News

During the second quarter ended June 30, 2022, Guyana’s Natural Resource Fund (NRF) recorded a profit of GY$266.04 million (US$1.28 million) solely due to interest earned on deposits, says manager of the account, Central Bank of Guyana.  During the quarter,...

The billions of barrels of oil and gas contained in the offshore Guyana basin belongs to the people, including the country’s private sector. In this regard, Guyana’s Vice President, Dr. Bharrat Jagdeo, is calling on the business community to...

ExxonMobil has marked a milestone with the SBM Offshore built and operated Liza Unity floating production storage and offloading (FPSO) vessel for its second oil development in the Stabroek Block offshore Guyana. It was the first FPSO in the world to be...

Tullow Oil said it expects drilling completion and results for the Beebei-Potaro well offshore Guyana in the third quarter of 2022. This was stated in its July trading statement and operational update, released on Wednesday. The Beebei-Potaro prospect is targeting...

Access to finance has been a major deterrent to local businesses looking to service Guyana’s oil and gas sector. After all, the development cost for just one of ExxonMobil’s offshore projects overshadows Guyana’s annual budgets. Calls have mounted for the...

Guyana received a four-person team from the International Solar Alliance last week in preparation for the Fourth Regional Meeting of the Latin American and Caribbean Region of the International Solar Alliance (ISA) to be held from August 3-5 in Georgetown. ISA member states use the...

Senior Finance Minister Dr Ashni Singh announced that Government has made its second draw down from the Natural Resource Fund in accordance with the Natural Resource Fund (NRF) Act 2021. The Minister indicated that pursuant to Section 16 of the...

A delegation from Saudi Arabia was told on Saturday that investing now in South America’s newest oil producing nation, Guyana, would be less expensive than even a year and a half down the road since the new petroleum hotspot...

Suriname’s Block 58 has churned out five discoveries in total, but operator TotalEnergies E&P Suriname B.V. is yet to make a Final Investment Decision (FID). Government officials expressed hope during the recently held Suriname Energy, Oil and Gas Conference (SEOGS) that this...

As part of its landmark Low Carbon Development Strategy (LCDS), new oil producer Guyana plans to establish an international center for biodiversity research. The center will work with local and international partners, including the University of Guyana, to understand the...