News

The Lancetfish reservoir in Guyana’s Stabroek block has delivered more oil, Hess Corporation announced on Wednesday in its earnings statement.  Hess said the Lancetfish-2 appraisal well encountered approximately 125 feet of net oil pay in appraisal reservoirs and approximately 65...

The move by Chevron to buy out Hess was not so much a surprise to Americas Market Intelligence (AMI) Director of Energy, Arthur Deakin. Why? Because of the current market trend of majors with deep pockets taking over smaller...

Official Statement His Excellency Dr. Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana and Mr. Aubrey C. Norton, MP., Leader of the Opposition met at the Office of the President on Tuesday, October 24, 2023, to discuss the...

Venezuela’s national referendum on the Guyana border controversy is the latest in a series of actions from the Maduro regime in support of its claim to more than two-thirds of Guyana's territory. But Director of Energy at Americas Market...

The Government of Guyana has issued a strong statement expressing its firm rejection of the recent move by the National Electoral Council of the Bolivarian Republic of Venezuela to include questions in a national referendum, scheduled for December 3,...

In the first three quarters of 2023, Guyana received US$1.038 billion in oil revenues, representing a 32% increase compared to the US$786 million received during the same period in 2022. Disaggregated, the government’s natural resource fund (NRF) received US$872.83...

ExxonMobil Guyana said it remains on track to complete the pipeline for the country’s Gas-to-Energy project set to come online in 2024.  Providing an update on October 17, President of the company, Alistair Routledge, said pipelaying is currently underway in...

Affiliates of QatarEnergy and Eni have signed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) for the supply of up to one million tons per annum (MTPA) of LNG from Qatar to Italy. Pursuant to the SPA,...

Chevron Corporation announced on Monday that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on...

In a notable move that may have significant implications for the future of U.S. oil production, ExxonMobil's recent acquisition of Pioneer Natural Resources for US$64.5 billion is drawing attention and praise. The deal, the largest in the upstream industry...