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2020 expected to be a ‘one and done’ recession as oil demand set to bounce back – API

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The enormous challenges triggered by the COVID-19 pandemic this year have caused major disruptions to the global oil and gas industry resulting in thousands of lay-offs, multiple shut-ins and mounting uncertainties about the future of petroleum exploration and production....
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Yellowtail could add another 220,000 bpd to Guyana output, 7 floaters on the cards – Hess

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Though the Hammerhead area was targeted for the fourth development project in the Stabroek block offshore Guyana, the high quality oil discovered back in July during the appraisal drilling at the Yellowtail field has changed the plans for the...
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Pompeo discusses leveraging Guyana’s wealth of natural resources with President Ali

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Shortly after arriving in Guyana on Thursday, U.S. Secretary of State Michael R. Pompeo met with President Irfaan Ali, during which the two leaders discussed several matters including leveraging Guyana’s wealth of natural resources for the country's development. Following his meeting with the...
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Department of Energy remains operational, actively involved in Payara negotiations – Vickram Bharrat

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Guyana’s Minister of Natural Resources, Vickram Bharrat, told Members of Parliament on Tuesday that the Department of Energy (DE) remains operational and is actively involved in the ongoing negotiations with ExxonMobil for the Payara development; its 3rd proposed project...
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Saudi Arabia denounces OPEC+ members trying to cheat oil quota

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(Bloomberg) --Saudi Arabia showed its determination to stop OPEC+ members cheating on their production quotas, delivering a thinly veiled dressing-down to its closest ally in the region, the United Arab Emirates. Prince Abdulaziz bin Salman, the Saudi energy minister, forcefully...
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With the 3rd largest oil reserves in the world – Canada stands ready to help new producer Guyana build capacity – High Commissioner

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Guyana is being encouraged to harness the decades of experience in the petroleum industry that Canada has to offer, as the South American country moves to develop its vast hydrocarbon resources. This advice came from Canada's High Commissioner to Guyana, Lilian...
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Upfront investment in proprietary data, technology behind multi-billion-barrel discoveries offshore Guyana – ExxonMobil

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The unprecedented success rate for discoveries that ExxonMobil has had offshore Guyana since 2015 is being attributed to proprietary seismic data and technology the company has developed over the years. Company officials told participants at the Caribbean Virtual Oil and...
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Guyana, United States set to sign ‘Growth in the Americas’ MoU to push energy, infrastructure investments

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U.S. Secretary of State Michael R. Pompeo’s visit to the new oil producing country of Guyana will see the signing of a Memorandum of Understanding (MoU) geared towards improving the investment environment in the South American nation. According to a Senior State...
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Use oil revenues to push diversification agenda before window of opportunity is lost – Nokta urges

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President of the Guyana Manufacturing and Services Association (GMSA) Shyam Nokta believes that now is the time that Guyana must make the most of the opportunities to strengthen the South American country’s traditional economic sectors given not only the...
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Respect for international law and norms critical at this time, vital for oil and gas – Mia Mottley

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The emergence of Guyana and Suriname as key energy producers in CARICOM has the potential to significantly increase cross-border trade, investment, and regional prosperity. However, Prime Minister of Barbados, Mia Mottley, is warning that this will only be successful...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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