 9:00 am to 2:00 pm at the Arthur Chung Conference Centre in Georgetown....
Guyana’s Natural Resource Fund (NRF) received inflows of US$267 million (approximately GY$56 billion) from oil sales in May, the Bank of Guyana revealed.
The Guyana government expects US$2.08 billion in revenues from oil sales this year, with over US$974 million...
