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Oil & Gas
‘Ramps’ says sold majority company to man with Guyanese parentage but still denied local…
Ramps Logistics, a Trinidadian company offering full-service supply chain management in Guyana since 2013, says it is hurt and now fears that it stands to lose in a major way after being denied a Local Content Certificate to operate in…
‘A key milestone’ as sod turned for $62.7 billion Shore Base at V/Hoop
The sod for the GY$62.7 billion Vreed-en-Hoop Shore Base facility on the West Coast of Demerara was officially turned on Tuesday, signalling the start of construction.
The shore base is being undertaken by Vreed-en-Hoop Shorebase…
Guyana could sell cooking gas, other products for about $70M yearly- Jagdeo
Guyana could earn between $70 to $100 million each year from the sale of cooking gas and other products produced at Wales on the West Bank of Demerara (WBD), where the gas-to-energy project will be developed soon, Vice President Dr. Bharrat…
New and improved oil ship gas compressor operational from next month
After months of grappling with a faulty gas compressor aboard the Liza Destiny Floating Production Offloading and Storage (FPSO) vessel, Guyana’s first oil ship, ExxonMobil Guyana has related that a new and improved gas compressor to…
Exxon guarantees Guyanese bearing none of its debt nor eventual shutdown costs
The oil companies operating in the prolific Stabroek Block offshore Guyana are responsible for the debts incurred and the eventual shut down of their operations as they invest in exploration and production activities, an ExxonMobil official…
Jagdeo confirms gov’t likely to fund natural gas and power plants
Vice President Dr. Bharrat Jagdeo, during a press conference on Wednesday, confirmed that the government is likely to fund both the establishment of the natural gas liquids (NGL) plant and the accompanying power plant at Wales on the West…
Oil companies, not citizens, incur debts – Jagdeo
By Vishani Ragobeer
Vishani@newsroom.gy
Vice President Dr. Bharrat Jagdeo has rejected assertions that Guyanese owe oil companies millions of dollars for the debt incurred to fund oil production offshore, stating instead that expected…
ExxonMobil rakes in $132 billion in Guyana profits
By Vishani Ragobeer
Vishani@newsroom.gy
After about two decades of operating in Guyana, ExxonMobil, through its local affiliate Esso Exploration and Production Guyana Limited (EEPGL), recorded some GY$132 billion in earnings last year…
Guyana expects US$120M from sale of oil this week
By Vishani Ragobeer
Vishani@newsroom.gy
The Government of Guyana is expecting its second lift of one million barrels of oil from the Liza Unity vessel and with global oil prices still high, the country could get about US$120 million…
Oil prices rise as tight supply counters China COVID, recession worries
LONDON, June 14 (Reuters) - Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China.
Brent crude futures rose 94 cents, or 0.9%, to…