News

Less than 5 years ago Guyana was listed as having no known oil resources. Now, with more than 8 billion oil-equivalent barrels estimated to be lying at the Stabroek Block, the country has surpassed Mexico, Norway and 77 other...

The Nicolas Maduro regime has proposed giving majority shares and control of its oil industry to international corporations after decades of state control. According to an article published by Bloomberg on Monday, Maduro’s representatives have reportedly held talks with Russia’s...

Guyana’s MatPal Maritime Institute (MPMI) will be hosting a Career Forum to inform the public of training and employment opportunities within the oil and gas and maritime industry. The forum will take place on Wednesday, January 29, 2020 at the Critchlow Labour College Auditorium in Georgetown. Following welcome and opening...

Hess Corporation on Tuesday announced a $3 billion Exploration and Production capital and exploratory budget, of which more than 80% will be allocated to high return investments including Guyana. In a press release, Hess said that the $3 billion budget...

The new year began in Guyana with the first oil lift followed by ExxonMobil’s 16th discovery and the addition of more than 2 billion barrels of recoverable oil resource at the 6.6 million acres Stabroek Block. All this good news come...

Refineries in the US Gulf of Mexico (USGC) and China are expected to take particular interest in the crude being produced in the South American country of Guyana which IHS Markit expects will be discounted by $2 relative to...

Despite low to no growth projected in some Caribbean countries for 2020, Guyana stands out as a pillar in the region due to the South American country commencing oil production in December 2019 which will mean a spike in...

Director of Guyana’s Department of Energy, Dr. Mark Bynoe, today announced that ExxonMobil has made its 16th oil discovery offshore Guyana. The new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block. This new...

In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves - has established itself as an oil producer as of December 20...

The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...