Trinidad formally expresses interest in refining Guyana’s oil
The government of Trinidad and Tobago has formally expressed interest in having an arrangement with Guyana to refine its oil. This was noted in...
Natural Resource Fund will collect discovery, production bonuses and profits from National Oil Company
According to the Natural Resource Fund (NRF) legislation, all petroleum revenues would be paid into an account at the US Federal Reserve Bank. But...
Hess shares ‘on fire’ due to oil producing Stabroek Block- Investment Banks
Since oil production commenced in the Stabroek Block on December 20, last, the shares for Hess Corporation which has a 30 percent stake in...
DOE awards contract to UK-based firm to review, evaluate Payara Field Development Plans
The Department of Energy (DOE) has awarded the United Kingdom (UK)-based firm, Bayphase Geologists, Engineers and Investment Analysts Limited (Bayphase Ltd.), the contract for...
Govt. showing “commendable progress” in developing capacity for petroleum sector-IMF
Even though the political opposition has been highly critical of the government’s preparedness for the oil sector, the International Monetary Fund (IMF) has said...
Guyana has not been very successful in transforming natural resource wealth -World Bank
Guyana’s natural resource wealth is estimated to be the highest in the Caribbean even before the discovery of oil. Yet, this new oil producer...
IMF, Commonwealth Secretariat helping Guyana with review of legal and regulatory frameworks for oil...
Developmental partners such as the Commonwealth Secretariat, the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank (IDB), are assisting Guyana...
Guyana to pursue drafting of legislation to forbid routine flaring of associated gas
Even though the Government of Guyana has made it clear that flaring is not permitted, it will still pursue the drafting and subsequent enforcement...
Shell Western Supply and Trading Limited to buy first three million barrels of Guyana...
The Energy Department announced today that Shell Western Supply and Trading Limited will be buying the Government’s first three million barrels of oil from...
If political system is not reformed, oil money will be abused and dissipated –Ramkarran
Presidential Candidate of A New and United Guyana (ANUG), Ralph Ramkarran is of the firm conviction that Guyana’s political system needs to be urgently...
