TOTALTEC Inc. has successfully transitioned to becoming a 100% Guyanese-owned company. CEO Lars Mangal recently announced this significant development, detailing the Guyanese founder’s acquisition of the entire share capital of TOTALTEC from its international, angel investors in May. This...
CNOOC Petroleum Guyana Limited (CPGL) has awarded scholarships to four students from Guyana to pursue studies in Petroleum Sciences in China for the academic year 2023-2024. These four promising scholars—Nechemiyah Levans, Aria Matthews, Ishika Singh, and Nazeela Williams—are the...
Tullow, alongside its joint venture partners Kosmos Energy, Ghana National Petroleum Corporation, Petro SA and Jubilee Oil Holdings, has announced the successful start-up of the Jubilee South East (JSE) Project, offshore Ghana.
The first JSE production well has been brought...
In the midst of a burgeoning controversy, Guyanese businessmen Nazar Mohamed and his son, Azruddin, partners in a multimillion-dollar venture to build ExxonMobil a shore base in Guyana, have refuted allegations of money laundering, drug trafficking, and gold smuggling....
Guyanese Achieving Together Enterprises (GATE), a consortium of local catering and food service operators, has purchased a substantial equity stake in Newrest Guyana, the country's premier offshore caterer and food supplier to the oil and gas sector.
This acquisition comes...
The World Bank has announced the elevation of Guyana's status to a high-income country, a milestone in the South American nation's economic journey. This update comes along with several other countries having their statuses adjusted in the latest annual...
Stranded assets, a prevalent concern in regions heavily dependent on fossil fuels, are essentially investments that may never yield returns due to shifts in the market, typically driven by environmental considerations and the burgeoning clean energy revolution. While many...
Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic...
Australian-based Woodside Energy Group has handed back a deepwater block to the government of Trinidad and Tobago, following an appraisal that deemed its development financially unsound, according to a company representative on Wednesday. Reuters broke the story of the...
ExxonMobil Corporation announced that it has reached a definitive agreement to acquire Denbury Inc., a renowned developer of carbon capture and storage (CCS) solutions and enhanced oil recovery. The all-stock transaction is valued at US$4.9 billion.
The acquisition aligns with...
