Even though Guyana is poised to receive billions of dollars in revenue from its massive offshore oil fields, the country’s economy will not be allowed to become dependent on this resource. Making this declaration on Monday was President Irfaan...

The hull for the Prosperity FPSO, Guyana’s 3rd oil production vessel, is complete and will enter the Keppel shipyard in Singapore following the sail away of the Liza Unity later this month. The Prosperity FPSO will be producing oil...

The team on the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel has gone over 660 days with no recordable incident. Production Manager at ExxonMobil Guyana, Mike Ryan, says this is an indication that the team is working in...

The Environmental Protection Agency (EPA) in Guyana has approved an additional 60-day period for flaring of associated gas on the Liza Destiny FPSO for the period July 25 to September 22, 2021. This is to be conducted at a...

Exxon Mobil Corporation announced on Friday estimated second-quarter 2021 earnings of $4.7 billion compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021...

Guyana’s Minister of Natural Resources, Vickram Bharrat, will introduce and provide first reading of the 'Petroleum (Exploration and Production) (Amendment) Bill 2021' in the National Assembly on August 3. The Bill seeks to amend section 52 of the Petroleum (Exploration...

Even as world leaders make big commitments to transition to renewable energy so as to achieve net-zero emissions by 2050, oil will still be needed along the way to meet global needs. During his company’s 2021 Q2 Earnings call,...

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore base at Foreshore, Plantation Best on the West Bank of Demerara. The intended development will fill...

The economic transition being forecast for Guyana is bringing with it significant prospects and women entrepreneurs in the new oil producing country are determined to ensure they are well positioned to benefit from these opportunities. The Women’s Chamber of Commerce...

The results of Suriname’s keenly watched shallow-water licensing round where three of the eight offered blocks were awarded to international big-name companies will soon lead to a flurry of activity off the country’s coast. One block was awarded to Chevron...