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Venezuela increasingly isolated in bid to grab territory from Guyana through ‘illegal decree’

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The Caribbean Community on Tuesday joined with Guyana and the international community in condemning the move by President of Venezuela, Nicolas Maduro, to claim sovereignty in the waters and seabed adjacent to Guyana’s coast, west of the Essequibo River,...
News

Ford puts brakes on operations in South America’s largest oil producing nation

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(AP) — Ford Motor Co. said Monday it will close three plants in Brazil and stop producing automobiles in the South American country where it has been operating since 1919. The company said in a statement it will cease production...
News

Guyana political parties, stakeholders roundly condemn Venezuela ‘illegal decree’

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In a rare show of unity among the two major political parties in Guyana, both groups have issued statements strongly condemning the move by Venezuelan President Nicolas Maduro to issue a decree claiming sovereignty in the waters and seabed...
News

Oil holds close to 11-month high, edges above $56

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(Reuters) - Oil rose above $56 a barrel on Tuesday and stayed close to an 11-month high, as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally. Saudi Arabia has said it...
News

Trotman slams Global Witness over ‘abominable, dirty deed’ as “Signed Away’ is withdrawn

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Former Guyana Minister of Natural Resources, Raphael Trotman, on Monday released a statement heavily criticizing international NGO, Global Witness, in wake of the organisation’s move to withdraw its controversial report - Signed Away – issued in February 2020. Below is...
News

Goldman sees Brent hitting $65/b by June

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(S&P Global) Goldman Sachs sees Brent crude rising to $65/b by the middle of 2021, up to six months earlier than previously forecast, as a demand boost from the rollout of COVID-19 vaccines and potential delays in restarting OPEC+...
News

Guyanese garment manufacturers outfitting Prosperity FPSO construction crew in Singapore

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Two local companies—Denmor Garments Manufacturers Inc. and Caribbean Clothing Company Ltd.—have secured contracts to manufacture a total of two thousand coveralls for construction workers in Singapore. The workers are supporting construction of the Prosperity, which will become the third...
News

Global Witness withdraws report on Guyana, cites overestimation of potential economic benefits from oil production

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International NGO, Global Witness, has withdrawn its highly controversial report - Signed Away – that focused on the fiscal terms of the Stabroek Block Production Sharing Agreement Guyana has with ExxonMobil. Below is the full statement from Global Witness. Statement on...
Exploration

Bulletwood, Bonboni key wells to watch as exploration takes off in the Americas this year – Westwood

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Guyana and Suriname remain two major hotspots for exploration activity in 2021 with a number of key wells to watch as the Americas take the lead in the hunt for hydrocarbon resources this year. Westwood Global Energy Group said in...
News

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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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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