Guyana Financial News

By Ahmad Ghaddar

Hardeep Singh Puri said. «Whenever there is vulnerability and uncertainty in the market, the transition gets accelerated. No-one is looking at that», Puri told Reuters in an interview at this week's World Economic Forum in the Swiss ski resort of Davos, referring to attacks by the Houthis on ships in the Red Sea. Puri said that while OPEC+ nations have a right to decide on their energy production, supply cuts against such uncertainty, and the resulting adverse impact on global prices, will dent long term demand. It is «imperative» for India to accelerate its transition to green energy in this scenario, he added. Iraq followed Saudi Arabia in charging a premium for oil supplies to Asian markets which made their crude «more expensive than crude sourced elsewhere», the minister said, noting India is now buying from 37 countries up from 29 earlier.

The International Cricket Council's recent release unveiled a schedule comprising 55 matches to be played at various stadiums across the U.S., including Texas, New York, and Florida, from June 1-29.

Men's T20 World Cup, which is set to commence from June 1. While the opening match will be played between hosts USA and Canada, the ball will roll for the marquee clash between India and Pakistan on June 9 in Nassau County International Cricket Stadium in Long Island. Joint hosts West Indies will play Papua New Guinea in Guyana on the second day of group play. The tournament is divided into four groups of five teams each, with the top two teams from each group moving on to the Super Eight stage of the competition, which takes place before the knockout semifinals and final match. The group stage matches are scheduled between June 1 to June 18 and the Super 8 matches will be played from June 19 to June 24. The two semi finals will be played on June 26 and 27, while the final will be played in Barbados on June 29.

MoU) between the Ministry of Petroleum and Natural Gas, India and the Ministry of Natural Resources, Guyana, on cooperation in the hydrocarbon sector. According to an official release, the proposed agreement covers the complete value chain of hydrocarbon sector including the sourcing of crude oil from Guyana, the participation of Indian companies in Exploration and Production (E&P) sector of Guyana, cooperation in the areas of crude oil refining, capacity building, strengthening bilateral trade, collaboration in natural gas sector, collaboration in developing regulatory policy frameworks in oil and gas sector in Guyana. Also, it will include cooperation in the area of clean energy, including biofuels as well as the renewables sector, including solar energy. The MoU with Guyana will strengthen bilateral trade, foster investment in each other countries and help diversify the source of crude oil, thus augmenting the energy and supply security of the country. The agreement shall enter into force on the date of its signature, remain in force for a period of five years and be automatically renewed thereafter on a quinquennium basis unless either party gives the other party written notice three months in advance of its intention to terminate this understanding. In recent times, Guyana has gained significant salience in the oil and gas sector, becoming the world's newest oil producer. The new discoveries of 11.2 billion barrels of oil equivalent amount to 18 per cent of total global oil and gas discoveries and 32 per cent of discovered oil. As per OPEC World Oil Outlook 2022, Guyana is projected to see a significant ramp-up in production, with liquids supply growing from 0.1 million barrel per day in 2021 to 0.9 mb/d in

Global oil demand growth is slowing down sharply as economic activity weakens in key countries, the International Energy Agency said as it slashed estimates for this quarter.

Occidental is buying oil and gas company CrownRock in a cash-and-stock deal valued at about $12 billion

The United Nations Security Council took no immediate action at a closed emergency meeting requested by Guyana following Venezuela’s recent referendum claiming the vast oil- and mineral-rich Essequibo region that makes up a large part of its neighbor

Four investment banks have announced during a meeting of leaders of trade bloc Mercosur they will put $10 billion for infrastructure works aiming to better connect South America

By Julia Symmes Cobb

Venezuelan President Nicolás Maduro is asking the country’s state-owned companies to “immediately” begin to explore and exploit the oil, gas and mines in Guyana’s Essequibo region, a territory larger than Greece and rich in oil and minerals that Venezu...

By Sabrina Valle

CARACAS (Reuters) — Guyana will remain vigilant after a Venezuelan referendum rejected an international court's jurisdiction over a territorial dispute between the neighboring countries, Vice-President Bharrat Jagdeo said on Monday.

offshore oil fields were discovered in the Essequibo region and it came as a game changer to poverty-stricken Guyana. The picture of the country is changing since the discovery of oil reserves in 2015 after which they are earning around $1 billion in annual government oil revenue. The money is being used for massive infrastructure projects in the country.

By Deisy Buitrago

CARACAS/GEORGETOWN (Reuters) -Venezuelans are voting on Sunday in a referendum backed by President Nicolas Maduro's government over a potentially oil-rich territory that is the subject of a long-running border dispute with Guyana.

climate summit convened by the UN, COP28 , which opens in Dubai on November 30th, one group is sure to have an outsize voice. These are the small island developing states (SIDS). Their club numbers just 39 full members and 18 associates.

GEORGETOWN, Guyana—New supermarkets here are stocked with prime Texas rib-eyes. A recently opened waterfront hotel offers executive suites for $750 per night. The national cricket team, the Amazon Warriors, is getting a new stadium that begins construction next spring.

Investing.com — Here is your Pro Recap of 5 head-turning deal dispatches you may have missed last week: Chevron to buy Hess for $53 billion, Vista Equity Partners to pick up EngageSmart, Roche to buy Telavant Holdings from Roivant and Pfizer , Western Digital drops on 'scrapped' merger, and Forward Air seeks to terminate disastrous Omni merger.

By Seher Dareen

Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge