News

Guyana’s Natural Resource Fund may receive a windfall from the current record high oil prices, but the rising prices are beginning to affect the country’s pockets in other ways. Guyana Power & Light Inc. (GPL), the country’s electricity provider, shared...

(Reuters) - Officials from the Organization of the Petroleum Exporting Countries (OPEC) met U.S. shale oil company executives on the sidelines of the CERAWeek conference in Houston on Monday as energy prices soared over supply concerns. It was at least...

The Centre for Local Business Development (CLBD) announced on Monday that it brought in economic diversification expert, Dr. Zainab Usman, to discuss the importance of economic diversification and her discussion paper Beyond Revenue Management: Principles for an Oil-Led Development Strategy...

Members of CGX Energy Inc.’s management team have sought to clarify that while the Kawa-1 well has been plugged and abandoned, with no intent to return to the site, appraisal work is on the cards for the future. Exploration Manager,...

(Reuters) - Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil. Talks to revive...

A lawsuit filed in January with Guyana’s Supreme Court seeks to strike down clauses in ExxonMobil’s Stabroek block Production Sharing Agreement (PSA) which grant the company, its co-venturers and their sub-contractors a series of effective tax waivers for development...

(Fox News) Several senior Biden administration officials from the White House and State Department traveled to Venezuela on Saturday to meet with the Russian ally as Moscow’s economy begins to crater under the weight of sanctions, according to a report. The U.S. is hoping to capitalize...

During the wave of excitement CGX Energy Inc. and its Canadian joint venture partner, Frontera Energy Corporation, created with respect to the Kawa-1 discovery on the Corentyne Block, the explorers indicated that they would be looking to focus their...

Guyana’s Attorney General (AG), Anil Nandlall said in an interview last week the government’s development agenda, which includes full support for the offshore oil and gas operations, will not slow down even though some sections of the society seem...

When Canadian-based exploration company CGX Energy Inc. announced on January 31, 2022, that it had landed a discovery at the Kawa-1 well, industry stakeholders were excited. It was anticipated that Guyana was now closer to having another major production...