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U.S condemns Venezuela aggression towards Guyana, pledges support for ICJ proceedings

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The United States over the weekend made it clear that it remains in full support of Guyana’s bid to have the International Court of Justice (ICJ) preside over the matter involving Venezuela’s refusal to accept an 1899 arbitral award...
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Separate law for local content won’t guarantee success – Greenidge

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Since the discovery of oil in Guyana back in 2015, there have been mounting calls for Local Content Legislation. While some believe this legal backing may be helpful in the country’s bid to ensure locals are able to enjoy the maximum...
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Oil prices fall on renewed coronavirus concerns

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(Reuters) - Oil prices fell on Monday on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world’s second-largest oil user, after a jump in cases there. Brent crude oil...
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Guyana moving to rapidly establish legislative agenda for oil and gas

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The Guyana government is moving towards the urgent development of a legislative framework to manage the oil and gas sector, and among the tasks on the agenda is the development of laws that will allow for use of the...
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Production and decommissioning of a well

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Production is the longest phase in the well’s life and may last for years or even decades. Over time, production declines and, eventually, will be too low to continue to operate the field. But, during a field’s productive life,...
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Guyana could establish LPG, protein plant in Region 3 as part of major development drive

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The gas-to-power project which is a major initiative being undertaken in Guyana will see a pipeline landing in Wales, on the West Bank of the Demerara River, Region Three, where the government is looking to develop a commercial zone,...
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India’s annual oil consumption falls for first time in 21 years

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(Bloomberg) India’s petroleum consumption fell for the first time in more than two decades in 2020 as the coronavirus pandemic shuttered businesses and factories, hurting demand from one of the world’s largest users of the fuel. Total petroleum demand declined...
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Guyana responds to new Venezuela decree

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President of Guyana Dr. Irfaan Ali on Saturday addressed the nation in response to a new decree issued by Venezuelan President Nicolas Maduro claiming sovereignty and exclusive sovereign rights in the waters and seabed adjacent to Guyana’s coast, west...
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Local Content Panel agreed policy should not lead to monopolies – Greenidge

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Following several rounds of consultations with industry stakeholders, Guyana’s Local Content (LC) Panel which was assembled September last by President Irfaan Ali to prepare recommendations for consideration by the Government, was in agreement that the nation’s policy should not...
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Guyana initiates meeting with Trinidad and Tobago to discuss trade barriers

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Just a month after Guyana’s President, Dr. Irfaan Ali, vowed to ensure that trade barriers between the new oil producing country and its CARICOM neighbours were removed, a virtual Joint Ministerial Trade and Agricultural Meeting with Trinidad and Tobago...
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PETRONAS secures deepwater Block 66 in Suriname with new contract

PARAMARIBO SURINAME - Staatsolie has signed a production sharing contract (PSC) with PETRONAS Suriname E&P B.V. (PSEPBV) and Paradise...

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