News

Approval of Payara this month will keep 2023 first oil target on track – Hess

Although already delayed since 2019, if the Payara development is approved by the end of September, this will ensure that the 2023 timeline for oil production start-up remains on track, adding another 220,000 barrels of oil per day to...

TT Energy Chamber launches Local Content Management System

The Energy Chamber of Trinidad and Tobago on Wednesday launched its Local Content Management System (LCMS), the first of its kind in the region, which seeks to establish a robust framework to estimate the proportion of a dollar spent...

Shell acquires Kosmos’ offshore interests in Suriname

Kosmos Energy on Wednesday said that it has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell PLC, to farm down interests in a portfolio of frontier exploration assets for approximately...

Tullow still processing ‘heavy oil’ data from Guyana discoveries

UK-based Tullow Oil said on Wednesday it is still processing data from the discoveries it made last year at the 1,800km2 Orinduik block offshore Guyana. The block partners had found oil at the Jethro-1 and...

Payara, other offshore developments will help push Guyana’s long-term growth plans – Natural Resources Minister

As the volume of petroleum resources at the prolific Stabroek Block offshore Guyana continues to increase with yet another discovery announced by US oil major ExxonMobil on Tuesday, the country’s Minister of Natural Resources says the Payara development, which...

Oil companies commit to have contractors address equal pay concerns – Labour Minister

Guyana’s new Minister of Labour, Joseph Hamilton has been engaging oil companies to address issues in the oil and gas sector such as equal pay for Guyanese workers. According to the official, companies including ExxonMobil and Tullow Oil have...

Guyana Local Content Panel looking to begin consultations – Vickram Bharrat

Guyana’s Minister of Natural Resources Vickram Bharrat said on Tuesday that the recently appointed Local Content Advisory Panel has already commenced work and will soon be holding consultations and workshops with the relevant stakeholders. He was at the time speaking...

Latin America’s renewable energy capacity set to skyrocket

Latin America is emerging as a green powerhouse, with some of the strongest renewable capacity growth expected globally in the coming years, Rystad Energy said in a report on Tuesday. With auctions already adopted throughout Latin America, the Norway-based...

Another Strike: ExxonMobil announces Redtail Discovery Offshore Guyana

Oil discovery is 18th offshore Guyana; follows discovery at Yellowtail-2Adds to previous estimate of more than 8 billion barrels of discovered recoverable resource ExxonMobil has made its 18th discovery offshore Guyana at the Redtail-1 well which will add to the previously announced estimated...

Oil revenue will not be used for emergency budget – Guyana Vice President

Authorities in Guyana said on Monday no revenue from the country’s growing Natural Resources Fund (NRF) account will be used for an emergency budget set to be presented this week. In December 2019, Guyana began producing oil at the ExxonMobil-operated...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...