News

Following an announcement by the Guyana Government that there would be targeted cash transfers from oil revenues for the country’s vulnerable, an expert in the natural resources industry is advising that the world’s newest oil producing nation establishes a...

According to the World Bank Global Gas Flaring Tracker Report released in July this year, the global average for flaring stands at 8.49 billion cubic meters as of 2019. Russia, Iraq, the United States, Iran and Venezuela are the top five countries...

(MarketWatch) Oil prices declined on Thursday after U.S. government data revealed a weekly climb in U.S. crude inventories, on the heels of six consecutive weeks of declines, raising expectations of an oversupplied market as uncertainty continues to surround the...

Investments being made in Guyana’s growing oil and gas sector have resulted in a capital account surplus in 2019--the year that the South American nation achieved first oil.  Guyana’s Minister of Public Works, Juan Edghill, highlighted the performance of the...

Among the announcements made on Wednesday during a Budget 2020 Speech made by Guyana’s Minister of Public Works, Juan Edghill, was a promise of cash transfers for the country’s vulnerable.  “The oil resource belongs to the people of Guyana. We...

Although already delayed since 2019, if the Payara development is approved by the end of September, this will ensure that the 2023 timeline for oil production start-up remains on track, adding another 220,000 barrels of oil per day to...

The Energy Chamber of Trinidad and Tobago on Wednesday launched its Local Content Management System (LCMS), the first of its kind in the region, which seeks to establish a robust framework to estimate the proportion of a dollar spent...

Kosmos Energy on Wednesday said that it has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell PLC, to farm down interests in a portfolio of frontier exploration assets for approximately...

UK-based Tullow Oil said on Wednesday it is still processing data from the discoveries it made last year at the 1,800km2 Orinduik block offshore Guyana. The block partners had found oil at the Jethro-1 and...

As the volume of petroleum resources at the prolific Stabroek Block offshore Guyana continues to increase with yet another discovery announced by US oil major ExxonMobil on Tuesday, the country’s Minister of Natural Resources says the Payara development, which...