News

Industry Analyst Wood Mackenzie says the development and commercialization of the recent gas discovery by Australia-based BHP in Trinidad and Tobago will ultimately be determined by the size of the find. On July 18 BHP announced that the Victoria-1 exploration...

(Reuters) French energy group Total said on July 27 that it had started production at the Kaombo project, which is currently the biggest, deep offshore development in Angola. The Kaombo Norte FPSO was successfully brought onstream and will produce an estimated 115,000...

(Reuters) U.S. oil and natural gas producer Chevron Corp. said on July 27 its quarterly profit more than doubled on rising oil prices and production. Production rose about 2% to 2.83 million barrels of oil equivalent per day. The company posted...

Oil giant ExxonMobil on Saturday, July 28, continued its efforts to support Guyanese small businesses by being the lead sponsor of the ‘Uncapped Marketplace’ held at the Leonora Track and Field Center, on the West Coast of Demerara. The event...

The Private Sector Commission of Guyana has written to Publisher of the New York Times, Arthur Sulzberger, protesting what it describes as "misrepresentations" outlined in an article published on July 20, 2018, under the headline ‘The $20 Billion Question for...

Guyana leads the top five countries in the world in terms of total discovered resources added in the first half of 2018, followed by the United States, Cyprus, Oman and Norway… Global discoveries of conventional oil and natural gas are seeing an exciting recovery...

Guyana’s Cabinet has reviewed the proposal by the Ministry of Finance for the spending of revenues garnered from the country’s emerging petroleum industry but will be further scrutinizing the proposal on Tuesday, July 31. Addressing medial operatives at his Main Street,...

The World Bank and Guyana’s Minister of Finance Winston Jordan on Friday, July 27, signed a policy-based loan agreement for US$35 million to support the creation of the financial framework necessary for the Oil and Gas (O&G) industry. This loan...

Exxon Mobil Corporation announced on Friday, July 27, its estimated second quarter 2018 earnings of $4 billion, or $0.92 per share assuming dilution, compared with $3.4 billion a year earlier. Guyana continues to play a key role in pushing the company’s...

The more than 4 billion oil-equivalent barrels discovered to date in the Stabroek Block offshore Guyana is uniquely advantaged by its scale, reservoir quality, cost, rapid cash paybacks and superior financial returns. John Hess, Chief Executive Officer of Hess Corporation...