News

Touchstone Exploration Inc. announced that its Trinidadian subsidiary, Primera Oil and Gas Limited (POGL), has entered into Exploration and Production (Public Petroleum Rights) Licences for the Cipero and Charuma blocks. These licenses became effective on July 1, 2024. The Cipero...

Guyana is quickly moving up the rankings of the World Bank’s high-income economies. After joining the high-income group last year, the country jumped four places to 63rd based on 2023 growth. The ranking is based on the Bank’s calculation of...

A federal judge halted President Joe Biden’s temporary moratorium on new licenses for exports of US liquefied natural gas (LNG). The decision by US District Judge James D. Cain Jr. in Louisiana, issued Monday, responds to a lawsuit filed...

The Greater Guyana Initiative (GGI) has put out a call for new proposals aimed at advancing strategic capacity development across the South American nation.  Backed by a substantial US$100 million (GY$20 billion) investment from ExxonMobil Guyana Limited, Hess Guyana Exploration...

Oil production offshore Guyana is generating over US$1.5 billion a month, ExxonMobil Guyana Vice President, Philip Rietema said.  “Today, we’re producing over 600,000 barrels a day and oil produced is revenue produced, is revenue to be shared among the people...

A recent International Energy Agency (IEA) report revealed that global oil demand is set to decelerate as the energy transition gains momentum. However, Guyana’s oil and gas sector will continue its rapid expansion. Last year, President Irfaan Ali emphasized...

The procurement process for the Linden utility-scale solar project in Guyana is advancing, President Irfaan Ali announced at a press conference on June 20. This development is part of a broader US$83.3 million initiative under the Guyana Utility-Scale Photovoltaic Programme...

The Stabroek Block partners’ investments in Guyana’s petroleum sector are paying off with US$6.3 billion (approx. GY$1.3 trillion) in combined profits reported for 2023. Their profits grew 12% from the prior year. This is based on a consolidation of...

SLB has secured a contract from Equinor for the front-end engineering design (FEED) of a 12-well, all-electric Subsea Production Systems (SPS) project in the Fram Sør field, offshore Norway. The project aims to fast-track the global adoption of electric...

Oil production at ExxonMobil’s Guyana projects hit a combined 19.6 million barrels in May, the highest monthly volume yet, government data shows. In May, the Liza 1 project averaged 154,000 barrels per day (b/d), totaling 4.78 million barrels. This project...