News

The Guyana government said in a statement on Saturday it remains committed to transparency in the extractives sector and followed all procedures in the process of appointing a new Head of the GYEITI Secretariat. See full statement below. AFC’s Dr....

The Government of Guyana intends to use the first withdrawal from its Natural Resource Fund to help finance its country’s infrastructural transformation and is pushing back against opposition calls to steeply hike public servants’ salaries. “If you spend on the...

Guyana’s Minister of Natural Resources, Vickram Bharrat recently told OilNOW that his ministry welcomes the positive announcement at the Kawa-1 well which was made by CGX Energy Inc. and Frontera Energy Corporation in the Corentyne Block. He was keen...

With massive developments set to take place in the energy sector, specifically as it relates to the multi-billion-US dollar oil and gas subsector, there has been a rush for documentation for Guyanese citizenship says Vice President, Dr. Bharrat Jagdeo. In light of this...

ExxonMobil Corporation which is leading operations in Guyana’s Stabroek Block recently disclosed during its 2021 fourth quarter earnings call that it expects to meet its 2025 emission-reduction plans four years ahead of schedule. The company said this includes a 15-20%...

The Guyana government is putting everything in place for the approval of the giant 250,000 barrels per day Yellowtail Development Project soon with Vice President Dr. Bharrat Jagdeo telling reporters on Thursday all systems should be in place by...

Cognizant of the difficulties some local companies have been facing over the years in accessing finance from commercial banks in Guyana, Vice President, Dr. Bharrat Jagdeo says the government will soon have a meeting with financial institutions on allowing...

The Government of Guyana intends to pass on direct instructions for local companies to submit their bids for oil contracts net of taxes so that they can have a competitive advantage against foreign suppliers. This is according to Vice...

Should CGX Energy Inc. and its partner, Frontera Energy Corporation move to produce its Kawa-1 discovery in the Corentyne Block, Vice President Dr. Bharrat Jagdeo has assured that better fiscal terms will be secured in its Production Sharing Agreement...

The Liza Unity Floating Production Storage and Offloading (FPSO) vessel is undergoing final hook-up and commissioning at the ExxonMobil-operated Stabroek Block offshore Guyana in preparation for the start of oil production at the Liza Phase 2 Development. “Unity is on...