News

Guyana could emerge as a major LNG exporter in coming years as massive hydrocarbon discoveries continue to mount off the country’s coast and output from neighbours such as Trinidad and Tobago continue to decline. In his most recent OilNOW column...

OPEC+ announced the biggest cut to its target production level since 2020 last week – some two million barrels per day (bpd). And the International Energy Agency (IEA) believes that the decision increases energy security risks worldwide and could lead...

The provisions outlined in Guyana’s Local Content Act – a critical piece of legislation for the country’s booming oil sector took centre stage during Episode V of the Guyana Business Journal’s Transforming Guyana webinar on Wednesday. Since the law’s December 2021...

Over 2,884 residents will benefit from a new 686 kilowatt-peak (kWp) turn-key solar farm in the Mahdia community, in Guyana, when it is commissioned around the end of 2023. Following an open tender process, the contract for the Mahdia solar PV project was awarded to Standby Power Engineering Company...

SBM Offshore is forging ahead with its internship program, offering students the opportunity to harness their potential and be integrated into Guyana’s oil and gas sector. Applications opened on October 1, the company said in a public notice. The internship programme...

As the Guyana government looks to market its share of crude from the Liza 1 and 2 developments in the Stabroek Block, 14 companies have tendered bids to secure this crude marketing project. The successful company will be taking over from Aramco...

Brazil’s offshore fleet of floating oil platforms has grown by two as Japanese contractor MODEC announced that the ‘Almirante Barroso MV32’ has arrived on Brazilian shores while the Anita Garibaldi is en route. The first vessel arrived on October 5...

Given Guyana’s proximity to other oil and gas players like Suriname and Trinidad and Tobago, regional cooperation with these nations would certainly aid its ambition for energy sufficiency and safety, says Iman Hill, Chief Executive Officer (CEO) of the International...

With roughly three months left in 2022, Guyana’s Natural Resource Fund (NRF) account has already broken the US$1 billion mark. According to the Bank of Guyana (BoG), the balance of the account at the end of September 2022 stood...

Guyana’s largest oil and gas port facility, Guyana Shore Base Inc. (GYSBI) has secured a US$10 million bridge loan from NCB Merchant Bank out of Trinidad and Tobago. With the bridge loan in hand, GYSBI now has the greenlight to...