News

Shipping company Soreidom, with operations in South and North America, the Caribbean and Europe, has been operating in Guyana for over a decade and is now looking to tap into the new opportunities in the oil and gas industry. For...

In light of Venezuela’s heightened aggression which saw the recent illegal detention of two Guyanese registered vessels and their respective crews on January 21, last, many have expressed concerns about the possible interference or disruption of Guyana’s oil production activities being led by ExxonMobil...

Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...

(S&P Global Platts) Global oil demand will rebound by more than 6 million b/d in 2021 and return to 2019 levels a year later despite the sharp acceleration in coronavirus infections and new lockdowns which have hit energy consumption from...

Petrobras said on Friday it has identified the presence of hydrocarbon in a pioneer well in the CM-411 block, located in the Campos Basin pre-salt, in the State of Rio de Janeiro. Well 1-BRSA-1377-RJS, informally called Urissanê, is located approximately...

An increasing number of local businesses are tapping into the oil and gas supply chain. This is an observation from the Georgetown Chamber of Commerce and Industry (GCCI). Officials from the Chamber noted that some Guyanese entrepreneurs established new...

ExxonMobil Guyana said on Friday an issue has been encountered with the gas compressor system onboard the Liza Destiny FPSO and the company is working with the operator of the vessel to have the matter rectified. In an operations update,...

As Guyana embarks on its second year as an oil-producing nation, Chief Economist at the American Petroleum Institute (API), Dr. Dean Foreman, said it is in the country’s best interest to remain focused on building on its success and...

The hull for the giant Prosperity FPSO targeting ExxonMobil’s third development offshore Guyana is complete and the vessel is now moving to the next stage of construction in Singapore. Greg Hill, Chief Operating Officer at Hess Corporation, a 30% stakeholder...

By Marla Dukharan - Economist and leading advisor on the Caribbean The World Bank estimates Guyana’s economy grew 23.2% y/y in 2020 and forecasts growth at 7.8% in 2021. Interest rates declined in 2020, with the average prime lending rate...