It would be highly impractical for Guyana to expend billions importing liquefied natural gas (LNG) for its domestic use, as opposed to tapping into its massive offshore gas reserves in the Stabroek Block. Holding this position was the head of...

Since the emergence of the oil industry in 2015, Guyana has experienced an almost cosmic shift in its revenue inflows. Today, the hydrocarbon sector accounts for more than 50% of Gross Domestic Product (GDP). Traditional sectors, like manufacturing, rice and...

ExxonMobil Guyana has confirmed that its Corporate Social Responsibility (CSR) expenditure for the period 2015 to 2022 exceeds US$15 million (GUY$3 billion). Most of this investment has focused on transforming the lives of women and youth through comprehensive capacity-building...

For 2021, the Guyana Revenue Authority (GRA) said it waived GY$266.77 billion, equivalent to US$1.28 billion, in tax exemptions as compared to GY$137 billion (US$657 million) in 2020. This represents an increase of GY$129.77 billion (US$622.42 million) or 94.78% over the corresponding period. The Commissioner General, Godfrey Statia, was keen...

Dutch floater specialist SBM Offshore has signed an MoU with ExxonMobil Guyana for construction of a multi-purpose floater hull for use on a future floating production storage and offloading (FPSO) project. SBM made the announcement today via its LinkedIn page. “ExxonMobil and...

At the opening of the first day of the 2022 Guyana Supplier Forum, ExxonMobil Guyana President, Alistair Routledge said the oil major endeavours to create a prosperous and sustainable future for the South American country. Categorically, he said to the packed...

Guyana’s forests which stretch over 18 million hectares absorb 154 million tons of carbon dioxide (CO2) annually from the atmosphere. This is about the same annual greenhouse gas emissions from Norway, Sweden, Finland, and Denmark with a combined population...

With the Liza Destiny and Liza Unity FPSOs producing approximately 360,000 barrels of oil per day (bpd), Guyana is already the second leading productive asset for Hess Corporation, a 30% partner in the Stabroek Block. And once the Prosperity and...

For Guyana’s first oil blocks auction, the government has said successful bidders will have to pay a minimum of US$10 million for each of the 11 shallow water blocks in play. They would also have to pay a minimum of US$20...

Saipem said it closed the sale of its onshore drilling business on Friday to KCA Deutag. The agreement was announced in June. Specifically, Saipem’s activities in Saudi Arabia, Congo, United Arab Emirates and Morocco have been transferred. The agreement provides for...