Guyana's Natural Resource Fund closed the first quarter of 2024 with US$2.36 billion (approximately GY$492 billion), according to a March report from the Bank of Guyana. The Fund’s overall balance, in March, registered a negligible shift from the US$2.36 billion...

Guyana’s Ministry of Natural Resources and CNOOC Petroleum Guyana Limited are looking for the next cohort of students to take advantage of scholarship opportunities to study Geoscience and Petroleum Engineering in China.  According to a Ministry notice, the scholarships are...

The Executive Chairman of the African Energy Chamber, NJ Ayuk, highlighted the significant potential of the Orange Basin, suggesting it could hold up to three billion barrels of oil and 5.5 trillion cubic feet of natural gas. However, Ayuk...

Growing offshore activity has seen Guyana’s shore base capacity expand considerably since 2020. The Ministry of Public Works told OilNOW approval was given for eight projects over this period.  Among the greenlit projects was the expansion works at the Guyana...

In the first quarter of 2024, inflows into Guyana's Natural Resource Fund (NRF) have been substantial, at US$604 million (approx. GY$126 billion), according to a gazetted notice from the government of Guyana.  The contributions to the NRF are detailed as...

Oslo-based TMC Compressors (TMC) said it has been awarded a contract to supply a large capacity marine compressed air system to MODEC’s Errea Wittu floating production, storage and offloading (FPSO) vessel.  MODEC is building the floater for an ExxonMobil-operated development...

MODEC has issued a Request for Information (RFI) for appropriate accommodation vessel services, catering to a minimum of 150 personnel on board (POB), for operations spanning August 2026 to March 2027. The RFI outlines requirements for the accommodation vessel, emphasizing...

‘Oil production needs to stop if the world has any chance of fighting climate change.’ This is the position of environmentalists as the world pushes the pathway to net zero. But industry analysts say that oil will continue to...

Guyana’s President, Dr. Mohamed Irfaan Ali, sat down for an interview with BBC journalist, Stephen Sakur, on the sidelines of the Guyana Energy Conference and Supply Chain Expo in February. The discussion about Guyana’s oil got heated quickly as...

Executives of the world’s foremost fossil-fuel giants recently poured cold water on the slothful energy transition movement, deeming it a fantasy to be abandoned. Despite such a position being shared by Amin Nasser, Chief Executive Officer (CEO) of Saudi...