News

As a result of surging oil prices following the Russia-Ukraine crisis, global energy markets are now facing what could turn out to be the biggest supply crisis in decades, said the International Energy Agency (IEA) on Monday. While it is...

Guyana has a tremendous record in environmental protection due to State policies and the ecosystem and carbon sequestration services that its forests provide. Considering this, Georgetown businessman, Timothy Tucker, is urging hardline environmentalists to exercise compromise for the benefit...

(S&P Global Platts) Multiyear highs of crude oil and natural gas prices are a price of standing up to Russia for its ongoing war in Ukraine, John Kerry, US special presidential envoy for climate, said March 7 at CERAWeek...

Liquids supply growth outside of the Organization of Petroleum Exporting Countries (OPEC) in 2021 remained broadly unchanged at around 0.6 million barrels per day (mb/d) year-on-year (y-o-y). The 2021 oil supply estimation primarily sees growth in Canada, Russia, the US...

In seeking to understand the concerns of stakeholders when it comes to local content, Guyana’s recently established Local Content Secretariat has developed a grievance redress mechanism. Found on the website of the Secretariat, it is highlighted that the input...

Saipem has been awarded a contract by Aker BP for a drilling campaign offshore Norway. The operations are expected to start from the end of Q4 2022, upon termination of the works in which Scarabeo 8 is currently engaged. Scarabeo...

Oil field service company Halliburton announced on Friday that has immediately suspended future business in Russia as the company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton said it will prioritize safety and...

Guyana’s Attorney General and Minister of Legal Affairs, Anil Nandlall, says government will not institute price control mechanisms as a response to rising prices of various commodities. He made the comments during his weekly live show ‘Issues in The...

(Reuters) - Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre prolonged disruption to oil supply. Brent crude futures...

Guyana’s landmark gas-to-energy project will reduce emissions significantly when it becomes operational since the South American country currently utilizes heavy fuel oil to generate power. One expert also said emissions can be reduced even further with the use of...