News

While many of its industry counterparts have been hard hit by the inflation that has resulted from the war in Ukraine and the COVID-19 pandemic, Hess Corporation which has a 30% working interest in the Stabroek Block was pleased...

Hess Corporation’s Chief Executive Officer (CEO), John Hess has lauded the Guyana government for being pro-business, and accelerating investments so that oil revenues can be used to lift the nation’s standard of living. But equally important for Hess and its...

As a result of high oil prices driven by the Russia-Ukraine war, territories such as the United Kingdom and Canada have implemented a windfall tax on oil companies. This tax, which is applied to the profits oil companies gain...

The government of Trinidad and Tobago is finalising a commercial agreement for the 112.2-megawatt (MW) Project Lara, a joint venture comprising of multinational energy giants, Shell and BP, and specialist solar energy company, Lightsource BP. Two sites have been identified...

Italian energy services company and ExxonMobil subcontractor, Saipem, said on Wednesday it has agreed to sell its drilling onshore business to British-based oil drilling contractor KCA Deutag (KCAD) for $550 million to focus efforts on building out its offshore operations. Saipem’s onshore drilling business operates globally outside...

Today, Guyana joins the globe in celebrating World Environment Day 2022. This year’s campaign “Only One Earth” calls for collective, transformative action on a global scale to celebrate, protect and restore the planet. For many countries restoring the planet will prove...

Guyana's offshore Stabroek Block developments have been outstanding performers when it comes to pace and efficiency. Hess Corporation’s Chief Executive Officer (CEO), John Hess said the projects come on two to three times faster than any other global offshore...

As it continues to weigh the pros and cons of having passive ownership in a National Oil Company (NOC), the Guyana Government has said any potential partner it chooses to manage the facility would need to have “deep pockets”...

While it has applauded the Guyana Government for its prudent review and amendment of the Natural Resource Fund Legislation, thereby making it more effective and transparent, the International Monetary Fund (IMF) has urged local authorities to be mindful of...

History has shown that many oil-producing states often see an increase in corruption with the onset of oil and gas production. Angola, Nigeria, and Uganda are examples of this. In light of this risk, the International Monetary Fund (IMF)...