News

Offshore supply ship HOS Brass Ring is one of several vessels supporting an Environmental Baseline and Geotechnical Survey operation at the ExxonMobil-operated Stabroek Block offshore Guyana. The vessel departed from Carenage, Trinidad and Tobago, last Wednesday and arrived in...

When its Gas-to-Energy project comes on stream in 2024, Guyana is expected to break the spell of high electricity rates that has suppressed its development for decades. This major initiative will also be working in perfect synchrony with three...

CNOOC Limited, a 25% stakeholder in the Stabroek Block, recorded a massive US$5.1 billion (36.9 billion yuan) in earnings for the third quarter of 2022. This represents an 89% increase in a year driven by strong oil and gas...

Back in 2020, the world market had been hit by the unexpected and unprecedented emergence of the COVID-19 pandemic. So devastating was its impact that ExxonMobil Corporation recorded a US$22 billion loss, its biggest in four decades. Just two years...

While Hess Corporation and other majors may be cashing in big from key productive assets, global supply needs to ramp up as quickly as possible to avert further consequences of a deepening energy crisis. This was stated on Wednesday by...

Following the announcement last week of two more discoveries at Sailfin-1 and Yarrow-1 in the ExxonMobil-operated Stabroek Block, the hunt for more high-quality oil resources is now set to continue at the Fish-1 and Lancetfish-1 prospects offshore the South...

TechnipFMC, one of the prime contractors for ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), said on Thursday that it recorded US$1.7 billion in revenues for the third quarter of this year. Chair and Chief Executive Officer (CEO), Doug...

The US$30 million (GY$6 billion) Nismes wharf and laydown yard development, conceptualised by GAICO Construction and General Services Inc. is expected to be operational from January 2023. This is according to GAICO’s Managing Director, Komal Singh. The facility will serve as the land base from which pipeline laying for the Gas-to-Energy project could progress. Singh has described the project as...

Development work for two large ExxonMobil-led Guyana projects - Payara and Yellowtail - are progressing. Hess Corporation, a 30% stakeholder in the Stabroek Block where both projects will be operationalized, provided an update this week. The projects will add nearly...

French multi-energy company, TotalEnergies, has joined the ranks of other oil majors recording massive profits for the third quarter of 2022. Its executives reported this week that earnings jumped by more than 40% to US$6.6 billion in Q3. In...