Oil & Gas

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 ...

The Guyana government is finalising a deal with a Turkish company to rent a 36 megawatt barge, in an effort to satisfy peak electricity demand at a time when several generators are giving trouble, Vice President Bharrat Jagdeo said Thursday. Peak electricity demand in the Demerara-Berbice Interconnected System (DBIS) is just over 170 megawatts but existing generators are pushing just ...

The Greater Guyana Initiative (GGI) is supporting the development of Region Ten’s tourism sector through a Tourism Capacity Building Project, according to a statement issued at the weekend.  The initiative, which was officially launched on March 20, is a partnership between GGI and the Region Ten Tourism Committee (RTTC). This initiative holds significant benefits for the region as it promises ...

Businesses in Guyana would now be able to access a maximum of GB£2.1 billion through UK Export Finance (UKEF), the United Kingdom’s credit agency, than those available from local commercial banks but none of the money can be used in the oil sector, the UK’s Minister for the Americas, David Rutley announced on Tuesday. Chairman of Guyana’s Private Sector Commission ...

Guyana plans to export its excess natural gas to Brazil and several Caribbean countries and eventually fuel a bauxite smelter and gold refinery,  President Irfaan Ali announced on Monday. “Based on pure interest by investors, we are already seeing the second phase of gas coming in will already have to support a second power plant,” he told the government-backed Guyana ...

The United States (US) on Tuesday announced it would reimpose sanctions on Venezuela’s oil and gas sector, effectively blocking trade in those hydrocarbons  because the Nicolas Maduro administration has arrested members of the “democratic opposition” and has barred candidates from running in upcoming presidential elections. Venezuela, in response, said the US action amounted to a deliberate attempt to hit the ...

A Partnership for National Unity+Alliance For Change (APNU+AFC) parliamentarian, Volda Lawrence on Friday  recommended that there be a constitutionally entrenched amount of Guyana’s oil revenues that must be saved for future generations in the Natural Resources Fund (NRF). “This House must now consider a minimum percentage value in the NRF that must remain as inter-generational savings and this must be ...