News

Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's achievements. This initial spark ignited the creation of the 25 Influential Women Leaders Award, aimed at amplifying the voices and...

ExxonMobil Guyana has increased its estimate of reserves in its Stabroek Block development projects by 600 million barrels on top of the estimates announced when the projects were sanctioned. “We review the reserves of each project each year and make...

Petrobras, the Brazilian oil giant, made a sudden announcement on Tuesday evening, about the departure of Jean Paul Prates from his position as Chief Executive. The company disclosed in a statement that it had received a request from Prates...

Trinidad and Tobago last Monday denied entry for two containers of dairy products exported from Guyana. This has resulted in a whirlwind of condemnation from Guyanese business groups and the Guyana government. It has also reopened old tensions between...

Petronas has added to Suriname’s oil bounty with a new discovery in Block 52 at the Fusaea-1 exploration well.  The prospect is located about 170 kilometers offshore and nine kilometers east of Roystonea-1, the company said today.  “The favorable results attained...

ExxonMobil is expected to accumulate approximately 516 million barrels of oil production offshore Guyana since first oil in December 2019. The US oil major has already produced more than 370 million barrels so far, according to production data published...

MODEC reported US$71 million profit in the first quarter of 2024, a 657.1% increase from the US$9.4 million profit from the prior year quarter.  Its revenue amounted to approximately US$823 million, up from US$745 million in the corresponding quarter of...

Brazilian state-controlled oil giant Petrobras announced a decline in its quarterly earnings, attributing the slump to decreased revenue from diesel sales in the domestic market and exports. According to the latest financial report, Petrobras recorded a net profit of 23.7...

Guyana Minister of Public Works, Bishop Juan Edghill, said the Demerara River bridge is 43.4% completed, according to the Department of Public Information (DPI). Work began last year and is expected to conclude by the end of 2024.  “It is...

Guyana’s Ministry of Finance on May 13 announced a write-off of GY$11 billion (approximately US$53 million) in loans taken by students to attend the University of Guyana.  Vice President Bharrat Jagdeo had said the government would clear student debt before...