News

As Guyana’s geopolitical importance continues to grow, stronger bilateral relations are being sought with some of the world’s longstanding oil producers. This is particularly the case with the United Arab Emirates (UAE), the third-largest producer in the Organization of...

(S&P Global Platts) The Mexican government has reduced the tax rate that state oil company Pemex will pay in 2022 to 40% from 54% currently, which could help it achieve its goals of producing a little over 2 million...

This article was first published in the T&T Business Newsday on October 21, 2021. ExxonMobil recently announced that their recoverable oil and gas resources in Guyana had reached an incredible 10 billion barrels of oil equivalent. The first discovery was...

Ten billion barrels of oil equivalent and counting. The Guyana basin has gone from zero to prolific in just six years and from all indications, the volumes being discovered have not yet peaked. In fact, experts see much more...

As a follow-up to several bilateral engagements, a technical high-level team from the oil-producing nation of Ghana will soon visit Guyana to review amendments to the nation’s Natural Resources Fund (NRF) law as well as its draft Local Content...

Exxon Mobil Corporation announced yesterday that it achieved an estimated US$6.8 billion, or US$1.57 per share in earnings at the close of the 2021 third quarter. This represents a US$7.4 billion increase over 2020 thanks to improved demand and...

ExxonMobil has failed to encounter commercial crude at its third well on the Canje Block offshore Guyana – Sapote-1, drilled by the Stena DrillMax. The well was drilled in 2,549 meters (8,362 feet) of water and safely reached a total...

Guyana’s President, Dr. Mohamed Irfaan Ali, has recognized once more that Guyana will need to align the development of its oil and gas sector with global trends towards decarbonization. To achieve this, the President has outlined strategic objectives that...

A draft of the more ambitious version of the PPP/C government’s flagship Low Carbon Development Strategy (LCDS) dubbed LCDS 2030 was unveiled on Thursday by Guyana’s President, Dr. Irfaan Ali. LCDS 2030 will be aimed at creating a new -low-carbon...

A draft of the Guyana government’s updated Low Carbon Development Strategy (LCDS) has clearly outlined how the administration intends to power hundreds of communities nationwide with clean energy sources over the next decade. During the launch of the document on Thursday,...