News

Texas-based oil major ExxonMobil, operator of Guyana’s Stabroek Block ranks number one on global charts for June 2024, based on market capitalization among the top oil companies in the United States. Market capitalization, sometimes referred to as market cap,...

Horizon56 has showcased the transformative impact of its RigFlow™ and RigBridge™ solutions on offshore operations in Guyana’s Stabroek Block. ExxonMobil is the operator of the asset alongside Hess and CNOOC.  Horizon said its digital tools have significantly enhanced efficiency, safety,...

Touchstone Exploration Inc. announced that its Trinidadian subsidiary, Primera Oil and Gas Limited (POGL), has entered into Exploration and Production (Public Petroleum Rights) Licences for the Cipero and Charuma blocks. These licenses became effective on July 1, 2024. The Cipero...

Guyana is quickly moving up the rankings of the World Bank’s high-income economies. After joining the high-income group last year, the country jumped four places to 63rd based on 2023 growth. The ranking is based on the Bank’s calculation of...

A federal judge halted President Joe Biden’s temporary moratorium on new licenses for exports of US liquefied natural gas (LNG). The decision by US District Judge James D. Cain Jr. in Louisiana, issued Monday, responds to a lawsuit filed...

The Greater Guyana Initiative (GGI) has put out a call for new proposals aimed at advancing strategic capacity development across the South American nation.  Backed by a substantial US$100 million (GY$20 billion) investment from ExxonMobil Guyana Limited, Hess Guyana Exploration...

Oil production offshore Guyana is generating over US$1.5 billion a month, ExxonMobil Guyana Vice President, Philip Rietema said.  “Today, we’re producing over 600,000 barrels a day and oil produced is revenue produced, is revenue to be shared among the people...

A recent International Energy Agency (IEA) report revealed that global oil demand is set to decelerate as the energy transition gains momentum. However, Guyana’s oil and gas sector will continue its rapid expansion. Last year, President Irfaan Ali emphasized...

The procurement process for the Linden utility-scale solar project in Guyana is advancing, President Irfaan Ali announced at a press conference on June 20. This development is part of a broader US$83.3 million initiative under the Guyana Utility-Scale Photovoltaic Programme...

The Stabroek Block partners’ investments in Guyana’s petroleum sector are paying off with US$6.3 billion (approx. GY$1.3 trillion) in combined profits reported for 2023. Their profits grew 12% from the prior year. This is based on a consolidation of...