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Bureaucracy, red tape must not obstruct O&G development in Guyana, Sea Defence Board hears

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One of the state boards responsible for the approval of shorebase and waterfront developments, and other such facilities, has been warned that bureaucracy and red tape must not impede Guyana’s development, as the country is on track to experience...
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Use O&G revenue to unlock infrastructure, human capital – urges private sector leader

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Guyana’s Private Sector Commission (PSC) Chairman, Nicholas Deygoo-Boyer says the billions of dollars expected from oil production should be used to help develop infrastructure and unlock the power of human capital in the South American country. In a recent virtual...
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Venezuela oil exports fall to new historic low

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(Reuters) - Venezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according...
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Qatar using $40 oil price to formulate its budget

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(Bloomberg) --Qatar will base its budget on an oil price of $40 a barrel, below what markets expect, as the gas-rich Gulf nation seeks to reduce the impact on its finances, according to its ruler. The move will help Qatar...
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Hess sees more upside to Guyana’s 9 billion boe estimate, big potential in Santonian

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A further increase in the gross recoverable resources is anticipated at Guyana’s Stabroek Block, adding to the recently upgraded 9 billion boe estimate, according to Hess Corporation. Greg Hill, Chief Operating Officer, explained to investors on the company’s Q3 earnings...
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Oil prices extend rally ahead of U.S. election

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(Reuters) - Oil prices extended their rally on U.S. Election Day amid a recovery in financial markets on Tuesday but concerns over surging coronavirus cases around the world capped further gains. Brent crude futures rose 70 cents, or 1.8% to $39.67...
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CARICOM examining role of Guyana’s hydrocarbon resources in regional energy security

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As the Guyana government presses on with plans for a natural gas power generation plant to provide cheaper and more reliable energy to its citizens, the Caribbean Community (CARICOM) Secretariat is also looking at how the country’s oil and...
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Oil search to continue at Hassa-1, stem test planned for Redtail

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Activities offshore Guyana are set to ramp up in the coming months as the search for more oil continues and targets that have already hit pay, are scheduled to be assessed. Subsea construction for the second phase of oil...
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Liza Phase 2 hull, subsea work now 80% complete – Guyana production on track to surpass 300,000 bpd

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ExxonMobil’s giant Liza Phase 2 development offshore Guyana is on track to begin producing oil by early 2022 adding another 220,000 barrels of oil per day (bpd) at peak to the country’s output, which together with the 120,000 bpd...
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Oil falls 4% on fuel demand concerns as Europe widens COVID-19 lockdowns

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(Reuters) - Oil prices fell 4% on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand and amid concerns about turbulence over this week’s U.S. presidential election. Brent crude futures for January dropped $1.49, or 3.9%,...
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Guyana launches Global Student Exchange with EU & UG on health, oil and gas, engineering sectors

The European Chamber of Commerce Guyana (ECCG), in partnership with the European Union and the University of Guyana (UG),...

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