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 […]
echnology company, Apple, recently bought 100,000 of Guyana’s carbon credits as part of efforts to reduce its corporate and product emissions footprint for 2024. The credits bought from Guyana were retired by Apple. This means that the 100,000 credits issued to Apple have been removed from circulation and cannot be traded or used again.For years, […]
The Guyana Extractive Industries Transparency Initiative (GYEITI) Outreach today centered on the Guyana Manufacturers and Services Association (GMSA) in Georgetown. Dr. Prem Misir’s (Head, GYEITI National Secretariat/National Coordinator) (with mask) presentation focused on what triggered the birth and development of the Extractive Industries Transparency Initiative (EITI); Dutch Disease; natural resource curse; transparency and accountability; EITI […]
Last week, British Petroleum announced that it was slashing more than $5 billion in planned green energy investments. It was a marked departure from the early 2000s, when the oil giant branded itself as “beyond petroleum,” and even 2020, when the company targeted a 20-fold increase in its renewables portfolio. “Today, we have fundamentally reset BP’s strategy,” […]
The Extractive Industries Transparency Initiative (EITI) is a global standard that promotes transparency and accountability in the oil, gas and mining sectors.
Guyana Extractive Industries Transparency Initiative
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