News

What is the Stabroek Block Production Sharing Agreement? The Stabroek Block Production Sharing Agreement (PSA) is the contract that governs all current offshore oil production in Guyana. It sets out the terms under which oil is explored, produced, and shared...

Guyana is moving to contract a large-scale 3D marine seismic survey covering deepwater offshore blocks that were left unawarded or unresolved in the country’s first oil and gas auction, signaling preparations to re-offer the acreage. The Environmental Protection Agency has...

China National Offshore Oil Corporation (CNOOC) announced Wednesday that it has made a major oilfield discovery at the Qinhuangdao 29-6 asset in the shallow Neogene formations of the Bohai Sea. This marks the seventh consecutive discovery of a hundred-million-tonne-class oilfield...

Guyana’s Natural Resource Fund is the country’s sovereign wealth fund. It is the legal vehicle through which revenues from oil production are collected, saved, and transferred into the national budget. All government earnings from offshore petroleum production flow first...

ExxonMobil Guyana has won the Corporate Citizenship Award from the Georgetown Chamber of Commerce and Industry (GCCI), the company’s President Alistair Routledge said on Tuesday in a LinkedIn post. “ExxonMobil Guyana Ltd exemplifies ethical leadership, strong corporate governance and meaningful...

EOG Resources has received environmental approval to drill two offshore gas wells off the coast of Trinidad. The Environmental Management Authority of Trinidad and Tobago has issued a Certificate of Environmental Clearance (CEC) to EOG Resources for the drilling of...

Tanker loading in Venezuela has slowed sharply in recent days as U.S. enforcement actions against oil shipments collide with a cyberattack that has disrupted operations at state-run oil company PDVSA, compounding pressure on the country’s crude exports, Reuters reported...

Trinidad and Tobago Prime Minister Kamla Persad-Bissessar on Sunday accused the Caribbean Community (CARICOM) of engaging in what she called “zone of peace fakery”, warning that opposition to a U.S. military presence in the region risks emboldening Venezuelan “dictator”...

Guyana’s rapid economic expansion, driven by oil and gas, agriculture, construction, mining and infrastructure growth, has created an unprecedented demand for certified welders.  Over the last year, the Government of Guyana’s (GoG) partnership with Nations University’s School of Technology City...

Guyanese investors must be the primary owners of a planned fertilizer plant and a gas bottling and logistics company at Wales on the West Bank of Demerara, with the government prepared to underwrite investor returns, Vice President Bharrat Jagdeo said on...