News

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...

Since issuing a new decree on January 7 in what Venezuelan President, Nicolas Maduro, described as “a new maritime territory”, Guyana’s Minister of Foreign Affairs, Hugh Todd, said there has been increased activity in Guyana’s maritime space by Venezuelan...

More than 2700 Guyanese companies have been invited to learn more about key contracts and upcoming tenders in oil and gas, as ExxonMobil Guyana and co-venturers Hess and CNOOC get ready to stage the Guyana Supplier Forum 2021, hosted...

Chief Operating Officer (COO) of Hess Corporation, Greg Hill, confirmed during his company’s 2020 fourth-quarter earnings call on Wednesday that ExxonMobil, operator at the Stabroek Block, will be adding the Stena DrillMAX and Noble Sam Croft to its fleet,...

While the Liza Phase 2 development remains on track for first oil in early 2022, the overall project, including the floating production storage and offloading (FPSO) vessel and the drilling and subsea infrastructure are approximately 85% complete. At this...

Hess Corporation, a 30% co-venturer on Guyana’s Stabroek Block, announced on Wednesday that it suffered a net loss of US$97 million, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of US$222...

The United States and the Organisation of American States (OAS) on Wednesday added their voices to the mounting regional and international condemnation being directed to the Maduro regime over the illegal detention of Guyanese fishing vessels and their crew...

The International Monetary Fund (IMF) said in an updated forecast that oil prices are expected to average just above $50/b in 2021, a more than 21% rise from 2020's depressed level, as the rollout of vaccines and fiscal stimulus...

CGX Resources Inc. has submitted applications to the Environmental Protection Agency (EPA) in Guyana for Environmental Authorization to drill two exploration wells offshore the South American country. The company has applied for approval to drill one well each at...