News

The North Sea Transition Authority (NSTA) which regulates and influences the oil, gas, and carbon storage industries of the United Kingdom said on Friday that it has added 34 more concessions to the 33rd bid round which opened on October...

Following the passage of the Natural Resource Fund (NRF) legislation, the Guyana government has been able to authorise a US$607.6 million transfer to support the 2022 budget. The administration has said that the withdrawal would be used to invest heavily...

With Europe scrambling for alternative energy sources in wake of the Russia-Ukraine war, Guyana’s light, sweet crude has assumed greater importance to the continent’s consumers. This was discussed by Scott B. MacDonald, Chief Economist for Smith’s Research & Gradings, and...

SBM Offshore said construction of the topsides modules for the ‘ONE GUYANA’ floating production, storage, and offloading (FPSO) vessel and the accompanying marine structures has commenced in Singapore. Two steel strike ceremonies were held in both Keppel FELS and Dynamac...

Guyana could emerge as a major LNG exporter in coming years as massive hydrocarbon discoveries continue to mount off the country’s coast and output from neighbours such as Trinidad and Tobago continue to decline. In his most recent OilNOW column...

OPEC+ announced the biggest cut to its target production level since 2020 last week – some two million barrels per day (bpd). And the International Energy Agency (IEA) believes that the decision increases energy security risks worldwide and could lead...

The provisions outlined in Guyana’s Local Content Act – a critical piece of legislation for the country’s booming oil sector took centre stage during Episode V of the Guyana Business Journal’s Transforming Guyana webinar on Wednesday. Since the law’s December 2021...

Over 2,884 residents will benefit from a new 686 kilowatt-peak (kWp) turn-key solar farm in the Mahdia community, in Guyana, when it is commissioned around the end of 2023. Following an open tender process, the contract for the Mahdia solar PV project was awarded to Standby Power Engineering Company...

SBM Offshore is forging ahead with its internship program, offering students the opportunity to harness their potential and be integrated into Guyana’s oil and gas sector. Applications opened on October 1, the company said in a public notice. The internship programme...

As the Guyana government looks to market its share of crude from the Liza 1 and 2 developments in the Stabroek Block, 14 companies have tendered bids to secure this crude marketing project. The successful company will be taking over from Aramco...