On World Environment Day, Minister of Natural Resources, Vickram Bharrat stressed the importance of Guyana balancing the extraction of its natural resources with the protection of the environment. The need for this approach was iterated by Mr. Bharrat at a...

If Guyanese are bypassed by oil companies for jobs and business opportunities in the burgeoning petroleum sector, then the government would be forced to change its policy on local content, says President of the South American country, Dr. Irfaan...

To ensure all stakeholders benefit from Guyana’s lucrative oil and gas sector, Minister of Natural Resources, Vickram Bharrat urged current and prospective investors to work with locals on their projects. He made this call during his brief remarks at...

In order for Suriname to prudently manage its oil and gas industry, Senior Analyst at America’s Market Intelligence (AMI), Arthur Deakin, is calling for the South American country to take lessons from Guyana’s oil boom. In an analysis released to...

In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater ‘advantaged barrels’ in locations such as the Guyana-Suriname Basin will therefore continue to play a...

Based on the World Bank’s latest statistics, carbon pricing appears to be gaining more acceptance and is proving to be a cost-effective policy tool in combating climate change. According to the financial institution’s latest report called State and Trends of...

All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to...

Political instability and economic turmoil in Venezuela have caused its economy and oil industry to collapse. The country’s highest-ever oil production occurred in 1998 at 3.5 million barrels per day (bpd), the same year that Hugo Chávez was elected...

President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development...

Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau...