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Oil spill simulated during response exercise in new petroleum hotspot

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Authorities in Guyana simulated a tier two oil spill on Wednesday as it tested its national response mechanisms. A tier two response involves the mobilization of national and regional resources to respond – one notch above tier one, the...
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Guyanese recruitment firm and youth development body enter training agreement

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Strategic Recruitment Solutions Inc. (SRSGY) has signed a Memorandum of Understanding with Specialists in Sustained Youth Development and Research Inc. (SSYDR), to offer SSYDR’s trained youth a 12 week on the job training opportunity. The agreement was signed on...
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Third Guyana oil production vessel leaves dry dock

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The giant Prosperity FPSO, Guyana’s third oil production vessel, has left dry dock and is moving to quayside for the subsequent phases of the project set to deliver another 220,000 barrels of oil per day to the new oil...
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Biden announces historic oil reserve release, plans to punish oil companies for not increasing production

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(CNN) U.S President Joe Biden on Thursday announced an unprecedented release of oil from US reserves and several steps his administration is taking to punish oil companies for not increasing production from unused leases on federal land. The steps are an...
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Developed world not providing climate adaptation support; we have to fend for ourselves – VP Jagdeo

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Months after the conclusion of the United Nations Framework Convention on Climate Change (UNFCCC) 26th Conference of Parties in Scotland, Vice President Dr. Bharrat Jagdeo told Guyanese that the developed world has ignored the demands of the Caribbean Community (CARICOM),...
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Local content not designed to hinder foreign investment; come partner with Guyanese – Bharrat

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Natural Resources Minister in Guyana, Vickram Bharrat, said that the Local Content Act 2021, passed into law in December last year, is not designed to hinder foreign investment. “I know there are many questions regarding the local content legislation… whether...
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Sustained US$100-$130 oil prices expected through third quarter as food crisis looms – Rystad Energy

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With both Brent and WTI crude trading over US$100 per barrel for weeks since Russia first invaded Ukraine, Norwegian business intelligence firm, Rystad Energy now projects that this is going to last for several more months. Rystad said in its...
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Trinidad’s oil-driven economy in shambles; Guyana working to be an exception – VP Jagdeo

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While his counterparts in Trinidad and Tobago have taken umbrage at his latest public comments that the economy of the Twin-Island Republic is falling apart, Vice President, Dr. Bharrat Jagdeo has no intention to change his position. For him,...
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Analyst urges quick action on approval of Guyana’s largest oil development to date

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Negotiations are underway for the Stabroek block consortium to provide a guarantee that they would have adequate resources to respond to an oil spill. Arthur Deakin, who is energy co-director at Americas Market Intelligence (AMI), said that while this...
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CGX prepping for next target on Corentyne Block with initial cost pegged at US$93M

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CGX Resources Inc. (CRI) in partnership with its Canadian joint venture partner, Frontera Energy Corporation, said the Wei-1 prospect in the Corentyne Block will be drilled in the May to August period with costs to execute said project starting...
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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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