News

Fitch ups Guyana’s growth forecast as oil prices remain high

Fitch Solutions, regarded as one of the top three credit rating agencies in the world, has upped its growth forecast for Guyana this year on account of high oil prices. The report from Fitch Solutions Country Risk & Industry...

Guyana not the only region with aggressive oil agenda

While some environmental and other interest groups have criticized Guyana over the rapid pace at which the South American nation is developing its oil and gas resources, with some even calling for it to be left in the ground,...

Guyana, Canada agree to expand trade relations, commercial opportunities

A Memorandum of Understanding (MoU) signed between Guyana and Canada will see the two nations building firmer ties to see expanded trade relations and greater cooperation. The agreement was signed on Tuesday by Guyana’s Minister of Finance, Dr. Ashni Singh...

Solar farms advancing at two of Guyana’s towns

Lethem and Bartica, two of Guyana’s towns, will see significant savings in fuel costs and emissions, with the addition of solar farms there. Prime Minister, retired Brigadier Mark Phillips visited the more recent construction at Bartica on Tuesday, which is...

Exploration’s star is rising; Guyana-Suriname basin shining brightest

High-impact exploration in deepwater plays is reserved to major oil players – like ExxonMobil, TotalEnergies, BP, Royal Dutch Shell – and a few leading National Oil Companies (NOCs). The reason, according to UK-based consultancy group Wood Mackenzie, is because only...

Guyana gov’t exploring options for oil refinery in Berbice county

Investors have signaled their interest in constructing an oil refinery in Guyana’s Region Six with the government already receiving six proposals to consider, according to the President, Dr. Mohamed Irfaan Ali. “We have more than six proposals for refineries, small...

CGX Energy bets all assets on US$35M Frontera loan to finance deepwater port, Corentyne Block activities

CGX Energy and Frontera Energy Corporation have sealed a US$35 million loan agreement that will see CGX Energy continue plugging more funds in the Corentyne Block and the Berbice Deepwater Port along with other costs associated with the deal. The US$35 million...

TOTALTEC academy trained over 550 Guyanese since 2018 – report

The International Petroleum and Maritime Academy (IPMA) has trained and certified more than 550 Guyanese since its establishment, TOTALTEC said in a release commemorating two of the school’s anniversaries. It is celebrating one year since being awarded ISO 9001 certification,...

Petrobras makes new oil find in Campos basin

Brazilian state-run oil company Petrobras recently announced the discovery of a new accumulation of oil in the pre-salt of the southern part of the Campos Basin in a pioneer well in the Alto de Cabo Frio Central block. The Well 1-BRSA-1383A-RJS (Alto de Cabo...

Natural Resource Fund records GY$31.5M profit for Q1 2022

The Natural Resource Fund (NRF) recorded a profit of $31.57 million (US$151,412.05) for the first quarter of 2022 solely due to interest earned on deposits. According to Bank of Guyana’s Q1 report, the market value of the Fund at...

Latest News

Celebrating women’s leadership: The journey of the 25 Influential Women Leaders Awards

Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's...