The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for 2025, Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh,...

SLB CEO Olivier Le Peuch reported a reduction in upstream spending in Guyana during his overview of the company’s 2024 performance and 2025 outlook. While acknowledging strong performances in various regions, he pointed out contrasting trends across international markets. “In...

The U.S. Energy Information Agency (EIA) has released its latest Short-Term Energy Outlook (STEO), which now includes forecasts for 2026. The report assumes U.S. gross domestic product (GDP) will grow by 2% in both 2025 and 2026. Global oil prices...

John Hess, Chief Executive Officer of Hess Corp., is confident in Guyana’s stability ahead of the South American nation’s general and regional elections this year.  Hess holds 30% of the shares in Guyana’s Stabroek Block. CNOOC is a partner, and...

US$2.46 billion in revenue earned from Guyana’s fast-growing oil sector will fund 37% of Guyana’s 2025 national budget. The plan to fuel the country’s development in 2025 was announced on Friday, by the Senior Minister in the Office of...

ExxonMobil’s contracted fleet of drillships in Guyana now stands at five with the recent departure of the Stena DrillMAX which has completed its assignment. The Maritime Administration Department (MARAD) said the vessel left Guyana’s Exclusive Economic Zone in January.  The...

The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule in the Natural Resource Fund Act.  The rule allows the government to withdraw US$2.46 billion of the US$2.57 billion deposited into...

Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the Natural Resource Fund (NRF). The amount is 59% more than the approximately US$1.62 billion (GY$337 billion) that the NRF received...

The Guyanese government is awaiting a report from independent consultant IKM Acona AS before deciding on ExxonMobil’s plans to optimize the Liza Unity floating production, storage, and offloading (FPSO) vessel.  IKM Acona provides comprehensive consultancy and project management services to...

Guyana exported 225 crude lifts in 2024, as announced by Minister of Natural Resources Vickram Bharrat during a press conference on Tuesday.   Bharrat revealed that Guyana’s share was 28 lifts: seven from the Liza Destiny floating production, storage and offloading...