The International Energy Agency (IEA) has warned that the world could see an even bigger oil surplus next year, as much as 4 million barrels per day (bpd), as major producers, including OPEC+ countries and new oil nations like Guyana, continue to ramp up production while global demand remains slow. The IEA, which advises industrialised […]
OIL & GAS
Guyana FPSO Contract Awarded to Chinese Contractor
Bomesc (Beijing Oriental Marine Exploration & Construction) has secured contracts worth up to US$240 million to supply topsides modules for a future FPSO (Floating Production, Storage and Offloading) unit. The contracts involve Bomesc working under Modec subsidiaries in conjunction with ABB (Asea Brown Boveri) and VWS (Vestas Wind Systems). Bomesc’s participation will focus on delivering […]
“It would appear that OGGN perhaps misled the senators” -Routledge on Exxon’s tax credit allegations
President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge, has suggested that U.S. Senators may have been misled by the Oil and Gas Governance Network (OGGN) regarding claims that American taxpayers are subsidising ExxonMobil’s operations in Guyana. Routledge made the statement during a media conference at the company’s new Ogle, East Coast Demerara headquarters, while addressing […]
Oil Giant ExxonMobil Denies Fraudulent Tax Involvement
ExxonMobil Guyana has publicly rebutted assertions that it has benefited from U.S. foreign tax credits tied to its operations in Guyana, with the company’s local president accusing U.S. senators of being misled by outside groups. The controversy emerged after three U.S. lawmakers—Senators Sheldon Whitehouse, Jeff Merkley and Chris Van Hollen—sent a letter to ExxonMobil’s global […]
Guyana Moves Closer To 1 Million BPD
In its latest move offshore, ExxonMobil and its consortium partners have pushed Guyanese oil output to 770,000 barrels per day (bpd) following the start-up of its fourth floating production system, according to a report from Baird Maritime. This latest jump in production caps a sharp upward trajectory over recent months. In August, the consortium was […]
Chevron making strides in Guyana-Suriname Basin
In a significant development for the Guyana-Suriname Basin, Chevron is poised to drill the Korikori-1 exploration well in Block 5, offshore Suriname this month. The announcement comes amid continuing ramp-ups in Chevron’s involvement in Guyana’s petroleum sector after its recent acquisition of Hess Corporation. According to Staatsolie, Suriname’s national oil company, Chevron will begin drilling […]
ExxonMobil, TotalEnergies join push against EU sustainability law
Two of Guyana’s key oil partners, ExxonMobil and TotalEnergies, are among major global companies pushing back against a new European Union (EU) law that they say threatens business competitiveness and investment. The law, called the Corporate Sustainability Due Diligence Directive (CSDDD), requires large companies to address environmental and human rights issues within their global supply […]
UK Firm Hunting Awarded US$20M Contract to Support Deepwater Drilling Off Guyana
UK-based energy services company Hunting PLC has begun delivering oil country tubular goods (OCTG) accessories to support deepwater oil drilling in Guyana, under a contract valued at approximately US$20 million. The contract, secured earlier in 2025 through a “global oilfield service company”, is tied to operations in the Stabroek Block, one of Guyana’s largest and […]
Berbice now home to first Advanced Oil and Gas Diploma programme
Berbice now has its own accredited Advanced Diploma in Oil and Gas programme, thanks to the establishment of the Guyana Technical Training College Inc. (GTTCI) at Port Mourant -a major leap in Guyana’s drive to build local capacity for the energy sector. The 18-month course, which officially began on October 6, welcomed its first batch […]
Guyana oil now central to Chevron’s expansion after US$55B Hess takeover
Chevron’s acquisition of Hess Corporation earlier this year continues to place Guyana at the center of global oil discussions, with the U.S. energy giant now banking heavily on the Stabroek Block to boost its long-term output and profits. The US$55 billion deal, completed in July after Chevron triumphed over ExxonMobil in a lengthy arbitration dispute, […]