News

With an anticipated sum of US$1.629 billion from profit oil and royalties in 2023, the projection for the amount available for withdrawal and spending from Guyana's Natural Resource Fund in 2024 stands at US$1.16 billion. The formula, encapsulated in the...

In a significant initiative aimed at empowering and educating young Guyanese girls, the Vurlon Mills Football Academy, in partnership with SBM Offshore Guyana, has unveiled the Women in Football Development Programme. It is slated to provide professional football coaching,...

Dyna-Mac, a Singapore-based provider of engineering, procurement, and construction services, has announced the successful acquisition of several contracts totaling a provisional sum of S$88.0 million from its valued repeat customers. The primary contract underpinning this announcement involves the construction of...

In a significant display of defiance against U.S. sanctions, Iran, Venezuela, and Syria have inked a tripartite Memorandum of Understanding (MoU) to construct a new oil refinery in Syria's Homs governorate. The planned refinery is expected to have a...

Guyana's Minister of Foreign Affairs and International Cooperation, Hugh Todd, held a crucial meeting with his Brazilian counterpart, Mauro Vieira, to discuss the ongoing developments in the Guyana/Venezuela border controversy.  According to a briefing issued by Guyana’s Foreign Affairs Ministry,...

October 3 marks the 124th anniversary of the Arbitral Award of 1899, which established the land boundary between then British Guiana and Venezuela. The Guyana government in a statement reaffirmed its commitment to upholding the Arbitral Award's validity and...

Guyana reported a significant boost in its crude oil export earnings, reaching US$5.39 billion for the first half of 2023, marking a substantial increase of US$1.78 billion compared to the prior year.  The surge in earnings was driven by a...

Brazil's state-controlled energy giant, Petroleo Brasileiro SA (Petrobras), has received a crucial permit from Brazil's top environmental agency, Ibama, to explore the potentially lucrative Potiguar basin in the country's northeast region. The development comes after months of negotiation and...

Guyana is set to undergo an anti-corruption review led by experts from Trinidad and Tobago, Suriname, and the Organisation of American States (OAS). Such a review would be critical for improving confidence in the government’s management of the quickly...

Aker Solutions, SLB, and Subsea 7 have successfully concluded their proposed transaction to establish a transformative subsea joint venture, unveiling the new entity under the name "OneSubsea." In an official statement issued on Oct 2, the companies announced that...