As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens.
Making this point during...
Crowned “the fastest growing economy in the world”, on account of its spectacular Stabroek block discoveries, the Guyana government shoulders the responsibility of ensuring the growth is converted into development.
It must, at the very least, strengthen its human and institutional...
Guyana's Natural Resources Minister, Vickram Bharrat has assured that the National Assembly will be furnished with all agreements signed for the US$2.2 billion Gas-to-Energy (GTE) project.
Mr. Bharrat provided this assurance as part of a written response to a question...
Stabroek Block stakeholder, Hess Corporation, has committed to purchasing US$750 million in carbon credits from Guyana, kicking off a major low-carbon initiative by the government, to generate revenue from forest conservation.
An event to commemorate the agreement was held at...
Abu Dhabi National Oil Company (ADNOC), one of the world’s leading energy producers, says it will spend a whopping US$150 billion to boost reserves over the next five years to meet the world’s growing energy needs.
The massive budget was approved on...
SBM Offshore met with fourth and fifth form students at the Corentyne Comprehensive High School in Berbice last Friday to apprise them of the company’s role in Guyana’s oil sector, and the careers available in the industry.
This is the...
Vallourec announced Wednesday that it secured a major line-pipe order for ExxonMobil Guyana’s Uaru project.
The Uaru project will be situated in the Stabroek Block, a 26,800 km2 strategic acreage located off Guyana’s continental shelf. The development is targeting approximately 1.3 billion oil-equivalent barrels, the largest project expected offshore...
Global research group, Wood Mackenzie, said last week that Guyana is the most significant new entrant to the global oil industry.
It noted that the country will be producing one million barrels of oil equivalent per day (boe/d) within the...
ExxonMobil Guyana is now seeking technical and commercial information from local companies that can provide several insurance policies for the Yellowtail and Gas-to-Energy (GTE) projects.
This was noted in a Request for Information (RFI) published on Monday, November 28, 2022.
Exxon...
Efforts by authorities in Guyana to establish a consortium of caterers for three of the nation’s floating production, storage and offloading (FPSO) vessels operating at the Stabroek Block could see between US$25 million and US$30 million being earned by...
