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...
The oil tanker Sonangol Namibe has arrived offshore Guyana to lift the South American country’s second 1 million barrels of oil from the Liza Destiny FPSO at the Stabroek Block.
OilNOW understands the Bahamas flag carrier is expected to begin...
Guyana’s Department of Energy (DE) is looking to engage the services of several specialists as it continues to build capacity and acquire the expertise needed to effectively manage the country’s emerging oil and gas industry.
DE Director Dr. Mark Bynoe...
The COVID-19 pandemic and decline in oil prices are causing major economic disruptions to crude producers around the world forcing them to adjust their projected revenue inflows downward as lockdown measures continue to curtail demand.
Americas Market Intelligence (AMI) experts...
US-based energy and technology company Baker Hughes is looking for a firm in Guyana to assist in the supply of warehousing space for its operations in the South American country.
The “locally qualified and registered company with local experience” would...
ExxonMobil Guyana has spent over US$35 million or approximately 7.1 billion Guyana dollars on more than 500 local suppliers in the first quarter of this year. The company said local suppliers remain important to the success of its operations...
Guyana falls within the Golden Triangle of mega oil reserves along with countries such as Brazil, Venezuela and Nigeria, and producers in the US Gulf of Mexico.
Deepwater drilling used to be prohibitively expensive, but high oil prices in 2007...
COVID-19 lockdown measures have brought a sharp drop in global oil and gas demand, with the International Energy Agency estimating that global oil demand could fall by approximately 26 percent this month.
GlobalData says the crash in prices - aggravated...
Guyana topped the oil discovery charts again in 2019 with the Liza field coming onstream in December and another billion barrels added in the ExxonMobil operated Stabroek licence with some more gas also. The resource estimate for Stabroek was again...
Hess Corporation reported Thursday a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020 even as oil production increased due in part to output from the Liza Phase 1 Development offshore Guyana.
“Our priorities...
Staatsolie Maatschappij Suriname N.V. and Suriname’s Tax Department have launched a three-year capacity-building program to strengthen tax and customs...
