News

Guyana has reported a 64% increase in foreign direct investment (FDI) for 2023, showcasing the nation’s rising influence on the global energy stage. The 2024 edition of the Economic Commission for Latin America and the Caribbean (ECLAC) “Foreign Direct Investment...

ExxonMobil Guyana today announced the launch of its “Is We Own Again” promotion in collaboration with the Guyana Amazon Warriors. The promo runs from August 10 to September 27, 2024, the company said in a statement.  “Supporting sport and national...

SBM Offshore posted strong financial performance in the first half of 2024, with directional revenue increasing to US$1,840 million - a 23% increase compared to the same period last year. Directional Turnkey revenue rose to US$662 million compared to US$558...

The model is now completed for Silica City, Guyana’s first smart and sustainable city project. This is according to President of the new oil producing South American country, Dr. Mohamed Irfaan Ali. “We are well on the journey of delivering...

MODEC is offering two exclusive opportunities for final-year students, recent graduates, and young professionals eager to break into Guyana’s oil and gas industry. For final-year students, MODEC presents a 1-year paid internship program.  It said this opportunity allows three interns to...

PETRONAS said it achieved success with the drilling of the Sloanea-2 appraisal well at Block 52 offshore Suriname. The company said Sloanea-2 was spudded in the second quarter with the Noble Voyager. It is an appraisal of the Sloanea-1 gas...

As Suriname awaits a final investment decision (FID) from TotalEnergies on the country’s first-ever oil development, an expert on risk says the fiscal part of this story has impeded the process.  Ford Tanner, Associate Director with the Exploration and Production...

Guyana has become the bedrock of ExxonMobil’s post-COVID corporate revival, an Aug 1 piece by Bloomberg’s Kevin Crowley outlined.  The Texas oil giant is the operator with a 45% stake in the Stabroek Block, a vast oil field spanning 6.6...

Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block off Suriname to Hess Corp, Reuters reported on Wednesday. This move signifies Equinor's exit from the South American country, aligning with its strategy to...

The Trinidad and Tobago (T&T) Extractive Industries Transparency Initiative (TTEITI) has projected that declining oil and gas revenues would negatively impact the country's social programs in the leadup to 2033. In a July 30 report titled ‘How Will the Decline...