Oil and gas exploration spending has been on a consistent downward trend in recent years, with only a slight bump in 2019. With investment budgets under renewed pressure this year, the share of exploration spending in total investment may...
The more than 8 billion barrels of oil equivalent resources discovered so far offshore Guyana represents oil found in just a portion of the 6.6 million acres Stabroek Block. With multiple targets remaining both at Stabroek and other blocks...
Authorities in Guyana have published the Royalty Statement for the almost US$5 million cash payment the country has received in royalty from oil produced and sold in the first quarter of 2020.
This adds to the US$54,927,994.80 deposited into the NRF account...
Bahamas flag carrier Sonangol Namibe which is carrying Guyana’s second million-barrel oil cargo is headed for the island of Aruba in the southern Caribbean Sea.
The oil tanker departed Guyana waters on Thursday May 21, after loading its cargo from the Liza...
The oil price crash has hit the upstream sector hard with deep cuts being made across the board and will have a dramatic impact on the industry’s project pipeline with almost all pre-Final Investment Decision projects being deferred says...
Reinjection of gas has commenced at the Liza Phase 1 development after a period of flaring that lasted longer than anticipated due to challenges encountered with a gas compressor for the Liza Destiny FPSO.
Head of the Environmental Protection Agency...
The Extractive Industries Transparency Initiative (EITI) is encouraging Guyana to disclose sales agreements related to the country’s share of oil production.
In an article published on May 21 focusing on the next steps for Guyana as it relates to contract transparency,...
Oil futures rose this week pushing both Brent and WTI contracts to around 2 ½ month peaks as new oil producer Guyana lifted its second 1 million barrels of crude from the ExxonMobil-operated Stabroek Block where production began last...
ExxonMobil Guyana President Rod Henson will be leaving the South American country in the coming months to take up a new position as Vice President, Wells, for ExxonMobil in Houston, with responsibility for all drilling activities around the world.
The...
Political instability is a major deterrent to economic growth and Foreign Direct Investment (FDI) and with competition for financial resources, investors looking to come into Guyana will tend to reconsider their options if an improvement in the country’s political...
