In November, Guyana’s oil fund received payment for the 14th lift of profit oil amounting to approximately US$90 million (GY$18.77 billion).
Profit oil payments for the year accumulate in excess of US$1.1 billion. Government expects three more. Royalties, not received...
The International Monetary Fund (IMF) has underscored Guyana's significant position among countries with the highest levels of oil reserves per capita worldwide, presenting a promising economic outlook compared to its historical trajectory.
Commercially recoverable petroleum reserves in Guyana now exceed...
Shanghai Waigaoqiao Shipbuilding (SWS) has reportedly completed the keel-laying process for the fifth Fast4Ward floating production, storage, and offloading (FPSO) hull, just seven months shy of the initial steel cutting for the vessel.
The FPSO was constructed based on SBM...
Guyanese regulators are in the process of finalizing the nation’s gas strategy, which will guide authorities in transforming the country into a hub for regional integration. Speaking on the importance of the strategy, President, Dr. Irfaan Ali recently reminded...
While Venezuela’s President, Nicholas Maduro, has revealed his “evil intentions” for Essequibo which accounts for two-thirds of Guyana’s landmass, it will not stop the nation’s flourishing oil developments. Guyana’s Vice President, Dr. Bharrat Jagdeo delivered this emphatic assurance while...
DOF Group secured an accolade as one of ExxonMobil's distinguished 2023 Ruby award recipients. The evaluation criteria for nominees encompassed facets such as on-time delivery, safety protocols, responsiveness, service excellence, innovation prowess, and dedication to sustainability. Ruby award winners...
Amid growing concerns about Venezuela’s growing aggression towards Guyana, questions arose regarding China's stance on supporting Maduro's claim and the fear of a potential invasion.
In response to these queries, Foreign Ministry Spokesperson Wang Wenbin emphasized China's impartial stance, reiterating...
The International Monetary Fund (IMF) has released its latest report on Guyana's economic outlook, projecting the country's oil revenues to soar to a staggering US$11 billion (GY$2.3 trillion) by 2028. This estimate is derived from royalties and profit oil...
With Guyana expected to produce over one million barrels of oil per day from six floating, production, storage and offloading (FPSO) vessels by 2027, the country will likely have enough money to clear its debt. This is according to...
Production at the Liza 1 project rebounded in October, after which, the Liza Destiny floating production, storage and offloading (FPSO) vessel demonstrated levels in excess of 150,000 barrels per day (bpd).
The project registered an average output of 140,780 bpd...
