News

Saipem has been awarded a contract by Aker BP for a drilling campaign offshore Norway. The operations are expected to start from the end of Q4 2022, upon termination of the works in which Scarabeo 8 is currently engaged. Scarabeo...

Oil field service company Halliburton announced on Friday that has immediately suspended future business in Russia as the company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton said it will prioritize safety and...

Guyana’s Attorney General and Minister of Legal Affairs, Anil Nandlall, says government will not institute price control mechanisms as a response to rising prices of various commodities. He made the comments during his weekly live show ‘Issues in The...

(Reuters) - Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre prolonged disruption to oil supply. Brent crude futures...

Guyana’s landmark gas-to-energy project will reduce emissions significantly when it becomes operational since the South American country currently utilizes heavy fuel oil to generate power. One expert also said emissions can be reduced even further with the use of...

Surging commodity prices and international sanctions levied against Russia following its invasion of Ukraine are expected to significantly depress global economic growth, says the International Energy Agency (IEA) in its March 2022 Oil Market Report (OMR). The IEA said as...

ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is drilling yet another well, Kiru Kiru-1, at the Stabroek Block offshore Guyana. A notice from Guyana’s Maritime Administration Department (MARAD) stated March 14 as the start date for drilling activities,...

Guyana is now closer to launching its first major initiative in renewable energy. The Environmental Protection Agency (EPA) recently granted approval for construction of the US$45M Hope Wind Farm Project. This represents the first substantial utility-scale renewable energy initiative...

The Private Sector Commission (PSC) of Guyana and the Suriname Trade and Industry Association held the first meeting of the Guyana-Suriname business council in Paramaribo after it was formed to tackle several broad, ambitious cooperation objectives. The council consists of...

Guyana’s President Dr. Mohamed Irfaan Ali underscored the need for Guyana to build long term resilience against disruptions caused by oil and gas price volatility, during an address at the commissioning of a well on Tuesday, to improve access...