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South America’s newest oil producer is number four in the world for top basins by well count – Norway group    

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Guyana, the newest oil producer in South America, is emerging as a major player in the global oil and gas industry. The country, with current production of around 400,000 barrels of oil per day, has secured an impressive 4th...
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Despite profit drop, Petrobras records 10th highest quarterly earnings on eve of 70th anniversary

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Petrobras, the Brazilian state-controlled oil giant, announced a significant drop in quarterly profits, with results adversely affected by the depreciation of Brent crude prices and rising operating expenses. The company reported a net profit of 28.8 billion reais (US$5.8...
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Guyana’s VP fires back at critics of Gas-to-Energy project; cites hypocrisy in global fossil fuel pledges

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Despite encountering resistance from some local analysts arguing that the Gas-to-Energy Project could risk anchoring the nation to a fossil fuel-dependent future, rather than a renewable energy trajectory, Guyana's Vice President, Dr. Bharrat Jagdeo, staunchly contends that such an...
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Georgetown Chamber says ‘parasitic’ fronting must be weeded out

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In a recent statement, the Georgetown Chamber of Commerce and Industry (GCCI) expressed serious concerns regarding the burgeoning issue of sham partnerships within the private sector, a trend alarmingly labelled as 'fronting' or 'rent-a-citizen'. Such faux partnerships, according to...
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Guyana Minister slams rent-a-citizen practices hindering local content

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Deodat Indar, one of Guyana’s infrastructure ministers, passionately called upon members of the local private sector to steer clear of engaging in "rent-a-citizen" practices due to its detrimental impact on the government's dedicated efforts to foster local content growth...
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Noble’s Q2 earnings come in at US$606 million

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Noble Corp. announced robust financial results for the second quarter of 2023, showcasing a positive growth trajectory amidst an upswing in market conditions. The company reported contract drilling services revenue of US$606 million for the quarter, representing an increase...
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Europe ranks as top buyer of Guyana’s Liza and Unity Gold crude – S&P Global

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Russia’s invasion of Ukraine foisted Europe to the top as one of the largest buyers of Guyana’s Liza and Unity Gold crude, said S&P Global Commodity Insights' oil pricing and news expert Patrick Harrington.  “Until recently, the bulk of Guyana...
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Guyana private sector urged to cash in on ‘never-ending opportunities’

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"If you not in the business, get in the business" was the advice of Government Minister, Deodat Indar to the 360-member strong Guyana Manufacturing and Services Association (GMSA) as it celebrated 60 years of existence on August 3.  His feature...
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Upcoming major shorebase seeking local suppliers for up to 90 services

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The Vreed-en-Hoop Shorebase Inc. (VEHSI) has taken a significant step towards its December completion date by seeking local service providers to meet its operational needs. The company recently published a request for information (RFI) to identify potential contractors offering...
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More dredging of Demerara channel to support VEHSI project

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Dredging activities continue in the vicinity of Guyana’s Demerara main ship channel and off the West Coast of Demerara around Plantation Best to support the Vreed-en-Hoop Shore Base Project (VEHSI).  A notice from the Maritime Administration Department (MARAD) outlined that...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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