OIL & GAS

OIL & GAS

Strong leadership and local content law driving Guyana’s oil & gas boom

September 30, 2025 Staff Reporter

Guyana’s transformation into the world’s fastest-growing economy has not been left to chance but is the product of deliberate leadership and policies, particularly in the oil and gas sector. This was the central message delivered by Minister of Natural Resources Vickram Bharrat during a recent appearance on the Starting Point podcast, where he credited the […]

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OIL & GAS

Local Content Law opens 14,000 job opportunities for Guyanese in oil & gas sector

September 30, 2025 Staff Reporter

The landmark Local Content Act enacted in December 2021, has created direct employment and business opportunities for approximately 14,000 Guyanese, according to Minister of Natural Resources Vickram Bharrat. He described the legislation as a transformative measure that ensures citizens are at the centre of the country’s petroleum industry rather than standing on the sidelines. Speaking […]

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OIL & GAS

Exxon CEO slams EU sustainability law as threat to oil and gas industry

September 22, 2025 Staff Reporter

The head of Exxon Mobil, Darren Woods, is urging European lawmakers to roll back a landmark climate rule, warning it will hurt oil and gas operations in the region. In an interview with The New York Times last week, Woods described the European Union’s Corporate Sustainability Due Diligence Directive (CSDDD) as “a very misguided effort […]

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ENVIRONMENT

Oil revenues shielding Guyana from climate debt – Pres. Ali

September 22, 2025 Staff Reporter

President Dr. Irfaan Ali has made it clear that without the new stream of revenue from oil production, the worsening global temperature rise would have spelled nothing short of disaster for Guyana’s economy. In a recent exchange with a New York Times reporter, Ali was asked what the rising heat means for Guyana. His response […]

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OIL & GAS

ExxonMobil says over GY$600B spent with local businesses since 2015

September 19, 2025 Staff Reporter

ExxonMobil Guyana says it has pumped more than GY$600 billion into the local economy through spending with Guyanese businesses since operations began in 2015. In the first half of 2025 alone, the company reported direct spending of GY$87 billion with some 1,800 local vendors. According to Exxon, this forms part of its continued investment in […]

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OIL & GAS

Global oil production falling faster, new investment critical – IEA report warns

September 18, 2025 Staff Reporter

The International Energy Agency (IEA) is warning that the world’s oil and gas production is slipping faster than before, and without steady investment, global supply could tumble by the equivalent of Brazil and Norway’s combined output every single year. According to the new IEA report, The Implications of Oil and Gas Field Decline Rates, production […]

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OIL & GAS

Exxon expands into the battery market while maintaining fossil fuel dominance

September 11, 2025 Staff Reporter

ExxonMobil, the oil giant known in Guyana for its massive offshore oil operations, is pushing deeper into the global energy transition while still growing its fossil fuel business. The company, which leads Guyana’s oil production through a consortium tied to the Stabroek Block, has been criticised for aggressively pursuing crude output even as the world […]

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OIL & GAS

Guyana’s Oil Boom Spurs New Offshore Support Contract with Dutch Firm

September 11, 2025 Staff Reporter

Guyana’s oil industry continues to expand rapidly, with Netherlands-based marine services provider Smit Lamnalco securing a major multi-year contract from US supermajor ExxonMobil to provide offshore terminal support in the Stabroek block. Under the agreement, Smit Lamnalco will supply four newbuild Offshore Terminal Support Vessels (OTSVs) to support ExxonMobil’s operations. The vessels will carry out […]

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OIL & GAS

ExxonMobil Signs Landmark $21.7B Deepwater Deal with Trinidad and Tobago

August 15, 2025 Staff Reporter

ExxonMobil has sealed a historic production-sharing contract with the Government of Trinidad and Tobago, marking its return to the country’s offshore sector after more than two decades. The agreement was signed at the Diplomatic Centre in St. Ann’s by Prime Minister Kamla Persad-Bissessar and ExxonMobil’s Vice President of Global Exploration, John Ardill, in a ceremony […]

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OIL & GAS

Global Subsea Tree Orders Slump, but Guyana Remains a Key Growth Engine

August 15, 2025 Staff Reporter

Global Subsea Tree Orders Slump, but Guyana Remains a Key Growth Engine Global orders for subsea tree units — critical components of offshore oil production — have hit their lowest level since 2020, with only 97 units awarded in the first seven months of 2025. A subsea tree, sometimes referred to as a “Christmas tree,” […]

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