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Guyana on brink of becoming one of world’s largest oil holders; careful management is key, says EITI

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Recent Atlantic offshore oil discoveries have promised to generate an economic boom for Guyana and its’ citizens, the Extractive Industries Transparency Initiative (EITI) said, pointing out that mainly left unexplored until 2015, the nation is now on the brink...
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Touchstone makes ‘light oil’ discovery in Trinidad

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Touchstone Exploration Inc. on Monday announced the results of the first of three planned production tests at its Royston-1 exploration well which has confirmed a light oil discovery in the lowermost section of the well. The section tested was...
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COP26: IDB pledges US$24 billion for climate and green finance over the next four years

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The Inter-American Development Bank (IDB), a leading source of long-term financing for development in Latin America and the Caribbean, announced last week that it pledged US$24B for climate and green financing for its 26 members over the next four...
News

Guyana oil must help supply 24 million bpd demand in 2050, says Vice President

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It was in May this year that the International Energy Agency (IEA), one of the most reputable global research institutes on energy, released a landmark report which recommended no new fossil fuel exploration or development if the world is...
News

Dutch company plugs over US$332,000 into mangrove restoration in Guyana

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Dutch floater specialist SBM Offshore signed a Memorandum of Understanding with the National Agricultural Research and Extension Institute (NAREI) in Guyana on October 26, which will see the company funding a Mangrove Restoration Project along a section of the...
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Rich countries’ climate policies are colonialism in green

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By Vijaya Ramachandran, the director for energy and development at the Breakthrough Institute. This article was first published by Foreign Policy.  With natural gas prices at record highs in Europe, Norway is raking it in. The country is Europe’s second-largest...
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Energy Chamber enters tripartite agreement for capacity building

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The Guyana Oil and Gas Energy Chamber (GOGEC) has entered into a tripartite agreement with the University of Guyana and CBMEX Energy Guyana Inc. GOGEC said the objective of this Memorandum of Understanding (MoU) is to work in close collaboration...
Exploration

Recent Stabroek discoveries delivered extraordinary sand quality, says co-venturer with 30% stake

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The most recent string of discoveries made this year at Guyana’s Stabroek Block are being recognized for their significant volumes and sand quality. They’ve also played a key role in ramping up the estimated gross recoverable resources to 10...
News

Venezuela slashes daily oil production target to 1 million barrels

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(Bloomberg) Venezuela’s state oil company slashed its output target by one-third as years of corruption, brain drain, and inadequate investment crippled the nation’s energy infrastructure. PDVSA cut its daily production target to 1 million barrels from a 1.5-million-barrel goal announced in...
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Oil settles higher fuelled by renewed supply concerns

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(Reuters) - Crude prices settled higher on Friday fuelled by renewed supply concerns after OPEC+ producers rebuffed a U.S. call to accelerate output increases even as demand nears pre-pandemic levels. Brent crude rose $2.20 to settle at $82.74 per barrel,...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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