News

Venezuela has made a submission to the International Court of Justice (ICJ) in its border case with Guyana. The submission is its counter-memorial on the merits of the case concerning the Arbitral Award of 3 October 1899 (Guyana v....

Guyana remains steadfast in its vigilance as Venezuela persists in its aggressive stance, asserting claims to two-thirds of Guyanese territory, particularly the Essequibo region, following a recent referendum. Bharrat Jagdeo, Vice President, reiterated this commitment during a press conference...

Blue Water said it has successfully secured a substantial logistics contract with Yinson Production (YP), an independent owner and operator of floating production, storage and offloading vessels (FPSO) worldwide. Blue Water's Floating Productions Systems (FPS) project team will oversee...

Shell has released projections for its first-quarter 2024, indicating an expected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$1.9 billion. The figures, however, are subject to change pending finalization and are set to be officially disclosed...

Growing offshore activity has seen Guyana’s shore base capacity expand considerably since 2020. The Ministry of Public Works told OilNOW approval was given for eight projects over this period.  Among the greenlit projects was the expansion works at the Guyana...

In the first quarter of 2024, inflows into Guyana's Natural Resource Fund (NRF) have been substantial, at US$604 million (approx. GY$126 billion), according to a gazetted notice from the government of Guyana.  The contributions to the NRF are detailed as...

Exxon Mobil (XOM.N) anticipates a decline in its first-quarter operating results. The company said this will be due to weakened oil and gas prices, along with significant losses in fuel derivatives, as indicated by a securities filing on Wednesday. The...

U.S. Senator Rick Scott has issued a stern demand for immediate action from President Joe Biden to reimpose sanctions on Venezuelan President Nicolás Maduro. In an April 4. statement, Senator Scott expressed strong condemnation, accusing President Biden and his administration...

The Georgetown Chamber of Commerce and Industry (GCCI), with the re-elected leadership of President Kester Hutson, has pledged to escalate its support for Small and Medium Enterprises (SMEs) in the upcoming year. Hutson first took up the post in 2023...

In anticipation of the looming deadline for U.S. sanctions relief on Venezuela's crude industry, Rystad Energy has presented insights into the future trajectory of the nation's oil output, with Senior Vice President Jorge León offering a comprehensive analysis. With the...