News

QatarEnergy and Shell have cemented their partnership with the signing of two significant long-term LNG sale and purchase agreements (SPAs) for the supply of up to 3.5 million tons per annum (MTPA) of liquefied natural gas (LNG). The agreements...

The persistent conflict between Israel and Hamas, the Palestinian militant group, is casting a looming shadow over the regional natural gas market. This situation raises concerns about the potential repercussions for Europe's liquefied natural gas (LNG) supply as the...

The U.S. Department of Energy has taken steps to acquire six million barrels of crude oil, scheduled for delivery between December and January, as part of its energy security strategy. Market reports suggest that the purchase contracts will be...

Guyana's hospitality industry is experiencing significant growth in tandem with its booming oil and gas sector, resulting in a surge of internationally branded hotels being constructed in and around the nation's capital, Georgetown - the epicenter of the oil...

A new hydroponic farming project initiative has been launched in Guyana - the largest in the Caribbean, according to President, Irfaan Ali with 300 young Guyanese being the beneficiaries.  The funding comes from the Greater Guyana Initiative (GGI) - a...

Guyana’s Vice President Bharrat Jagdeo said on Thursday that the government does not intend to alter its new production sharing agreement (PSA) to suit ExxonMobil - the lone producer offshore. The new terms do not apply to the Stabroek Block...

China Merchant Heavy Industries (CMHI) has awarded a contract to TMC Compressors (TMC) to deliver a marine compressed air system for a new build production vessel being constructed for SBM Offshore. TMC will supply a large-capacity marine compressed air system,...

ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...

The United States has announced the easing of sanctions on Venezuela after the government and opposition reached an agreement to have next year's election monitored by international observers. These sanctions relief measures will target Venezuela's oil, gas, and gold...

The start-up of ExxonMobil Guyana’s third Stabroek Block development is imminent, with company President, Alistair Routledge confirming that the project will be up and running soon.  “We’re still on course to start off Payara by the end of this year....