News

A key representative of businesses in Guyana - the Georgetown Chamber of Commerce and Industry (GCCI) - will be lobbying for the removal of the United Kingdom (UK) visa requirement as British Airways is set to resume direct flights...

Frontera Energy Corporation disclosed on Wednesday morning that it recorded a net income or profit of US$13.5 million or US$0.14 per share in the second quarter of 2022. This is a significant drop when compared with a net income...

Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the quality, accessibility, resilience, and safety conditions of transportation networks, thereby improving travel time. The project-specific objectives are to reduce the Golden...

The latest monthly report on Guyana’s Natural Resource Fund (NRF) shows that the account earned GY$10.646 billion in royalties and GY$50.127 billion in profit oil. This totals approximately GY$60.773 billion (US$291.477 million). The Bank of Guyana report states that net...

Guyana’s Maritime Administration Department (MARAD) has been closely monitoring the dredging of the Demerara channel for the massive Port of Vreed-en-Hoop project amid concerns that the activity is disrupting the livelihood of local fishermen. Media reports claimed that the silt...

Canadian oilfield service company, Shawcor Ltd. said its pipe coating division has been awarded a definitive contract by Saipem for ExxonMobil’s fourth Stabroek Block development – Yellowtail. A definitive contract ranges between CA$40 million - CA$50 million. Shawcor will be providing...

Following several months of technical work and extensive nationwide consultations, the National Assembly ratified Guyana’s new and expanded Low Carbon Development Strategy (LCDS) 2030 on Monday. LCDS 2030, an update to the one launched in 2009 by then President Bharrat...

Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling in Brazil and the Gulf of Mexico. The combined value of these contracts exceeds US$1.2 billion. The Swiss-based driller said the...

The Inter-American Development Bank (IDB) has commented in one of its latest publications that Guyana’s oil boom will drive hydrocarbon exports beyond US$3 billion this year and also account for 59.7% of Gross Domestic Product (GDP). It further noted in...

Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...