Business

Irfaan Ali, had a conversation with his neighbouring partner Brazil in the oil and gas industry and in bauxite mining before the visit of Brazilian President Jair Bolsonaro, which is scheduled to later this month. As per the statement released by the office of the President, the two Presidents held …

Oil and gas major ExxonMobil on Wednesday announced two new oil discoveries offshore Guyana, at Fangtooth and Lau Lau wells, adding to previous recoverable resource estimate of 10 billion oil-equivalent barrels. The Fangtooth-1 well, drilled with the Stena DrillMAX drillship, encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone …

The Natural Resources Fund (NRF) Bill, according to the Georgetown Chamber of Commerce and Industry (GCCI), is a critical tool in Guyana’s development, both for present and future generations. As a result, since the Bill’s public release on December 15, 2021, the GCCI has been closely following developments and thoroughly …

Chuck E. Cheese, the global family entertainment brand, continues to drive international expansion and has successfully signed development agreements in three new countries across South America and in the Middle East. This adds to the rapid ongoing international expansion of the brand already announced in new regions like Guyana. One …

Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries made by ExxonMobil and its partners, Hess and CNOOC, in the offshore Stabroek Block, since 2015, recently saw the energy supermajor upgrade its resources estimate for the block from …

ExxonMobil’s huge new Guyana project faces charges of a disregard for safety from experts who claim the company has failed to adequately prepare for possible disaster, the Guardian and Floodlight have found. Exxon has been extracting oil from Liza 1, an ultra-deepwater drilling operation, since 2019 – part of an expansive project …

A new logistics project to support Guyana’s oil and gas sector has entered the permitting pipeline as the country chalks up another discovery. Information from the Environmental Protection Agency (EPA) shows that NRG Holdings and partners ZRN Investment, Hadi’s World and National Hardware plan to develop the US$200-600mn Vreed-en-Hoop port …

ExxonMobil and its partner Hess Corporation have made another significant crude oil discovery offshore Guyana, the U.S. supermajor said on Wednesday. The Whiptail discovery in the Stabroek Block adds to more than a dozen discoveries on the block and the previous recoverable resource estimate of approximately 9 billion oil-equivalent barrels. Whiptail, located …

The first cargo from Guyana’s oil production departed this month to India in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday. The cargo was bought at lower than market value price by HPCL-Mittal Energy Ltd, a joint venture between state-run Hindustan Petroleum Corp and …

Irfaan Ali said on an online energy event this week that the Liza Phase 1 offshore project, which is led by ExxonMobil and is Guyana’s first oil-producing project, has reached its maximum planned production capacity of 130,000 barrels per day (bpd). Operators are expected to drill up to ten appraisal …