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US$900M gas-to-energy project attracting investors from across the world – Bharrat

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Following the publication of an Expression of Interest (EOI) in July for investors to collaborate with the Guyana government and ExxonMobil on the US$900 million gas-to-energy project, authorities have received over 30 responses, says natural resources minister, Vickram Bharrat....
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New oil more competitive, significantly cheaper to produce – Rystad Energy

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Following its latest analysis of supply costs within the upstream sector, Rystad Energy, a research and business intelligence company based in Norway, has found that new oil discoveries are now more competitive and cheaper to produce. Expounding in this regard,...
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Ghana provides more support to Guyana on its wealth fund, local content legislation

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Fruitful discussions continue between Guyana and the West African nation of Ghana. The two countries held a meeting this week to press on with a joint consultation on Guyana’s Natural Resources Fund (NRF) and its highly anticipated local content...
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Guyana’s limited workforce cannot focus entirely on oil and gas, diversifying economy is key

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Creating local jobs, building capacity and focusing on in-country value from monies spent are key elements of local content and cannot be seen in isolation of the broader economy. So says Director of the Centre for Local Business Development,...
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JP Morgan says $125 a barrel oil price is coming

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(Reuters) - Oil prices are expected to overshoot $125 a barrel next year and $150 in 2023 due to capacity-led shortfalls in OPEC+ production, JP Morgan Global Equity Research said. "As the group's (OPEC+) real volume potential is discovered, this...
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Four nations offer Guyana a clear path to beating dreaded resource curse – Dr. Blackman

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The sheer volume of Guyana’s multi-billion-barrel Stabroek Block discoveries has presented it with a golden opportunity for fundamental societal transformation. But to make this happen, the South American oil producer has to overcome the dreaded “resource curse” says Dr....
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Guyana remains top priority in Exxon’s portfolio, company says in new update

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ExxonMobil said in an update on Wednesday that it plans to prioritize its investment in Guyana as well as Brazil, and the Permian Basin in the United States. The company’s corporate plans through 2027 will support its strategy of...
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Exxon says Liza Destiny FPSO production volumes in full compliance with regulations

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The Liza Destiny floating production storage and offloading (FPSO) vessel has been operating offshore Guyana since December 2019, producing oil at the ExxonMobil-operated Stabroek Block. A company spokesperson said on Wednesday that production rates on the FPSO has always...
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Oil edges up as investors adjust positions

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(Reuters) - Oil prices rose on Thursday, more than recouping the previous day's losses, as investors adjusted positions ahead of an OPEC+ decision over supply policy, but gains were capped amid fears the Omicron coronavirus variant will hurt fuel...
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International firms bidding to conduct environmental baseline studies in Guyana

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The Government of Guyana through the Ministry of Natural Resources has received bids from several international firms to conduct the Strategic Environmental and Social Assessment (SESA) baseline studies, the Department of Public Information (DPI) said on Wednesday. According to last...
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Energy Chamber urges gas independence amid Venezuela’s suspension of energy deals

The Energy Chamber of Trinidad and Tobago is urging the government to accelerate efforts to boost domestic gas production...

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