Tuesday, December 6, 2022

News

All agreements, policies for Gas-to-Energy project will be provided to Parliament, says Bharrat

Guyana's Natural Resources Minister, Vickram Bharrat has assured that the National Assembly will be furnished with all agreements signed for the US$2.2 billion Gas-to-Energy (GTE) project. Mr. Bharrat provided this assurance as part of a written response to a question...

As blockbuster profits rise in Guyana, ExxonMobil moves to close shop in Equatorial Guinea

ExxonMobil Corporation is reportedly planning to wind down oil production in Equatorial Guinea and close shop after its licence expires in 2026. According to a Reuters report, Exxon has cut production in Equatorial Guinea to less than 15,000 barrels...

CGX secures two more years with the Kawa-1 discovery area

Chief Executive Officer of Frontera Energy, Orlando Cabrales, said Thursday that the Corentyne Block joint venture (JV) – CGX Energy and Frontera – filed a notice of potential commercial interest in recent months with the Guyana government for the...

Hess first oil company to enter three-quarter billion USD carbon credits deal with Guyana

Stabroek Block stakeholder, Hess Corporation, has committed to purchasing US$750 million in carbon credits from Guyana, kicking off a major low-carbon initiative by the government, to generate revenue from forest conservation. An event to commemorate the agreement was held at...

Oil producer Guyana is first country in the world to be issued jurisdictional carbon credits

The Architecture for REDD+ Transactions (ART) has issued the world’s first TREES credits to Guyana, it announced Thursday. It said this marks a milestone, making Guyana the first country in the world to be issued carbon credits specifically designed for...

Local Content Advisory Committee pending opposition nominee – Bharrat

Natural Resources Minister, Vickram Bharrat, has informed the National Assembly that the government is awaiting a nominee from the political opposition to move ahead with the establishment of a Local Content Advisory Committee. His comment was a direct response to a...

ADNOC invests US$150 billion to boost reserves

Abu Dhabi National Oil Company (ADNOC), one of the world’s leading energy producers, says it will spend a whopping US$150 billion to boost reserves over the next five years to meet the world’s growing energy needs. The massive budget was approved on...

SBM Offshore engaging students on its operations, career opportunities

SBM Offshore met with fourth and fifth form students at the Corentyne Comprehensive High School in Berbice last Friday to apprise them of the company’s role in Guyana’s oil sector, and the careers available in the industry. This is the...

India, Guyana discuss cooperation on oil, trade & food security

Representatives from Guyana and India engaged in discussions this week to deepen bilateral relations in several sectors, namely oil, trade, and food security. These talks, held in Georgetown, marked the fourth round of Foreign Office Consultations between the two. India was represented...

CGX, Frontera say Corentyne license in ‘good standing’ with Guyana government

The Corentyne Block co-venturers, CGX Energy and Frontera Energy, insisted Thursday that their license is in good standing with the government of Guyana. This defense of the license came as news circulated that Guyana’s new model production sharing agreement (PSA) would include safeguards...

Latest News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking...