Author: Vince Vanhoyte

Kaieteur News – In 2024, Guyana’s Natural Resource Fund (NRF) received nearly US$2.6 billion in oil revenues. But for that same year, the Government of Guyana out of its share of profit oil, was required to pay to the Guyana Revenue Authority (GRA) about US$2.4 billion in income tax for the three oil companies operating in […]

Kaieteur News – Trinidad and Tobago’s Minister of Energy, Dr. Roodal Moonilal, last week criticised the former administration for throwing away what he described as a prime opportunity to establish the twin-island state’s presence in Guyana’s booming  oil and gas sector. Speaking during the debate on the Finance (Supplementary Appropriation) Bill for the 2025 fiscal year, Dr. Moonilal […]

Kaieteur News – Despite the billions in profits recorded by the oil companies operating in Guyana’s Stabroek Block, the country continues to shoulder their tax burden. In 2024 alone, the government paid over $500 billion in income taxes on behalf of ExxonMobil Guyana Limited and its partners Hess and CNOOC, under the terms of the 2016 […]

The Guyana government has launched a two-part procurement process for the development of a natural gas liquids (NGL) storage and marine offloading facility, a key component of the country’s landmark Gas-to-Energy project. In the first of two notices published on Sunday, firms are invited to pre-qualify for the construction of the NGL storage and offloading facility, […]

Brazil’s Foz do Amazonas Basin is being viewed by top industry players as that country’s top offshore frontier opportunity, with Horizon Engage reporting that aggressive bidding there signals strong private-sector belief in the Equatorial Margin as “akin to Guyana’s Stabroek field”. According to Horizon Engage Senior Advisor for Brazil and Energy Transition, Mark Langevin, consortia including Petrobras, ExxonMobil, Chevron, […]

Floating Liquefied Natural Gas (FLNG) offers the most efficient and cost-effective path for monetising gas in the Guyana-Suriname Basin, says Lorenzo Disaro, Offshore Business Director for FLNG-LNG at Technip Energies. “Instead of injecting the gas, it makes sense to send some of the gas to shore,” Disaro told OilNOW during an exclusive interview at the […]

Guyana has been identified as one of only nine new superbasins worldwide to deliver over five billion barrels of oil equivalent since 2000. The classification was presented by S&P Global Commodity Insights at the recent Suriname Energy Oil and Gas Summit. The analysis found that since the Liza-1 discovery nearly a decade ago, Guyana has emerged as […]

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the government, fulfilling a contractual obligation to return a portion of the licensed area at a key juncture, the Ministry of Natural Resources said on Wednesday. “The 20% relinquished area excludes any areas related to discoveries, appraisals, […]

US supermajor ExxonMobil has officially relinquished 20% of the area of the prolific Stabroek block offshore Guyana. The decision to return part of Stabroek to the government is outlined in the production sharing contract and refers to the giving up of sections of a block after a stipulated amount of time has elapsed and no […]

Arbitrators in a dispute between ExxonMobil and Hess regarding Guyana’s prolific Stabroek block have reached a decision, Reuters reported on Friday. The nature of the decision and its expected publication date remain unknown, Reuters said on Friday. Chevron’s planned $53 billion takeover of Hess was designed to include the smaller US producer’s 30% stake in the […]