With no proven oil reserves just over two and a half years ago, Guyana now has approximately 3 billion barrels of recoverable oil and this number is expected to further increase as the hunt for more petroleum intensifies.
The country’s...
Guyana’s Minister of Natural Resources Raphael Trotman and National Coordinator of the Guyana Extractive Industries Transparency Initiative (GYEITI) Dr. Rudy Jadoopat have been invited to attend the 38th EITI International Board Meeting in Manila, Philippines on October 25-26, 2017.
OilNOW can confirm...
The Ministry of the Presidency in Guyana has secured US$1.5 Million (GY$ 300 Million) to finance the development of the Green State Development Strategy (GSDS). This financing was approved by the Steering Committee of the Guyana REDD+ Investment Fund...
US supermajor Chevron is looking to participate in offshore activities in Guyana, making it the third oil major that views the South American country as a favourable location.
Total recently moved towards entering an agreement with Eco Atlantic on the...
A fifth oil discovery announced last week by ExxonMobil off the Guyana coast has further increased expectations that similar play could be expected in neighbouring Suriname as Tullow Oil farms into the Araku prospect on Block 54.
Already, a 3D...
Australian engineering firm WorleyParsons Ltd (WOR.AX) said on Monday it would buy the former upstream oil and gas assets of Britain’s Amec Foster Wheeler Plc AMFW.L for 228 million pounds ($298.22 million), marking its entry into the UK North...
Guyana’s Minister of Finance, Winston Jordan, disclosed on Monday that the country has collected around US$4.4M (G$900 million) in revenue for the first half of 2017 from oil and gas related activities.
Mr. Jordan was at the time responding to a...
Guyana and Azerbaijan are looking to build stronger relations and it is hoped that this partnership would allow for mutually beneficial outcomes, and support for the effective management of Guyana’s oil and gas sector.
Last week, the Ambassador of the Republic of...
The University of Guyana is looking to build its capabilities in the emerging oil and gas sector through partnerships with other educational institutions in the region and even further afield.
This was disclosed by Vice Chancellor of the University of Guyana,...
(Bloomberg) Was $50 a barrel for oil just a passing fancy?
West Texas Intermediate, the U.S. benchmark, skyrocketed above $52 a barrel at the end of September, teasing investors. But the rally didn’t last long. After hedge funds sliced their...