News

As negotiations continue between the Guyana Government and ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) regarding the contractual terms to govern the Gas-to-Energy project, both parties have so far agreed that there will be no cost for...

Eco (Atlantic) Oil and Gas Ltd. Announced on Tuesday that it decided against acquiring JHI Associates, a company with 17.5% ownership of Guyana’s Canje Block. Eco said that while all the main commercial points were agreed upon in keeping with...

Proven oil reserves are those that have a reasonable certainty of being recoverable under existing economic conditions with existing technology. The new oil producing South American country of Guyana now has around 11 billion barrels of oil equivalent. These resources...

Guyana’s Vice President Dr. Bharrat Jagdeo says the government is mulling court action against international firms which are trying to circumvent local content laws. “A lot of foreign companies are trying to beat the law,” the Vice President highlighted during...

(S&P Global Platts) Petrobras will raise wholesale diesel and gasoline prices, effective June 18, in the latest increase under the company's controversial import-parity pricing policy and the first adjustment since Brazil's Congress passed several measures aimed at reducing fuel...

Guyana’s Vice President Dr. Bharrat Jagdeo recently disclosed that the government intends to seek an international project manager for the construction of the power plant and natural gas liquids processing facility, the components of the Gas-to-Energy project it is...

The market value of Guyana's oil fund is nearly three-quarter billion US dollars. According to the Guyana Central Bank’s 2022 first-quarter report for the Natural Resource Fund (NRF), the market value of the Fund at March 31, 2022 stood at GY$150.08...

TotalEnergies has entered into an agreement with Adani Enterprises Limited (AEL) to acquire 25% interest in Adani New Industries Limited (ANIL) to be the exclusive platform for the production and commercialisation of green hydrogen in India. TotalEnergies announced that ANIL will target the production of...

With the surge in fuel prices globally, well-established oil producing countries around the world have been looking to boost output, even as groups and climate lobbyists continue to push for new producers like Guyana, to slow down development of...

Italian oil services company, Saipem, announced a US$25 million contract from floater operator, BW Offshore Limited, to provide early-stage engineering services on an oil production vessel for Shell’s Gato do Mato oil and gas field in Brazil. BW issued a limited notice to proceed (LNTP)...