News

In Guyana's inaugural offshore licensing round, Sispro Inc. stands out as the only Guyanese company among the bidders. Located in South Cummingsburg, Georgetown, this indigenous start-up is a stand-out. So, who are the locals behind it? Founded by four women...

Tullow Oil has released its half-year results for 2023, revealing revenue amounting to US$777 million, a gross profit of US$351 million, and a profit after tax of US$70 million. The company said the highlight of the period was its successful...

Shell has officially commenced the process of seeking environmental clearance for the highly anticipated Manatee project in Trinidad & Tobago.  The application for a certificate of environmental clearance (CEC) has been submitted to Trinidad & Tobago's Environmental Management Authority (EMA),...

Staatsolie, the state-owned oil company of Suriname, could participate with up to 20% in the development of the inaugural field development within Block 58, the company announced.  The arrangement aligns with the model production sharing contract, wherein the Surinamese state...

As the Guyana Government edges closer to concluding its inaugural audit of ExxonMobil Guyana Limited's Stabroek Block expenses totalling US$1.7B, a hefty US$214M in disputed costs has been deemed the final sum. This development could push both local authorities...

President of Guyana Dr. Mohamed Irfaan Ali and Vice President Dr. Bharrat Jagdeo say the government is pleased with the interest shown in the country's first offshore licensing round, despite receiving bids for only eight out of the 14...

Guyana is presenting a golden opportunity for major international brands to tap into its growing retail market. Arick Wierson, a political and business columnist for CNN, Observer, CNBC, and Vice, highlighted this untapped potential in a recent article for...

The FPSO Sepetiba, a floating production, storage, and offloading (FPSO) platform, has arrived in Brazil from China. After undergoing necessary legal and technical procedures, the FPSO will be deployed to the Mero field in the Santos basin's Libra section.  This...

A key provision in ExxonMobil’s permit for the massive Yellowtail project offshore Guyana requires the company to have a capping stack maintained, tested, and stored in country. And this, according to Exxon’s Project Manager, Anthony Jackson, should be considered...

The oil cartel, Organisation of Petroleum Exporting Countries (OPEC), and South America’s new oil producer, Guyana, do not see eye to eye on production policies and for that reason, the country is not interested in becoming a member.  Its President,...