News

Guyana’s Central Bank said in a statutory report that the Natural Resource Fund (NRF) closed 2022 with US$1.42 billion (GY$297.38 billion). This revises an earlier statement from the Ministry of Finance that the Fund closed the year with US$1.27 billion....

Bids were submitted for eight out of 11 of Trinidad and Tobago’s onshore and nearshore blocks, which were put up for auction in 2022. The Ministry of Energy and Energy Industries closed the auction on Monday, January 9 indicating that...

The 2023 national budget to be presented by the Guyana government on Monday has just been given a boost of US$150 million by Stabroek Block co-venturer, Hess Corporation. Guyana has received its first payment for carbon credits under its agreement...

ExxonMobil’s Ranger find in the Stabroek Block is in a league of its own. A wildcat, the Ranger-1 well is in an area with different geology when compared to other fields where Exxon and its partners have hit the jackpot...

With Guyana and Suriname sharing a close border, either country can face devastating effects should an oil spill occur on either side. Considering this, APA Corporation is mulling a cross-border communication protocol with Guyana to prepare for such an...

ExxonMobil’s third development project in Guyana’s offshore Stabroek Block – Payara is almost complete and remains on track for its early 2023 start-up. Hess’ Chief Executive Officer, John Hess said the project is around 93% complete. It will take the Stabroek...

With Guyana’s natural gas reserves pegged at around 16 trillion cubic feet (Tcf), Chief Executive Officer (CEO) of Trinidad and Tobago’s Energy Chamber, Dr. Dax Driver believes that converting it to electricity is the “most logical” avenue at this...

ExxonMobil’s proposed Uaru development project is now estimated to cost US$12.683 billion (GY$2.638 trillion). This is stated in the Environmental Impact Assessment (EIA) for the project, compiled by Acorn International. The new cost reflects the impact of inflationary pressures...

Competition between frontier and early-stage producers has become more intense as exploration companies focus on fewer basins in response to budget discipline. Explorers are also keen on delivering rapid results to bring hydrocarbons to market as the energy transition...

S&P Global expects the Amatuk prospect in the Orinduik Block to be the exploration target of Tullow Oil in 2023. The analyst firm named Amatuk in its high impact well (HIW) drilling outlook for 2023, alongside CGX’s Wei-1 well...