News

Downtime for ExxonMobil’s Liza field is expected in the second half of 2024, said Chief Financial Officer (CFO) Kathy Mikells, to facilitate Guyana’s Gas-to-Energy (GtE) project.  “At some point in the second half, we are working on the Gas-to-Energy project...

Hess Corporation recorded a decline in net income for the fourth quarter of 2023. The net income stood at US$413 million, or $1.34 per share, a 17% decrease from US$497 million, or $1.61 per share, in the fourth quarter...

Guyana’s Vice President, Bharrat Jagdeo, is not surprised that the Nicolas Maduro regime has violated the Barbados agreement, which outlines requirements for free and fair elections in the South American country. After all, Maduro does not accept the sanctity...

In the face of environmental activism, Guyana's Vice President Bharrat Jagdeo remains 'strongly' optimistic about securing a US$660 million loan from the United States EXIM Bank for the country's Gas-to-Energy project. This project aims to transform Guyana's energy sector...

Following earnings of US$1.617 billion in 2023, the Bank of Guyana said it expects Guyana’s oil fund (the Natural Resource Fund) to receive payments for two lifts of oil produced in December. The lifts, each approximately a million barrels of...

Brazil's Petrobras announced the successful completion of drilling at the Pitu Oeste exploratory well in the Potiguar basin, located in the Equatorial Margin. It is one of five promising offshore regions that Petrobras aims to investigate as part of...

U.S. Air Force Major General Evan L. Pettus, 12th Air Force (Air Forces Southern) Commander, will visit Guyana from January 31 – February 2, the U.S. Embassy in Guyana said in a Feb. 1 release.  The embassy said, “12th Air...

Hess Corporation said in its Q4 2023 earnings update that the Payara project reached its oil production target of 220,000 barrels per day (b/d) in January.  Having started production in November last year, Payara’s production ramp-up is three months ahead...

The government of Guyana expects the Exxon-led Stabroek block co-venturers to propose a seventh offshore development in 2024. Minister of Natural Resources, Vickram Bharrat said the government budgeted GY$100 million (approximately US$480,000) to review the application.  “We have dealt with...

The global upstream industry is eyeing a rebound in high-impact oil and gas drilling in 2024, with Africa and Latin America poised to be the driving forces behind these activities. According to Rystad Energy, a total of 36 high-impact...