Oil & Gas

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 ...

Trinidad and Tobago’s state-owned National Energy Company (NEC) has raked in profits ten times its expenses of setting up business in Guyana, that twin-island nation’s Energy Minister Stuart Young said Monday. Responding to questions in the Senate, he said the company earned US$5.3 million (TT$36,262,827). He detailed that NEC earned TT$350,000 (US$51,564.) for technical services, and TT$35,912, 363 (US$5,291,298) for ...

The oil sector is continuing to drive Guyana’s double digit real gross domestic product (GDP) for a fourth straight year, with the non-oil sector registering impressive performance of 49.7%, according to the 2024 mid-year economic report. “Growth continues to be driven by expansion in the oil and gas industry, along with strong continued growth in our non-oil sectors,” Finance Minister ...

The construction of an oil refinery on Crab Island, Berbice River, is not currently feasible because of the current oil production output and shallowness of the waterway around the proposed location, Minister of Natural Resources Vickram Bharrat said Wednesday. “We will have to do a bit more assessment and allow the companies to do their assessment as well but it’s ...

ExxonMobil Guyana’s President, Alistair Routledge on Tuesday said Guyana should be concerned about a protection against an oil spill in neighbouring Suriname, even as he showcased a capping stack that is on standby to shut off any well blowout offshore. “When you do the modelling, Guyana should worry more about what happens in Suriname than what happens in Guyana so ...

Brazil’s Minister of Mines and Energy (MME), Alexandre Silveira de Oliveira, told CNN after his participation in CNN Talks, this Monday, June 3, that Brazil should mirror the speed with which Guyana began its exploration in the Equatorial Margin. Mr Silveira was asked about a statement, on the 27th, in which he said that Guyana would be “sucking the riches ...

-Whiptail project receives government approvals; production targeted to begin in 2027 -Sixth Stabroek block development will add capacity of 250,000 barrels of oil per day -$12.7 billion of additional investment in Guyana’s growing economy SPRING, Texas – ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. Whiptail, the ...