Notwithstanding Guyana’s evolving trillion-dollar oil and gas sector, the government is intent on demonstrating its commitment to the development of a cleaner, greener, and more diversified energy matrix. Towards this end, the Inter-American Development Bank (IDB) is currently in...
ExxonMobil Guyana disclosed on Tuesday that it recently conducted an exercise to field test spill response equipment, processes, and team readiness. It said this exercise was intended to ensure readiness to respond in the unlikely event of an offshore...
ExxonMobil is scaling back its operations on its flagship offshore development project in Russia's Sakhalin Island region in response to the fallout from the crisis in Ukraine, Upstream reported on Tuesday, citing information on the Sakhalin Online news website.
A consortium source...
Shell International BV (Shell), one of the largest oil companies in the world, on Monday announced that it intends to join other oil majors in exiting equity partnerships held in Russia in response to the barbaric invasion of Ukraine.
Shell...
During his tenure as Head of Environmental Protection Agency (EPA)--October 1, 2018, to August 2020--Dr. Vincent Adams had stated, repeatedly, that he was able to secure an agreement with ExxonMobil Guyana for insurance coverage totalling US$2.5B.
On Monday, ExxonMobil Guyana...
Lawmakers in Guyana approved the first withdrawal from the country’s Natural Resource Fund on February 10 allowing for US$607 million, all the revenue in the fund, to be removed. The first withdrawal, which amounts to about GY$126 billion, will...
The extent of the development projects offshore Guyana within such a short space of time since the first oil discovery in 2015 is being viewed as ‘unbelievable’ by Norway-based energy research and business intelligence company, Rystad Energy. Now, the...
Hydrocarbon resources diminish over time but the need for food remains central in the human existence. Guyana now has an unprecedented opportunity to modernize and mechanise its agriculture sector so that long after the oil is gone, the South...
(S&P Global Platts) Norway's Equinor said Feb. 28 that it has decided to stop new investments in Russia and start exiting from joint ventures because of Russia's invasion of Ukraine, according to a statement issued by the company.
Equinor's announcement...
(Reuters) - Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.
Brent crude rose $4.16, or 4.3%,...
