News

High cost of finance and issues with accessibility must be addressed as Guyana economy takes off

New businesses are being established in Guyana and existing organisations are adjusting and realigning the services they are providing to better meet the needs of the growing oil and gas industry. However, many continue to face challenges with accessing...

After seizing assets from Exxon & ConocoPhillips, Maduro now says Venezuela open to oil investments

(Bloomberg) --Inside a chic lounge, oil lobbyists and executives rub shoulders as Spanish, French and Italian can be heard in the halls. This isn’t the ZaZa boutique hotel in Houston, where global energy top brass like to stay. It’s...

Siemens awarded EPC contract for South America FPSO

Siemens Energy said Friday it was awarded a topside EPC contract by MISC Berhad for eight complete topside modules that will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression...

Infrastructure to support Guyana oil industry being aggressively pursued, official tells summit

While Guyana’s offshore oil and gas industry rapidly expands, infrastructure will have to be developed onshore to support the activities in the industry. Participants at the Guyana Basins Summit were told this week that the Guyana government is pursuing...

Guyanese taxpayers will have to foot the bill for any inefficiencies triggered by local content rules – Floyd Haynes

Forcing oil and gas companies to utilise local firms that do not yet possess the necessary skills and capacity will cost Guyana in the long run. Professor and Member of the country’s Local Content Panel, Floyd Haynes, recently shared...

Trinidad LNG industry in decline as Guyana eyes pipeline, regional export potential

Trinidad and Tobago (TT) is one of the region’s largest producers and suppliers of Liquified Natural Gas (LNG), however, the twin-island republic has been experiencing a steady decline over the years. Now, analysts are reporting a more worrying future...

Gas pipeline will bring major economic, environmental and social benefits to Guyana – Ramnarine

When the new administration in Guyana announced last year that it was moving ahead with the planned gas-to-shore project that would be underpinned by the Liza Phase 1 Development at the Stabroek Block, some stakeholders asked - can it...

Oil remains biggest prize as 2021 set to see lowest number of wells targeting gas in a decade – Westwood Energy

Even though the world is witnessing an unprecedented increase in efforts to transition to cleaner sources of energy starting with natural gas, there is still very little evidence of explorers going after this resource for 2021. This is according...

Development of mega Guyana-Suriname shore base facility must be pursued – Staatsolie boss

With Guyana and Suriname poised for significant expansion in their offshore oil exploration and production activities, the need for adequate shore base facilities will become more pressing and therefore needs to be urgently addressed. This point was raised on...

Guyana government in discussion with oil company on deepwater harbour project

The Guyana government has commenced discussions on the much-anticipated deepwater harbour being developed in Berbice by an oil and gas operator. Minister within the Ministry of Public Infrastructure, Deodat Indar, during a Globespan24X7 interview on March 15, disclosed that...

Latest News

Guyana excelled across most investment metrics, except licensing speed, S&P says

Guyana’s first competitive offshore licensing round affected one component of its investment attractiveness score, but the country remains among...