Guyana Financial News

«With GDP growth projections above 6 per cent annually, India's energy demand will continue to soar, and the country will remain heavily reliant on fossil fuels, including oil, to meet its needs,» said the report. As per the International Energy Agency (IEA) India's oil demand is projected to rise by 1.3 million barrels per day (mbpd) by 2030. The Organization of the Petroleum Exporting Countries (OPEC) estimates an even higher increase of 1.8 mbpd, bringing India's total oil consumption to 7.1 mbpd, up from 5.3 mbpd in 2023.

Subscribe to enjoy similar stories. New Delhi: Engineers India Ltd (EIL) is in talks with the government of Guyana to help build its first oil refinery, CMD Vartika Shukla said in an interview, a step that could deepen energy ties between India and the South American country. EIL plans to offer project management and consultancy services for the proposed refinery.

Subscribe to enjoy similar stories. State-run Bharat Petroleum Corp. Ltd (BPCL) will sign a contract with Brazil's Petrobras next week to supply 12 million barrels of crude oil a petroleum ministry statement said, as India continues to diversify its sourcing beyond Russia and West Asia.

Exxon Mobil’s fourth-quarter adjusted profit managed to beat Wall Street’s expectations, as the oil and gas company increased production in Permian and Guyana

Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week. Brent crude futures edged down 8 cents to $73.33 a barrel by 0125 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, down 7 cents.

Guyana is revisiting a dark history nearly half a century after U.S. Rev. Jim Jones and more than 900 of his followers died in the rural interior of the South American country

Indian Prime Minister Narendra Modi says his government views the South American country of Guyana as key to its energy security

Narendra Modi has said, asserting that the commonalities provide a strong foundation for friendship between the two nations. Addressing a community programme in Guyana on Thursday, the prime minister praised the Indo-Guyanese community and their contribution to the development of the Caribbean nation. He stressed that the shared values between the two nations provide a strong foundation for their friendship. «Three things, in particular, connect India and Guyana deeply. Culture, cuisine and cricket,» he said.

The prime minister, who arrived in Guyana on the final leg of his three-nation visit, is the first Indian head of the state to visit the country in more than 50 years. «For the world to move forward, the biggest mantra is 'Democracy First, Humanity First'. The spirit of democracy first teaches us to take everyone along and participate in everyone's development. Humanity First guides our decision-making. When we make Humanity First the basis of our decision-making, the results are also ones which benefit humanity,» he said.

Narendra Modi met with the Prime Minister of the Commonwealth of Dominica, Roosevelt Skerrit, for a bilateral discussion in Georgetown, Guyana. The meeting, held during PM Modi's visit to Guyana, is part of India's ongoing engagement with Caribbean nations to strengthen ties and foster cooperation. India and the Commonwealth of Dominica have enjoyed traditionally cordial bilateral relations since the establishment of diplomatic ties in 1981. While Dominica does not maintain a diplomatic mission in India, it is concurrently accredited to India's mission in Port of Spain.

Guyana as President Irfan Ali broke the protocol to receive PM Modi at the airport. Both Guyana and Barbados, another small Caribbean country, will confer their highest national awards on Modi. People of Indian origin, the biggest ethnic group in Guyana, make up 43.5% of the population. There are around 3,20,000 people of Indian origin in Guyana, according to the Ministry of External Affairs (MEA), which described it as «one of the oldest Indian diasporas, which migrated more than 185 years ago». «Prime Minister received a rousing and colorful welcome from the Indian community and the Indo-Guyanese diaspora in the presence of several Cabinet Ministers of Guyana,» the MEA said in a statement. However, the presence of a large Indian-origin community is not the only reason PM Modi is visiting Guyana. It may be a tiny country but it is assuming great global significance due to its huge oil reserves. Forging economic relations with smaller countries is part of Modi's agenda to bring together the Global South.

Guyana, the first Indian PM to visit the country in 56 years. In an unprecedented gesture, he was received at the airport by President of Guyana, Mohamed Irfaan Ali, and over a dozen cabinet ministers. On PM's arrival, the President of Guyana shared a hug and exchanged pleasantries.

In his departure statement ahead of his visit, PM Modi stated that he would be first visiting Nigeria at the invitation of President Bola Ahmed Tinubu with a focus on reinforcing the strategic partnership between the two nations. The Prime Minister will also be meeting with the Indian community in Nigeria during his visit. He will be there in the African nation from November 16 to 17. «At the invitation of H.E. President Bola Ahmed Tinubu, this will be my first visit to Nigeria, which is our close partner in the West African region. My visit will be an opportunity to build upon our Strategic Partnership that is based on shared belief in democracy and pluralism. I am also eagerly looking forward to meeting the Indian community and friends from Nigeria who have sent me warm welcome messages in Hindi,» the statement read.

Minister of Petroleum and Natural Gas of India Hardeep Singh Puri hopes that global oil prices will come down despite geopolitical tensions as more supplies are coming into the market. There is no shortage of oil in the world as more supplies are coming into the market from countries such as Brazil and Guyana, Hardeep Singh Puri said on Tuesday. «Prices should hopefully come down, and that's my personal opinion,» he said.

Up until Thursday, some people may have heard Ryan Wedding’s name but most were probably unaware of his existence.

The president of Guyana has announced several perks ahead of next year’s general elections, including free college tuition and a one-time cash payment of nearly $1,000 for every household in the oil-rich South American country

Chevron Corp. has agreed to sell stakes in oil sands and shale assets in Western Canada to Canadian Natural Resources Ltd. for US$6.5 billion.

Officials say that France’s TotalEnergies and U.S. hydrocarbon company APA Corp. plan to invest $10 billion to extract oil off the coast of Suriname in a historic investment for the South American country

Kashmir on Wednesday to witness the ongoing assembly elections. The delegation comprised diplomats from Delhi-based missions of the US, Mexico, Guyana, South Korea, Somalia, Panama, Singapore, Nigeria, Spain, South Africa, Norway, Tanzania, Rwanda, Algeria and the Philippines, people familiar with the matter said. Most of the embassies are represented by their Charge d'affaires and deputy chief of missions, they said. Others are represented by political officers at minister-counselor and counselor ranks.

Exxon Mobil’s second-quarter profit rose and was its second-highest for the period of the past decade as it achieved record quarterly production from its Permian and Guyana assets