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All systems being put in place for hook-up of world’s first Fast4Ward® FPSO

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All systems are being put in place for Guyana’s second oil production vessel which will depart Singapore in June for the South American nation. The Liza Unity floating production storage and offloading (FPSO) unit will have double the capacity...
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Low Indian demand offsets oil’s recovery

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(Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic. Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the...
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Wales to be like Point Lisas but a little bit more eco-friendly – VP Jagdeo

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The Guyana government’s highly anticipated US$900M gas project is expected to pave the way for a massive industrial park to be housed at Wales. According to Vice President, Dr. Bharrat Jagdeo, the Wales development will have similar characteristics to...
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Exxon expects ‘continued and steady progress’ in Guyana’s multi-billion-barrel basin

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As the global oil and gas industry continues to recover from the impact of the pandemic, ExxonMobil has reported that its production volumes are rising from 2020 levels, and for the first quarter of this year, output at the...
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EPA organizing public hearing into appeals over oil and gas waste treatment facility

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The Environmental Protection Agency (EPA) in Guyana says the Environmental Assessment Board (EAB) will be conducting a public hearing on Monday, May 10, at the Soesdyke/Huist’ Coverden Neighbourhood Democratic Council into appeals submitted against the development of an oil and...
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Suriname official encourages collaboration in oil spill prevention and response

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As oil and gas operations offshore Guyana and Suriname intensify in the Guyana-Suriname Basin, the importance of collaboration between the two countries in preventing and responding to oil spills has been emphasised by Suriname’s Minister of Natural Resources, David...
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Exxon puts $2.7 billion in earnings on the books for first quarter

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U.S. oil major Exxon Mobil Corporation today announced estimated first quarter 2021 earnings of $2.7 billion, compared to a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, the company...
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Guyana will be looking to sell oil blocks to highest bidders, country could retain some acreage

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Guyana’s President Dr. Irfaan Ali confirmed this week that an entirely new system for the allocation of oil blocks will soon be used, signaling the government will move away from direct one-on-one negotiations with International Oil Companies (IOC) and...
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Designs under review for gas-to-shore plant in Guyana

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As the Irfaan Ali administration goes full throttle with the proposed Wales gas-to-shore project in Guyana, plans are now under review to determine what type of power plant will be used. United Kingdom Petroleum Expert, Simon Shaw who now serves...
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Competitors for oil and gas contracts are shrewd, Guyanese companies must learn to adapt – President Ali urges

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Guyana’s Head of State, Dr. Irfaan Ali disclosed on Wednesday that local content provisions will be put in place to ensure competitive services provided by Guyanese will be given priority by oil companies. During his latest engagement with reporters, President...
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PPP/C outlines Energy Priorities: Gas-to-Energy, Local Content, post-oil planning

Maintaining Guyana’s “favorable” fiscal regime with no increase in royalties and bringing the Gas-to-Energy project online are among the...

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