Venezuela’s ongoing claim to Guyana’s territory stalling maritime boundary talks with other countries

Guyana’s Minister of Foreign Affairs, Carl Greenidge on Monday said Venezuela’s relentless claim to this country’s Essequibo region and its accompanying oil rich maritime space was also stalling maritime boundary talks with other neighboring countries with which Guyana share maritime boundaries. Greenidge is confident, however, that much of the issues related to resolving maritime boundaries […]

Robert Persaud urges “less bickering and finger pointing” and collective approach for “Real Prosperity” with Oil production

In wake of today’s announcement by ExxonMobil that the estimate for the Stabroek Block has been increased to 4 billion barrels of oil, former Natural Resources Minister Robert Persaud is urging that there be “less bickering [and] finger pointing” ahead of production. Persaud shared this sentiment in a Facebook post earlier today, where he said […]

Exxon increases Stabroek Block estimate to 4 Billion barrels of oil

IRVING, Texas–(BUSINESS WIRE)– The ExxonMobil oil company today announced that it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases. The increase follows completion of testing […]

Guyana’s external debt-to-GDP projected to decline to 8%

-By Ravin Singh- Guyana’s present value of external debt-to-GDP (Gross Domestic Product) is projected to decline to 8 percent over the medium-term, the International Monetary Fund (IMF) has said in its 2018 country report. Although the report was released in May of this year, the Debt Sustainability Analysis was added to the report and published […]