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Dominican Republic to join Caribbean energy exploration rush

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The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean...
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Tullow PSA: Guyana share of profit oil increases with production

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The Production Sharing Agreement (PSA) between Guyana and Tullow Oil in partnership with Eco Atlantic outlines a 1% royalty and a rolling percentage share of profit oil which begins at 50% and gradually increases to 60% for the South...
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Open remaining oil blocks to competitive auction or keep them – Jagdeo

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Leader of the Opposition and former President of Guyana, Bharrat Jagdeo, is calling for the implementation of competitive bidding for remaining oil blocks or for them to be kept for future generations. Responding to questions from the media, the Opposition...
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TT energy sector being made into ‘bogey man’ – fmr minister

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The energy sector of Guyana’s closest Caribbean island neighbor - Trinidad and Tobago - is traversing a slippery slope according to a former energy minister in the twin island republic. He believes a change in direction is urgently needed...
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Oil production key in catapulting Ghana to one of world’s fastest growing economies

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While seen as a curse by some, oil production and its spin-off effects can positively impact developing countries and change their fortunes for the better. The New York Times in a March 10 report stated that as recently as the...
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US Ambassador wealth fund comments “misinformed” – Finance Ministry

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Guyana’s Ministry of Finance describes as “misinformed” some of the views expressed in an Op-Ed written by US Ambassador to the South American country, Perry Holloway, which called for prioritization of a Sovereign Wealth Fund (SWF). In a statement on...
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Oil revenue will fuel construction boom – Business Minister

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Massive cash injection from oil production is expected to have a multiplier effect on the Guyana economy that will fuel a construction boom and trigger growth in a number of other sectors. This is the view of Guyana’s Business...
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Statoil to change name to Equinor to reflect broad energy push

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(Reuters) - Norway’s Statoil said on Thursday it would change its name to Equinor, saying this would reflect its commitment to be a broad energy company rather than one just focused on oil. In a video posted on social media,...
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Tillerson has 180 million reasons not to return to oil industry

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(Bloomberg) -- It isn’t clear where Rex Tillerson goes from here, but he has 180 million reasons to avoid the oil industry. The freshly ousted Secretary of State’s exit package from former employer Exxon Mobil Corp. stipulates that if Tillerson returns to...
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Urgency of Sovereign Wealth Fund cannot be understated – US Ambassador

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United States Ambassador to Guyana Perry Holloway says the establishment of a revenue and investment framework that effectively manages the expected windfall from oil production is of vital importance if the South American country is to be truly transformed. Writing...
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Exxon’s sole Guyana discovery for 2024 holds 500 million boe, says Rystad Energy

ExxonMobil’s only discovery in the Stabroek Block in 2024 - Bluefin is estimated to hold some 500 million barrels...

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