News

Equinor said it struck oil and gas near the Troll field in the North Sea, its eighth discovery since 2019. The volumes are estimated to be between 24 and 84 million barrels of oil equivalent, with slightly more oil than...

Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) is on the hunt for vehicle and telecommunications suppliers in the Georgetown area.  In public requests for information (RFIs), EEPGL said it plans to put in place agreements for the...

Guyana’s hydrocarbon story has been dominated by oil so far, but its new model petroleum agreements have established a framework that will compel the utilisation and commercialisation of its natural gas resource. Once contractors discover natural gas fields or excess...

Guyana’s new petroleum agreements seek up to US$85 million in investments into environmental and social projects.  For each of the 14 contracts on offer, the new agreements seek US$1 million in investments into a Fund every year. 11 shallow water contracts...

Shell Global has made great strides in its energy transition strategy; a major plus as the company mulls re-entry into Guyana, the world’s newest oil producer and a known carbon sink.  In its 2022 report, Shell said it managed to...

Keeping to its strategy to divest from non-core assets, ExxonMobil is mulling selling off its majority stake in Italy’s main regasification terminal - Rovigo LNG.  Also called Adriatic LNG, the terminal is owned by ExxonMobil Italiana Gas S.r.l. which holds...

The Georgetown Chamber of Commerce and Industry (GCCI) said banks have to take a more proactive approach in sharing possible hindrances restricting better access to finance for the Guyanese private sector, whether they be legislative, economic, social or environmental.   GCCI...

With 85% of its territory covered in dense forests that remove about 154 million tons of CO2e every year, Guyana is automatically catapulted to where most of the world hopes to be by 2050, says Vice President, Dr. Bharrat...

One of ExxonMobil’s key commitments to Guyana, according to President of Upstream Oil and Gas, Liam Mallon, is ensuring that it develops its business in a manner that provides sustainable benefits to all stakeholders.  A main pillar of that is...

With Guyana’s draft model petroleum agreements now in the public domain, it is clear that the government is seeking to encourage international oil companies (IOCs) to commit to development of commercial discoveries in a timely manner. The contract effectively...