News

Oil being produced in Guyana will be sold at market price in keeping with the standard practice for marketing crude around the world. “Crude oil around the globe is sold via the market price, so whatever the market allows –...

The Iwokrama International Centre said on Wednesday that it has signed an MOU with the University of Guyana (UG) to support a PhD scholarship at that institution under a science programme funded by ExxonMobil. The student, Arianne Harris, will work...

As the South American country of Guyana prepares for elections, set to take place on March 2, 2020, ExxonMobil, operator at the Stabroek Block where oil production could begin within days, is making it clear that it will not...

The need for Guyana’s Natural Resources Fund (NRF) to be operational when revenues begin flowing to the country from oil production is being emphasized by an analyst at Global Data who says this ensures transparency and guarantees the correct...

As Guyana is now on the verge of becoming an oil producer resulting in billions of dollars in revenue flowing to the state in coming years, an economist is warning that it is not enough to merely expect that...

(AXIOS) America is poised to produce far more oil and natural gas over the next five years than any other country in the world, according to a new report. Why it matters: It shows how America, already the world’s largest...

(CNBC) New York’s Attorney General failed to prove that Exxon mislead shareholders over the true cost of climate change, a judge ruled Tuesday, ending the oil giant’s multiyear battle against the state. “The Office of the Attorney General failed to prove, by...

The Joint Venture partners at the 1,800km2 Orinduik Block offshore Guyana have opted to enter the next exploration phase of the Orinduik Petroleum Agreement and have since submitted their official notice to the South American country’s Department of Energy. The JV...

Despite encountering 6 dry holes in its Nearshore Drilling Project (NSD), Suriname state oil company Staatsolie says the campaign allowed for valuable data to be collected which could play a key role in ultimately hitting pay offshore the Dutch-speaking...

(Reuters) - Brazil will push to expand oil drilling in its massive “pre-salt” oil and gas area off its coast in spite of growing global concerns about climate change, the country’s energy minister told Reuters on Monday. Brazil’s Mines and...