Oil & Gas

Natural Resources Minister, Vickram Bharrat on Friday said entrepreneurs have found new ways to ‘smart’ the Local Content Act by having companies controlled on paper by Guyanese but the Local Content Secretariat has been uncovering those new schemes. He credited the Head of the Local Content Secretariat, Dr Martin Pertab and his team with “doing a wonderful job” in identifying ...

Guyana on Monday announced that two British companies have been contracted again to sell the country’s crude entitlement for the next 12 months, and the country is set to receive higher earnings from the deals. The Ministry of Natural Resources said the United Kingdom-based BB Energy Trading Limited would sell crude from floating production and storage offloading (FPSO) vessels Liza ...

Opposition Leader, Aubrey Norton on Thursday said if a coalition that includes his People’s National Congress Reform wins the 2025 general and regional elections, Guyanese would be handed “predictable” cash grants on specified periods that could be used as proof of earnings at commercial banks. Addressing the opening of the New Amsterdam Town Week in Berbice county, he promised cash ...

The Guyana government on Thursday announced that more cash grants would be handed out to Guyanese while investment in infrastructural development would continue, in stark contrast to President Irfaan Ali’s position against countrywide disbursements more than one year ago. “It’s a sustainable thing for us. We can do this periodically: give our people some money and still do the infrastructure,” ...

The Working People’s Alliance (WPA) on Monday, in a lukewarm welcome, deemed the government’s GY$200,000 cash grant to all Guyanese households as “election gimmickry” and said much more must be done for the poor and disadvantaged. WPA Co-leader, Dr David Hinds instead said government needed to pay more cash grants to counter the rising cost of living and at the ...

ExxonMobil Guyana’s President, Alistair Routledge on Wednesday almost totally ruled out any renegotiation of the Production Sharing Agreement (PSA) because it would adversely impact on the company’s planned US$55 billion investment in Guyana. “We have no interest to invoke that Article. As I say, we’ve made US$55 billion worth of commitment to the country. To go back and to undermine ...

A Guyanese-owned oil exploration company is among 27 companies that submitted bids to market Guyana’s crude entitlement from the three floating production, storage and offloading (FPSO) vessels in the Stabroek Block. The National Procurement and Tender Administration Board (NPTAB) officials did not announce the prices that were proposed and, instead, referred queries to the Permanent Secretary of the Ministry of ...

The People’s National Congress Reform/A Partnership for National Unity’s (PNCR/APNU) 20-point plan, including to seek a revision of the Production Sharing Agreement (PSA) with ExxonMobil Guyana and obtain a parent company guarantee for an oil spill clean-up, has been lauded by United States-based commentator and professor, Terrence Richard Blackman. Dr Blackman, who is also an analyst on a range of ...

The opposition People’s National Congress Reform/A Partnership for National Unity (PNCR/APNU) on Wednesday unveiled plans to ask ExxonMobil to agree to change the 2016 Production Sharing Agreement (PSA) as well as set up an inspector general’s office (IGO) to go after corruption in the oil and gas sector. “Considering the vastly changed conditions since the signing of the 2016 Stabroek ...

United States (U.S.) Ambassador to Guyana, Nicole Theriot this week talked up the Wales gas-to-energy project as a pathway to cleaner energy, and sent a strong signal that the American government was poised to approve a loan for the 300 megawatt natural gas-fired power plant. “We’re literally this close to finalising the EXIM loan that underpins the project,” she told ...