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Favourable reservoir conditions and break-evens for development make Guyana a safe bet

US oil major ExxonMobil is rapidly developing vast oil reserves discovered off the Guyana coast in what analysts say are ideal conditions for a solid return on investment that will result in massive revenue for the company and its...

US support shows all parties now consider Venezuelan claim “unacceptable and fabricated”- Greenidge

Guyana’s Foreign Affairs Minister Carl Greenidge has described as significant, the decision taken by the United States of America to stand behind Guyana on the controversy with neighbouring Venezuela. At a farewell reception for US Ambassador Perry Holloway on Friday...

Alan Rootenberg sells 16,500 shares of Eco Atlantic stock

Eco Atlantic Oil & Gas Ltd (CVE:EOG) insider Alan Rootenberg sold 16,500 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of C$0.85, for a total transaction of C$14,025.00. Shares...

Chevron, ExxonMobil weigh bids for Endeavor Energy

(Bloomberg) Chevron Corp. and Exxon Mobil Corp. are among the companies considering first-round bids this month for closely held oil producer Endeavor Energy Resources LP, according to people with knowledge of the matter. The two oil majors may be joined...

Local Content Policy for Guyana: Maximizing Economic Benefits

Increasing hydrocarbons finds offshore Guyana will offer significant opportunities to the country to fast track economic development and ensure that public welfare improvements are delivered to the citizens. One approach to doing so which should be adopted is to...

Guyana halts issuance of exploration licenses for one year

As the Guyana Government’s Energy Department works to increase its capacity, update legislation and have a better understanding of the local and global petroleum sector, it has put a moratorium on the granting of new exploration licenses. This was disclosed...

“We in Canada are here to help you not exploit you” – High Commissioner Chatterjee

Canadian High Commissioner to Guyana Lilian Chatterjee sees a bright future ahead for the soon-to-be oil producing South American country and is making it clear that Canada is looking to help and not exploit Guyana. Speaking at the launch of...

Exxon records 57% increase in earnings; Guyana discoveries enhance upstream opportunities

Exxon Mobil Corporation on Friday announced estimated third quarter 2018 earnings of $6.2 billion, or $1.46 per share assuming dilution, compared with $4 billion a year earlier. Cash flow from operations and asset sales was $12.6 billion, including proceeds associated with...

Oil revenue can radically transform tourism in Guyana – stakeholders say

Tourism Stakeholders in Guyana believe that revenues from oil production could potentially advance the tourism sector, making the South American country one of the most talked about destinations in the world. This was the highlight of a Tourism, Oil and...

President Granger approves Eco Atlantic’s transfer of 25% interest in Orinduik Block to Total Petroleum

Eco (Atlantic) Oil & Gas Ltd said on Wednesday that Guyana’s President, David Granger, has approved the transfer of the 25% working interest in the Orinduik Block, offshore Guyana from Eco Atlantic (Guyana) Inc., a wholly owned subsidiary of the...

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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...