News

Production at Brazil’s state-run Petrobras hit close to four million barrels a day in this quarter, according to its chief executive officer, Jean-Paul Prates.  In a post on X (formerly Twitter), Prates said Petrobras began producing oil in 1953 with...

In a highly competitive bid, 25 prominent companies from around the world are vying for the crude marketing contract for Guyana's oil entitlement from the Stabroek block.  The list of contenders includes energy giants such as Saudi Aramco, Equinor, Eni,...

Going to arbitration would be the “last resort” for ExxonMobil Guyana Limited (EMGL) to resolve the 1999-2017 audit of its Stabroek Block expenses. This is according to EMGL's President, Alistair Routledge.  The process remains without closure as Exxon is still...

Unbothered seems to be the position of ExxonMobil Guyana Limited (EMGL) in response to the recent grandstanding by Venezuela - the Nicolas Maduro-led nation laying claim to two-thirds of Guyana’s territory.  Irked by the news of the bid round, Venezuela...

The U.S. government has amended the Dragon gas license to allow Venezuela’s state-run PDVSA to receive payment from Trinidad and Tobago in any currency or in humanitarian aid.  The United States had said any cash payments to the Venezuelan government...

ExxonMobil has submitted its field development plan (FDP) for the massive Whiptail project - its sixth for the Stabroek Block offshore Guyana. This is according to ExxonMobil Guyana Limited's (EMGL) President, Alistair Routledge. "...so that has commenced the process...

High hopes exist in Guyana for oil production outside of the Stabroek Block.  This is evidenced by recent statements from the Minister of Natural Resources, Vickram Bharrat who said that the Corentyne Block could move to production in the next...

The International Monetary Fund (IMF)’s recent report forecasted a 38.4 percent real Gross Domestic Product (GDP) growth rate for Guyana in the current year, with expectations of a continued expansion at 26.6 percent in 2024. Notably, Guyana stands alone...

In a move that has reverberated across the energy sector, ExxonMobil has solidified its position as the world's first "Megamajor" in the upstream industry through the acquisition of Pioneer Natural Resources for US$64.5 billion.  The deal, according to Wood Mackenzie,...

Guyana, a relative newcomer to the global oil industry, is making strides in terms of its oil reserves and production capabilities. Since its first commercial oil discovery in 2015, the country has become a significant player in the sector,...