Guyana Oil and Gas News

All the latest news and commentary on the new Guyana Oil and Gas sector. Topics include exploration, drilling, policy, impact and more.

Jamaica oil minister stripped of portfolio

-over Petrojam scandal

(Jamaica Observer) Andrew Wheatley has been stripped of the energy portfolio in his ministry as the Government moves to cauterise the haemorrhaging it has been suffering from the Petrojam scandal.

OPEC meeting upbeat on future prospects of oil

As Guyana inches towards a 2020 commencement of the exploitation of what has been determined to be a potentially fortune-changing oil find, some of the major players in the industry were discussing what is widely believed to be significant global movement towards a historic shift in the demand for oil and oil products driven by growth in the world’s major markets.

World Bank approves US$35m for oil sector preparations

The World Bank Group today announced approval of a US$35 million Development Policy Credit to support Guyana’s efforts to bolster financial sector development and fiscal management to better prepare the country to tap its newly discovered oil and gas reserves and transform its oil wealth into human capital.

Oil reserves now at 3.7b barrels in Guyana basin

-key well still to be quantified, third drillship for Stabroek Block

With an eighth oil find yesterday in the Guyana basin and its largest discovery still to be quantified, ExxonMobil’s estimated total for seven wells in the Stabroek Block stands at some 3.7 billion recoverable oil-equivalent barrels, even as the company accelerates work in the zone by adding a third drillship.