ExxonMobil awards Saipem offshore contract for Longtail in Stabroek Block

21 April 2026

Saipem has been awarded a new Limited Notice to Proceed (LNTP), worth around 150 million USD, by ExxonMobil Guyana Limited for the engineering, procurement, construction and installation (EPCI) of the subsea structures, umbilicals, risers, and flowlines (SURF) system for the Longtail project, located in the Stabroek Block offshore, at a water depth of approx. 1,750 metres.

The LNTP allows Saipem to commence preliminary detailed engineering and procurement activities. Execution of the main EPCI scope (including construction and installation activities) is subject to the receipt of the necessary governmental and regulatory approvals, as well as the Final Investment Decision (FID) by ExxonMobil Guyana Limited consortium in the Stabroek Block. Once approved, the full contract will have an expected duration of around four years and an estimated overall value of between $750 million and $1.5 billion USD.

Saipem operated in the Stabroek Block for ExxonMobil Guyana Limited under seven offshore development contracts. completing four – Liza Phase 1, Liza Phase 2, Payara and Yellowtail.

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, offshore and onshore. Saipem is “One Company” organized into business lines:

1. 1. Asset Based Services,
  2. Drilling and Sonsub,
  3. Energy Carriers,
  4. Offshore Wind,
  5. Sustainable Infrastructures.

The company has 5 fabrication yards and an offshore fleet of 17 construction vessels owned and 12 drilling rigs, of which 9 are owned.

Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. Saipem is committed to supporting clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability.

Listed on the Milan Stock Exchange, it is present in over 50 countries and employs 30,000 of over 130 nationalities.

Hunting wins $63.5 million of subsea orders for new project

April 7, 2026, by Nadja Skopljak

London-headquartered energy services provider Hunting received subsea orders totalling $63.5 million for a new offshore development in Guyana.

The award covers the delivery of Hunting‘s titanium stress joint (TSJ) product line, used on floating production, storage and offloading (FPSO) vessels, and will be completed by its Subsea Spring business unit.

The revenue will be recognized from H2 2026, with the deliveries to be made through to May 2028. This new TSJ order is in addition to $4.4 million of orders secured by Hunting’s Stafford and Flexible Engineered Solutions business units for this new offshore development since December 2025, with further incremental orders likely to be received throughout the rest of 2026.

Jim Johnson, Hunting’s Chief Executive, said,

“Our TSJ product line, which is a critical component for offshore developments, continues to be adopted on key offshore projects utilising FPSOs, given the maintenance benefits and reliability offered.

We would like to thank our partner in Guyana for its continued confidence in our product offering and look forward to working together in the future with our range of products and solutions. This order also contributes to our guided subsea product group revenue and EBITDA through to 2028, as published at our subsea investor event held in January 2026.”

Earlier this year, Hunting acquired compatriot Flexible Engineered Solutions, to strengthen subsea growth and support 2030 ambitions.

Hunting PLC Awarded Subsea Orders for New Offshore Development

7 April 2026

Hunting Subsea Technologies successfully delivered eight titanium stress joints for the Uaru Field development.

Hunting PLC, the precision engineering group, has been awarded orders totaling $63.5 million for its titanium stress joint (TSJ) product line for a new offshore development . The award will be completed by the Group’s Subsea Spring business unit and will be delivered through to May 2028, with revenue being recognized from H2 2026.

This new TSJ order is in addition to $4.4 million of orders secured by the Group’s Stafford and Flexible Engineered Solutions business units for this new offshore development since December 2025, with further incremental orders likely to be received throughout the rest of 2026.

These orders demonstrate the success of Hunting’s TSJ solution, used on Floating Production, Storage and Offloading (FPSO) vessels. They underline Hunting’s strategic ambition to deliver a range of solutions for FPSO vessels used in offshore developments to capture a larger portion of projected spending on major subsea projects. By leveraging our enlarged product offering, we can better support integrated oil and gas groups and service companies throughout the whole life cycle of a well.

Jim Johnson, Chief Executive, said: “Our TSJ product line, which is a critical component for offshore developments, continues to be adopted on key offshore projects utilizing FPSOs, given the maintenance benefits and reliability offered.

UK–Guyana partnership boosts maritime mapping

April 16, 2026

Fishing communities and coastal businesses across Guyana are set to benefit from enhanced seabed mapping, as the UK Hydrographic Office (UKHO) partners with Guyana’s Maritime Administration Department (MARAD) to strengthen the country’s ability to survey and manage its waters.

The British High Commission in Guyana said over 90% of Guyana’s population live along the coast and waterways, which underpin the economy. This partnership will give Guyana sustainable access to high-quality seabed data — the foundation for safe maritime trade, fisheries management and protecting coastal communities from climate change.

UKHO specialists are working directly alongside MARAD survey teams to share knowledge, transfer best practice and calibrate the survey equipment on board Guyana’s new vessel, the Arau. One MARAD staff received formal hydrographic training at a UK-based internationally accredited institution over a five-month period.

The project builds on previous UK Government support delivered through the Commonwealth Marine Economies Programme, which helped Guyana supply hydrographic data to UKHO to update nautical charts for key maritime traffic routes. UKHO staff spent 4 weeks with the MARAD team, embedding best practice in data collection, processing and validation.

Strengthening Guyana’s ability to chart its own waters is a policy choice — investing in local capability rather than external dependency—so that Guyana can continue collecting vital data for years to come, independent of outside support.

This partnership directly supports Guyana’s Low Carbon Development Strategy and contributes to the UK Government’s Plan for Change commitment to sustainable international development, protecting livelihoods, and building a resilient blue economy.

.Acting British High Commissioner to Guyana, Liam McShane noted, “The UK is proud to work in partnership with Guyana to strengthen the country’s hydrographic capabilities.

This initiative reflects our long-standing commitment to supporting coastal nations and Small Island Developing States in their efforts to build the skills, tools, and evidence needed to safeguard their marine spaces.

This partnership will see investment in local capacity building and the transfer of expertise to Guyana’s Maritime Administration, thereby reinforcing their efforts to create the conditions for safer navigation, resilient coastal communities, and sustainable blue economic growth.”

MARAD added, “The partnership between Guyana and the UKHO continues to deliver substantial benefits, as the Surveyors benefit from continuous training opportunities, which provided updated survey data and quality control to improve navigation safety and, most importantly, enabled successful participation in the IHO Empowering Women in Hydrography.”

UKHO deployments to Guyana in October 2025 and March 2026 were part of the Sustainable Blue Economies Technical Assistance Programme, which enables Small Island Developing States (SIDS) to request specialist assistance from a partnership of UK marine science and management organisations to co-develop the evidence, tools and capacity for climate resilient, equitable sustainable and sustainable blue economies.

Local oil refinery

April 15, 2026

Guyana’s President Irfaan Ali and the DR’s President Luis Abinader at the National Palace in the Dominican Republic agreed to deepen bilateral ties and examine key ventures including the establishment of an oil refinery on August 08, 2023.

Oil hotspot Guyana is forging ahead with talks for a refinery to meet local demand. President Ali said his government is pursuing key long-term investments that would help insulate the country from external shocks such as the trade disruptions resulting from conflict.

Those investments include a natural gas plant and a gas bottling facility, ventures that will utilise offshore gas. By harnessing this abundant natural resource, Guyana will be better able to control the cost of gas and fertilisers, while guaranteeing that industrial and manufacturing opportunities remain viable.

An oil refinery to meet local demand is another venture being seriously considered.
“… now we are in serious discussions to have a refinery in Guyana for national security and a fertiliser plant for national and regional security,”

The Head of State engaged the President of the Dominican Republic and other stakeholders to move the venture ahead.
In 2023, Guyana and the Dominican Republic (DR) signed a Memorandum of Understanding (MoU) to establish a new oil refinery in Guyana, and President Ali said then that the Spanish-speaking country’s role in the project increased its viability.

Under the MoU, a feasibility study for the 50,000-barrels-per-day oil refinery should have been conducted. The Dominican Republic will be the majority shareholder, with a 51 per cent stake and its private sector is expected to partner with the Abinader government to launch the facility and eventually, process oil produced offshore Guyana.

President Ali had said in 2023 that the Dominican Republic is to become an “off-taker” of Guyana’s oil; that is, some of the oil produced offshore and refined in Guyana, will be shipped to the country.

Negotiations proceed for US$300M oil refinery

April 3, 2026

The Government and US-based Curlew Midstream are ironing out contract details with respect to refining and storing locally produced oil, according to US Ambassador Nicole Theriot.

Talks have been ongoing between Guyana and the Arkansas-headquartered energy infrastructure company since February 2025, but a deal is yet to be struck.

Ambassador Theriot indicated that this collaboration is still active, dismissing concerns that the project has been stalled.
“I was talking to the Government and to Curlew. Negotiations are absolutely ongoing. They’re working to reach an agreement on the contract, so it’s best if I don’t speak further because it is still ongoing. But we are very confident that they will reach a resolution.”

This refinery will need a minimum of US$300 million investment in the first two years, aiming to process 30,000 barrels of oil daily. In February 2025, Curlew claimed that partnership with the Government will ensure Guyana’s continued move toward energy independence and allow Guyana to store 750,000 barrels of gasoline, diesel, jet fuel, and heavy fuel oil in a modern fuel storage facility.

It will enable Guyana to meet 100 per cent of its domestic fuel needs while supplying high-quality, non-sanctioned fuels to CARICOM.

The increased fuel trade between the US and Guyana through the Curlew terminal would lead to “an immediate, dramatic reduction in the wholesale and retail prices of fuels that power the nation. These cost reductions will have the further impact of reducing the costs of all goods transported by air, road and river.

Additionally, the impacts of the reduction of fuel costs will be felt by businesses and households across Guyana in lower production costs of electricity generated by burning heavy fuel oil prior to the completion of the massive gas-to-energy complex.”

President Dr Irfaan Ali reiterated that in order for Guyana to move into its rightful place in the growing regional economies, infrastructure must be one of the most vital pillars alongside education, healthcare, tourism and oil and gas. He highlighted the partnership with Curlew as a giant leap in that direction.

An oil refinery converts crude oil into useful products- diesel, gasoline, lubricants and heating oil.

The Government has been exploring the viability of a 30,000-barrel oil refinery at Berbice, enabling the country to sell different parts of crude oil to various industries.

Output exceeding 900,000 barrels per day (bpd) of oil offshore in the prolific Stabroek Block and exports over one million bpd, amid the Middle East crisis reinforced the need for a local refinery.

President Ali sparked renewed discussions on a national refinery, emphasising that the strategic development of regional resources is essential to safeguarding the Western Hemisphere’s economic stability and energy security. Decline in oil supply from the Persian Gulf resulted in rising costs and fuel shortages, including natural gas.

He told the Georgetown Chamber of Commerce and Industry (GCCI). “This is a massive disruption, and that is why we support every effort to have the Strait of Hormuz open and functional and every effort in bringing the war to an end. We also support every effort to protect key energy infrastructure in the Gulf States.

There is no other option – we are all going to suffer under these circumstances. This brings us very importantly to our policy decisions moving forward. One of the strategies is to increase our storage capacity to a level where we can better control price differentials and cushion extreme shocks on the market…

Now, I believe we should return to the conversation of a refinery and security. This challenge opened discussions globally and reinforced the US policy for the Western Hemisphere – that we must optimise our resources and the development of those resources for the protection and economic viability of the hemisphere.”

He further noted that these considerations are critical to the region’s energy viability.
“These are no longer far-fetched ideas; they are now realities that we must embrace.

An important part of this reality is ensuring we have a secure, rule-based hemisphere in which our shared values of democracy and freedom are upheld. We cannot continue to look beyond our hemisphere for solutions when we have so many resources within the Western Hemisphere that must be developed if we are to secure a sustainable future for ourselves. It is in this context that we must view this conference.”

Guyana manufactures components for Hammerhead FPSO vessel

March 25, 2026

Two Guyanese companies today delivered critical components for the Hammerhead Floating Production, Storage and Offloading (FPSO) vessel, an indication of the growing capability of Guyana’s manufacturing sector to meet global offshore standards.

Asequith Guyana Inc. and Asian Sealand Offshore and Marine Inc. (ASOM) – fabricated the structural safety handrails for integration into the FPSO during construction. They were contracted by MODEC – a leading provider of floating production solutions for the offshore energy sector, including FPSO vessels.

At a steel-cutting ceremony for the Hammerhead FPSO, MODEC Guyana Country Manager, Rafael Fumis said the successful completion of the fabrication works for the Hammerhead FPSO is an important milestone in the development of the seventh major offshore oil development project in the Stabroek Block.

“The moment represents far more than the end of a phase. It reflects the strong collaboration between MODEC, our client ExxonMobil Guyana and our local partners in Guyana. And together, we have delivered a critical component of this project, reinforcing what can be achieved through shared comment and strong partnership.”

He said the two Guyanese companies produced approximately 100 metric tonnes of handrails.

“The components will be exported to Asia for installation on the topsides modules of the Hammerhead FPSO, part of ExxonMobil’s 7th project offshore. Once operational, Hammerhead will have the capacity to produce 150,000 barrels of oil per day, along with associated gas and water handling, further embedding Guyana in the global energy supply chain.”

He said the achievement builds on previous collaborations and marks the company’s second significant steel fabrication ventures with local companies. By partnering with Guyanese manufacturers, MODEC is helping to build technical capacity, create high-value opportunities for local businesses and support long-term, diversified economic growth.

Minister of Labour Keoma Griffith said though the steel-cutting ceremony may appear simple, the oil companies with the backing of the Government are laying the foundation for the future.

“Today, the steel-cutting ceremony is more than symbolic; it represents progress, partnership and purpose.

It reflects Guyana’s continued rise as a key player in the global energy sector, while ensuring that people remain at the center of energy development. This milestone is particularly significant as it highlights four critical pillars of our national development – job creation and workforce development, local content and economic impact, strengthening industrial capability and partnership and collaboration,”

The pillars resulted in tangible outcomes including the creation of more jobs, and businesses to the benefit of the Guyanese people.

ExxonMobil Guyana President, Alistair Routledge said the fabrication and delivery of the safety handrails, “is another milestone of Local Content in action.”

Routledge said in these turbulent times, Guyana’s rise in the Energy Industry is even more crucial as he underscored the need for diversity in the supply of energy across the world.

“Guyana’s continued growth in energy supply is playing a critical part in these turbulent times, and doing it in a way that is essential to what the world needs but also done in a way, which is delivering for the people of Guyana.”

The country is producing an average of 900,000 barrels of oil per day in the Stabroek Block. He said advancements in the development of the oil blocks offshore Guyana, are not only resulting in infrastructural development, but also socio-economic development and much needed jobs.

Exxon epic fills void from Mother Lode of Profits

6 April, 2026

In an industry of epic grandeur, Guyana evolves into a major energy provider amid the global oil crisis. In only a decade, the country of 950,000 grew from first oil discovery to lifting over 900,000 barrels per day, generating billions of dollars of revenue annually.

Signs of significant production growth ahead appear at a crucial time for a world experiencing an energy crisis when oil spiked to over $120 per barrel after closure of the Strait of Hormuz .

Guyana output is significantly reducing the Americas’ traditional dependence on Middle East petroleum. Rising oil production now ranks the former British colony as South America’s second largest oil producer behind Brazil and ahead of Venezuela.

An ExxonMobil consortium made over 40 major discoveries in the prolific offshore 6.6-million-acre Stabroek Block, estimated to hold at least 11 billion barrels of crude oil.

Gas-to-Energy Project advances

April 9, 2026

The Wales Gas-to-Energy (GTE) Project in Region Three is proceeding at a steady pace, with major construction activities set to commence in the coming weeks. Following a site visit, Prime Minister Brigadier (Ret’d) Mark Phillips reported notable progress since January, underscoring the government’s commitment to delivering reliable and affordable energy. He was accompanied by the chairman of the U.S. Export-Import (EXIM) Bank, John Jovanovic and U S ambassador, Her Excellency Nicole Theriot.

Preparatory works are advancing as planned, with the installation of piping expected to commence within two weeks. This next phase will follow the completion of pipe racks and ongoing foundation works. The project’s workforce is expected to grow significantly, reaching 1,100 workers in the near term, with peak employment projected between 1,400 and 1,600 workers.To support this expansion, systems have been put in place to accommodate workers operating on 12-hour shifts.

The Gas-to-Energy Project remains a cornerstone of the government’s energy strategy, which is aimed at reducing electricity costs and supporting economic development.

Funding Gas pipeline through cost recovery

…the single most expensive infrastructure development on record.

April 12, 2026

The agreement between Government and Exxon is a commercial gas contract, and not a repayment of an investment. As part of the contract, Guyana has agreed to purchase the gas in the Stabroek Block from Exxon.

The pipeline and two gas plants are likely to cost about US$2B- exceeding total national debt in 2018 around US$1.8B.

Guyana signed a take-or-pay agreement to purchase gas from Exxon. The contract did not specify the cost that Guyana will pay for the resources in the Heads of Agreement between former ExxonMobil VP Jesus Bronchalo, now consultant for the Government as CEO and Owner of Fulcrum LNG and government consultant to the Ministry of Natural Resources, Winston Brassington, former GTE Task Force Head.

Gas production falls under the PSA and producing Gas impacts the recovery of Oil of the consortium, so ultimately they arrived at a Gas Sales Agreement (GSA). In 2023, Brassington told the Guyana International Energy Conference that the GoG will be paying Exxon US$55 million annually for 20 years to clear the costs associated with constructing a 12- inch pipeline to transport natural gas from the Liza Fields offshore to the Wales development site.

Exxon Country Manager Alistair Routledge explained that the GoG will purchase the gas to repay the company for its investment. ExxonMobil is guaranteed that the GoG will pay for the gas volumes, regardless of utilization and risk-free as cost-oil becomes its recovery mechanism.

“The gas that will come on shore, in essence, that development is to pay for the pipeline cost. Nothing more…the gas itself, we are selling the full 50 million cubic feet a day to the government or a government entity being established in order to receive the gas and put it through the power station,”

SEC Filings of Hess and ExxonMobil :

Disclosed in the official filings –

The investment is confirmed at $1 Billion
In the ExxonMobil Guyana Limited Annual Report, the company explicitly confirms the capital expenditure:“ExxonMobil Guyana, Hess and CNOOC planned investment is approximately US$1 Billion to construct the 130-mile pipeline network that will transport ~50 million standard cubic feet of natural gas daily to the onshore processing facility.”
Repayment is via “Cost Oil”, Not Cash
The Hess SEC filings and regional annual reports clarify that Hess and ExxonMobil SEC filings are not carrying this investment as a cash loan or receivable from the Guyanese government. Instead, the pipeline’s construction costs are capitalized and recovered through the Stabroek Block Production Sharing Agreement (PSA).
The Mechanism: The investor reports outline that ExxonMobil recoups its capital investments through “Cost Oil.” Under the PSA, the consortium is allowed to allocate up to 75% of the total oil produced and sold from the Stabroek block to recover their development costs (including the Gas-to-Energy pipeline).
Corporate Accounting Reality: From ExxonMobil’s perspective (and under U.S. GAAP reporting to the SEC), the pipeline is treated as upstream infrastructure. They recover their $1 billion investment by lifting and selling oil, not by collecting a fixed yearly cheque from Georgetown.
Why the $55 Million Figure Isn’t in the SEC Filings
“Because ExxonMobil recovers the pipeline costs in barrels of oil rather than a fixed cash annuity, you won’t find a 20-year amortization schedule for $55 million in their consolidated U.S. financial statements,” sources explained.
Instead, “The $55 million figure is actually a Government budgeting calculation. To explain to the public how the pipeline impacts national revenues, the government mathematically modeled the $1 billion pipeline deduction over 20 years, equating it to a notional “unit cost” of $2.40 per MMBTU, which translates to a US$55 million annual reduction in Guyana’s share of profit oil,” an official noted.

The SEC filings confirm the US$1 billion investment and the 50 million cubic feet per day volume, but report the repayment simply as a standard cost-recovery deduction from offshore oil production, rather than a standalone financial loan. Hess in its SEC filings register a Sales Commitment of 375 billion cubic feet of gas to the GoG for 20 years.

Guyana deepens strategic partnerships at IMF Meetings

April 19, 2026

The Government of Guyana advanced its development agenda , with Senior Minister for Finance, Dr Ashni Singh, leading engagements at the 2026 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, DC.
A key highlight was the World Bank Group Establishment Agreement between Guyana and the International Finance Corporation (IFC).

The agreement, signed by Minister Singh and IFC Vice President for Europe, Latin America and the Caribbean, Alfonso García Mora, establishes the institutional framework for the operations of all World Bank Group entities in Guyana and strengthens support for private sector development, job creation and sustained economic growth.

Minister Singh participated in the AgriConnect Partners Meeting, where stakeholders reviewed progress since the initiative’s launch in October 2025 and outlined strategies to expand support for smallholder farmers by 2030.

1. 1. Senior Minister Dr Ashni Singh underscored Guyana’s leadership role in agriculture and food security within the Caribbean Basin, noting that the sector remains a key pillar of the country’s non-oil economy.
  2. He highlighted Guyana’s extensive arable land and freshwater resources as critical assets in advancing regional food security.
  3. He noted the strong alignment between the government’s policy priorities and the AgriConnect initiative, particularly in expanding access to technical support for farmers and advancing use of science and technology in agriculture.
  4. He reaffirmed Guyana’s commitment to supporting the initiative as a pathway to sustainable growth and enhanced food security.

At the Caribbean Governors’ Meeting with World Bank Managing Director for Operations, Anna Bjerde, Dr Singh advocated for the region’s development priorities. He emphasised the need for increased investment in infrastructure and supportive reforms to unlock trade and economic opportunities across the region, while expressing appreciation for the World Bank’s continued partnership.

He stressed that these challenges can only be overcome through strategic infrastructure investment and supportive reforms that unlock trade and economic opportunities.
He reiterated the World Bank’s valued role as Guyana’s lead development partner in human capital development, noting the importance of building a suitably skilled workforce to support the country’s rapid economic transformation. He further identified new opportunities for collaboration, especially through digital solutions to improve educational outcomes where support is most needed.
Minister Singh urged the Bank to play a more active role in supporting Guyana’s rapidly expanding private sector through financing instruments capable of mobilising investment with greater urgency.

World Bank to boost private investment opportunities

.. inks agreement with Finance Minister to support job growth, expand impact

April 19, 2026

Senior Minister for Finance, Dr Ashni Singh and IFC Vice President for Europe, Latin America and the Caribbean, Alfonso García Mora, signed an agreement to expand the World Bank impact in Guyana The World Bank Group (WBG) seeks a greater role in Guyana’s unprecedented economic transformation by expanding its investment portfolio through the local private sector.

This was cemented in an agreement inked between the WBG and the Guyana Government on the sidelines of the 2026 World Bank Group and International Monetary Fund (IMF) Spring Meetings in Washington, DC, over the past week.

The World Bank’s Caribbean division said it is strengthening the partnership with Guyana.
“In the context of the #WBGMeetings, the Government of Guyana and IFC (International Finance Corporation) signed the WBG Establishment Agreement-a key milestone to scale private sector development, support job creation and deepen impact in the country.”

Signed by Senior Minister Dr Ashni Singh, and IFC Vice President (VP) for Europe, Latin America, and the Caribbean (LAC), Alfonso García Mora, the agreement provides the institutional framework for the operations of all WBG institutions, enhancing its ability to deliver in the world’s fastest-growing economy. The IFC is the private-sector arm of the WBG, focusing on economic development through private enterprise in emerging markets. As the largest global development institution for the private sector, it provides investments and advisory services to create jobs and reduce poverty.

Finance Minister Dr Ashni Singh addressed the AgriConnect Partners Meeting during the World Bank Group and IMF Spring Meetings.

Exploring new products
A few weeks ago, Minister Singh pointed out that Guyana’s relations with the World Bank are evolving in different dimensions given the country’s changing economic circumstances. This includes exploring products being offered by entities within the Group, including the IFC.

Dr Singh’s remarks came in light of concerns as Guyana risks potentially losing its eligibility for access to concessional resources under the World Bank’s International Development Association (IDA) due to the country’s rising income per capita. Access to IDA resources is tied to the per capita income of countries – something which the finance Minister had said Guyana has long opposed even before its oil boom and a challenge that the country is facing with many of its other development partners.

“We will always fight for the largest possible access to concessional resources, but as we navigate this period of change in the Guyanese economy, other members of the World Bank Group have tools, instruments and products that will take on new relevance, including, in particular, the World Bank’s private sector operations… The private sector arm of the World Bank is now doing a lot more in Guyana, and we’re pushing them to do a lot more given the speed at which we’re seeing the private sector grow,” the Minister explained during a podcast interview last month.

At the time, Dr Singh was joined by World Bank Country Director for the Caribbean, Lilia Burunciuc, as they reflected on the work of the financial institution in Guyana over the years and the role it will play in helping to build out the country’s future. Burunciuc assured that the World Bank is committed to continuing to work with Guyana even as a high-income nation, expressing hope that this collaboration would expand into new areas.

According to a former World Bank representative, these include “…focusing on attracting private investments, making sure that high-quality jobs are created, ensuring that not only the oil economy but also the non-oil economy is doing well, and for this, there is a need for investments… Going forward, it’s about more investing in systems, investing in ‘know-how,’ and investing in innovations to ensure that the economy continues to advance, while also trying to offer Guyana new innovative products like… various guarantees that will allow Guyana to access resources in the capital markets at lower costs .”

Finance Minister Dr Ashni Singh and his delegation engaged World Bank Vice President for Latin America and the Caribbean, Susana Cordeiro Guerra, and her team on the sidelines of the Spring Meetings

High-level engagements
On the sidelines of the World Bank Meetings, Minister Singh had a series of high-level engagements with senior officials from the WBG. Meeting the World Bank’s VP for the LAC, Susana Cordeiro Guerra, paved the way for discussions on new avenues of cooperation aimed at driving sustainable growth and prosperity for all citizens.

The Finance Minister met the Executive Head of the Pandemic Fund – a World Bank partnership with the World Health Organisation (WHO) – Priya Basu and her team to discuss the advancement of global pandemic preparedness and responses. Singh took the opportunity to recognise the Fund’s support towards Guyana, especially in strengthening health resilience and reiterated the Government’s interest in continued close collaboration with the Fund into the future.

In addition to bilateral engagements, Minister Singh participated in a series of breakout sessions over the past week, including a Constituency Meeting, which focused on issues of shared interest to countries in the Brazil constituency including Guyana, Haiti, Suriname, Trinidad and Tobago, Cabo Verde and Timor Leste.

Dr Singh highlighted Guyana’s unprecedented economic trajectory and the strategic roadmap for long-term economic stability. He used the opportunity to urge the IMF to recognise the unusual and peculiar economic circumstances of Guyana’s extraordinary growth and, therefore, adopt more customised policy advice that aligns with the country’s unique development needs and global climate vulnerabilities.

Sustainable growth & food security
Dr Singh attended an AgriConnect Partners Meeting that convened public and private stakeholders to evaluate progress since its launch in October 2025. The session also focused on overcoming emerging challenges and identifying strategic opportunities to meet the goal of supporting more smallholder farmers by 2030.

Singh outlined that Guyana holds the lead responsibility for agriculture and food security within the Caribbean region and underscored that agriculture remains a primary contributor to Guyana’s non-oil GDP, supported by abundant arable land and freshwater resources. Noting strong alignment between Guyana’s Government’s policy objectives and the AgriConnect initiative, particularly in areas of access to technical assistance and extension services for small farmers and the deployment of science and technology in the agriculture sector, he reaffirmed that Guyana looks forward to actively participating in this initiative to drive sustainable growth and food security.

Moreover, Dr Singh participated in the 16th V20 Ministerial Dialogue, under the theme “Prosperity, Stability, and Security in an Era of Planetary Instability,” which brought together V20 members and global partners to address the critical convergence of climate, development and nature. The dialogue focused on navigating the escalating shocks of the climate crisis while exploring sustainable opportunities for economic resilience.

During the week-long WBG and IMF Spring Meetings, Minister Singh was joined by Guyana’s Ambassador to Brazil, D. Compton Bourne, Executive Director in the Caribbean Office of the IDB, Navita Ramroop and Governor of the Bank of Guyana, Dr Gobind Ganga,

US EXIM Bank Chair to visit Guyana

April 8, 2026

President Dr Irfaan Ali, met President of the US Export-Import Bank, John Jovanovic in September 2025.
U.S. Export-Import Bank (EXIM) Chairman John Jovanovic will arrive in Guyana tomorrow for high-level meetings focused on strengthening economic cooperation, discussing the transformative gas-to-energy project and reaffirming strong support for future opportunities in Guyana.
During his visit, Chairman Jovanovic will meet with President Irfaan Ali, the American Chamber of Commerce and staff from Lindsayca Inc., the Houston-based contractor executing the gas-to-energy project that has received $527 million in EXIM financing. The visit demonstrates the U.S. government’s continued commitment to not only this landmark infrastructure initiative but also in financing additional Guyanese development projects.

The gas-to-energy project represents the largest infrastructure investment in Guyana’s history. Once completed, it will double installed electricity capacity, reduce electricity costs by 50% for all households and businesses and cut carbon dioxide emissions by over 460,000 tons annually.

The project includes construction of a natural gas separation plant, a 300-megawatt combined cycle gas turbine power plant and a gas supply pipeline.

Lindsayca Inc. continues to advance construction and made significant progress on all project components. The company’s expertise in energy infrastructure development positions the project to deliver transformative results for Guyana’s energy sector.
Chairman Jovanovic’s visit underscores the depth of the U.S.-Guyana partnership and the United States’ long-term commitment to supporting Guyana’s economic development and energy security through reliable, competitive and transparent financing.

US EXIM Bank to fund deepwater port

April 11, 2026

The United States (US) Export-Import (EXIM) Bank offered to finance Guyana’s deepwater port facility – a project that the Government has been pushing in recent years to position the country as a major regional hub.

During a high-level engagement with President Dr Irfaan Ali and other Government officials in Georgetown on Thursday, it was revealed that the Chairman of the US EXIM Bank, John Jovanovic, issued a letter of interest (LI) for the deepwater port project.

“One of the highlights from the lunch was our chairman issuing a letter of interest for the deepwater port. And so, this is yet another project in which we can support the infrastructure requirements of the Guyanese people,” a Bank official who accompanied the chairman revealed following the meeting.

President Dr Irfaan Ali met Chairman of the US EXIM Bank, John Jovanovic, and his delegation at State House on Thursday during their high-level visit to Georgetown

Another member of the delegation added, “As the Export-Import Bank, we have the opportunity to build on our Buy American, Build the Future framework here in Guyana. And I think it’s been really exciting to see that in action. And I think we’ve taken some really great steps [on Thursday]. And the next six to twelve months are going to pave the next 20 years for our relationship. So, we’re really excited to be here and be a part of it.”

An EXIM Letter of Interest is a pre-export tool that indicates the institution’s willingness to consider financing for a specific export transaction, subject to further review and submission of a formal application. As part of the LI review process, EXIM will also assess the bankability of the transaction and the likelihood that EXIM financing could ultimately support it.

The Government is collaborating with US-based Bechtel Corporation to develop the major deepwater port at the mouth of the Berbice River. Last October, President Ali disclosed that they are finalising the design of this facility.

“We are working on the move towards the final phase of the deepwater port in Berbice, which will see the design completed, and then we will move towards construction,” the Head of State told stakeholders on October 2, 2025, at the Georgetown Chamber of Commerce and Industry (GCCI).

Days later, the local private sector, including the GCCI, renewed calls for the establishment of a deepwater port facility in Guyana, with many stakeholders saying this is the best solution to the prolonged delays with shipments at the port in Trinidad and Tobago. Guyanese businesses, both big and small, have been complaining bitterly about the continued delays in shipments to and from Guyana as a result of major congestion at the Port of Port of Spain.

Previously, the Guyana Government had been eyeing the £3 billion loan facility that the United Kingdom Export Finance (UKEF) is offering Guyana to possibly fund the deepwater port facility in Berbice. Now, there is another financing option with this offer from the US EXIM Bank.

The EXIM Bank is the official export credit agency of the US. Back in July 2022, Guyana and the EXIM Bank signed a Memorandum of Understanding (MoU) for financing of up to US$2 billion for projects in several sectors, including

1. 1. infrastructure,
  2. energy,
  3. telecommunications,
  4. water treatment and sanitation, and
  5. agriculture.

The MoU provides a framework within which financing can be provided by EXIM to advance developmental projects either by the state or the private sector in Guyana while promoting the export of US-made goods and services.

Already, the financial institution has injected some US$527 million into the transformative Gas-to-Energy (GtE) Project, which is being executed by Houston-based contractor Lindsayca Inc.

During Thursday’s meeting, Chairman Jovanovic assured President Ali of the US’ unwavering support to see this transformative project through to completion. They also discussed exciting opportunities ahead, with the EXIM Bank ready to finance additional development projects that align with Guyana’s national priorities.

According to the EXIM Bank Chairman, “I’m here today with my team in Guyana visiting President Ali and his cabinet to advance very key initiatives on the Guyanese-American relationship… And we hope that we can build a Western Hemisphere together that’s safe, prosperous and secure.”

“We hope that it sends a very clear message to investors all around the world that Guyana is open for business and that the big red carpet that President Ali has rolled out is wide open for partnership and for great investment.”

Trinidad can refine Guyana crude

Let’s do it!! Where there is a will there is a way……..

April 14, 2026

President Irfaan Ali confirmed that his administration intends to engage the Government of Trinidad and Tobago directly on a potential collaboration to refine Guyana’s crude oil in Pointe-a-Pierre. The prospect of Guyanese crude being refined in Trinidad has emerged as a key element of an energy strategy outlined by Ali during a recent visit.

Discussions around Guyana supplying crude to support the restart of Trinidad’s idle refining capacity have gained traction in recent months following the arrival of the new government in Port-of-Spain.

Their Energy Minister, Dr. Roodal Moonilal, indicated at a conference in Guyana in February advised that Guyana could play a key part in the restart of the refinery. The minister disclosed that the facility can process about 150,000 barrels of oil daily but will require petroleum from regional partners.

Guyana’s Minister of Natural Resources, Vickram Bharrat, revealed that the two CARICOM states are already in discussion to examine the possibility of restarting the former Texaco-Petrotrin refinery.

In Trinidad, Ali framed this integration as a non-negotiable response to a shifting global market. He argued that the era of hesitation must end, as the economic cost of delay grows increasingly steep, urgng a disciplined, private-sector-led integration of cross-border gas and refinery assets.

Central to this blueprint is the potential reactivation of Trinidad’s idle refining capacity to process Guyanese crude. Ali confirmed he is prepared to engage the T&T Government directly to discuss a strategy for Guyanese light sweet crude to flow into the Trinidad refinery, effectively turning a legacy industrial burden into a regional asset.

“I will be meeting the government,” he said about refinery collaboration.

This move signals a departure from the “export-only” model, aiming instead to monetise resources within the CARICOM space to insulate the region from global price shocks and supply chain vulnerabilities. Ali’s willingness to explore refining Guyanese crude in T&T renews focus on the country’s dormant refinery assets. While no structure has been finalised, the signal is clear: upstream growth in Guyana is now large enough to support regional downstream integration.

“The president is considering investing in Trinidad’s refinery to refine some of Guyana’s oil,” he said.

The strategic case rests on proximity, existing infrastructure and the potential to create value-added exports rather than raw crude flows, as Ali acknowledged the structural weaknesses that historically undermined refining in the region.

“There is the potential for refining oil from land; they should allow it to be the refining tragedy. It’s happening now.”.

The remark underscores a hard reality: refining economics are unforgiving, and without scale, efficiency and consistent feedstock, projects fail. A Guyana–Trinidad link could address some of those constraints if executed with discipline and aligned incentives.

On the sidelines of the CARICOM Summit, President Ali stated that Guyana remains open to exploring avenues of support in regard to the reopening of Trinidad’s oil refinery but any arrangement must be economically sound and aligned with national and regional interests. “So wherever and however, we can integrate for the benefit of the region and benefit of our countries, we will do that. This requires constant evaluation and strategic decisions in the interest of our people, in interest of our country, in the interest of the region and economically viable.”

Guyana receives over G$159 billion in oil revenues

April 9, 2026

Guyana banks US$761M in Q1 2026

April 08, 2026

Guyana earned over US$761M in the first three months of 2026, a new milestone since production activities commenced in December 2019.

The Ministry of Finance published the first quarter earnings earlier this month in accordance with the provisions of the Natural Resource Fund Act of 2021. According to the Petroleum receipt , Guyana’s quarterly earnings reached its highest on record, as oil prices remain above US$100 per barrel.

The Natural Resource Fund receipt for the first quarter of 2026

Guyana gets US$761M in oil revenue in first quarter of 2026
The Natural Resource Fund receipt for the first quarter of 2026

The document indicates that a total of 10 profit oil payments were made between December 30, 2025 and March 31, 2026. During the period, one royalty payment, relating to 2025 fourth quarter production was made, amounting to US$110,893,513.30.

Total profit payments during the quarter reached US$650,822,819.62.

Overall flows into the NRF, included profit oil and royalty of US$761,716,332.92.

In accordance with the 2016 Petroleum Agreement, Guyana receives 2% royalty and 12.5% of profit oil as 75% is deducted by Exxon for costs and another 12.5% as profits.

Four Floating Production Storage and Offloading vessels (FPSOs) in the Stabroek Block are producing a combined total of about 916,000 barrels of oil per day (bpd) according to the operator of the block, ExxonMobil Guyana Limited (EMGL).

The Liza One project, operated by the Destiny FPSO produces about 130,000 bpd. Liza Unity FPSO is producing about 265,000 bpd. Prosperity is producing approximately 265,000 bpd at Payara and the One Guyana FPSO at the Yellowtail project is producing an average 260,000 bpd. ExxonMobil revealed plans to further increase oil output at the fourth project, which came online in August last year. As a result of the high oil prices, Exxon said that the country has been repaying costs faster, which will result in the country receiving a higher portion of revenue from crude sales.

The 2016 PSA states at Article 11 that the Contractor (ExxonMobil) shall bear and pay all costs incurred in carrying out petroleum operations and shall recover these costs on a monthly basis at a rate of 75% of total production.

Following the recovery of all costs, Article 11.4 provides “The balance of crude oil…shall be shared between the Government and the Contractor for each Field in the following proportions: Contractor fifty percent (50%) and Minister fifty percent (50%).”

So far, ExxonMobil has expended U.S.$40B to develop the seven oil projects approved to date. Currently, U.S.$5B remains in the cost bank to be recovered by the company.

Country Manager of ExxonMobil, Alistair Routledge said, “If you stay at the current oil price then it will happen this year based on the level of expenditures and the production that we anticipate so that’s a significant acceleration. What that then means is that instead of roughly the 14 and a half percent that the country has been receiving by way of revenues into the Natural Resource Fund from the Stabroek production and revenues, what will happen is that percentage will significantly increase.”

World Bank warns against volatile revenues and spending surges

April 30, 2026

In a recent assessment of Latin America and the Caribbean (LAC), the World Bank noted that Guyana’s rapidly expanding oil-driven economy must be carefully managed.

The Bank flagged that while some Caribbean states continue to struggle with high debt, oil-producers like Guyana face a different but equally complex challenge – managing volatile revenues as government spending accelerates.

The report noted beneficiaries from oil production like Guyana must avoid procyclicality where spending rises sharply during periods of high revenues but becomes unsustainable when prices fall.

It noted that public debt trends remain uneven across the Caribbean Basin and Central America. While several countries have reduced debt-to-GDP ratios through economic growth and fiscal consolidation, helping to stabilise public finances and bolster fiscal credibility, others endure significant sustainability challenges.

The findings highlighted divergent economic trends across the region. The Bank noted that among commodity exporters, Trinidad and Tobago and Suriname experienced sharp economic contractions during the pandemic due to falling international commodity prices but has since seen a rebound alongside price recovery.

However, it highlighted Guyana for its exceptional performance, recording sustained and rapid Gross Domestic Product (GDP) growth since 2020, driven by the scaling up of offshore oil production.

“Some highly indebted Caribbean economies continue to face challenges in achieving durable debt sustainability, while oil-producing countries such as Guyana confront the parallel task of managing revenue volatility and avoiding procyclicality as public finances expand rapidly.

This expansion has been accompanied by rising fiscal revenues, improved external balances, and a declining public debt-to-GDP ratio, although the pace of growth also underscores the importance of strengthening public investment management, building institutional capacity and ensuring that oil wealth translates into broad-based and inclusive development.”

2000 local companies flourish from US$700M in oil contracts in 2025

March 29, 2026

President of EMGL, Alistair Routledge told media ExxonMobil Guyana Limited (EMGL) spent approximately US$700M with local suppliers in 2025.

“So last year, some 2000 suppliers were involved in some way, through the supply chain supporting our operations and we spent around GY$146 billion with those 2000 vendors.”

Since 2015, the company spent a total of GY$753B with local businesses.

“I’ve said before, absolutely fundamental that we not only deliver money into the natural resource fund through the revenues that are generated. But in the process of developing the nation’s resources, we deliver as much benefit to people through jobs and business opportunities as we possibly can.”

In addition to supporting local businesses, the company reported growth in the number of citizens employed in the oil and gas sector. Currently, of about 9,000 persons employed in the petroleum industry, about 70% are Guyanese.

“So, again, that percentage of the workforce is increasing, it reflects the level of investment, that companies like ExxonMobil, but also our prime contractors…and local companies are making to invest in their people.”

Guyanese are being given the opportunity to take up more complex jobs and ultimately receive better salaries.

The Government passed the landmark Local Content Law in 2021, securing 40 categories of work for Guyanese participation via the supply of goods and the provision of services which include: food supply, rental of office space, accommodation, insurance, accounting and legal services. The law is intended to regulate the way companies operate in Guyana’s oil and gas sector; employ persons, buy services and the way that they procure goods.

According to the Act, Guyanese must provide:

1. 1. 90% of office space rental;
  2. 90% of accommodation services (rental of houses and apartments);
  3. 25% pipe welding onshore;
  4. 75% non-hazardous waste management;
  5. 90% janitorial and laundry services;
  6. 90% catering;
  7. 75% food supply;
  8. 100% immigration services and
  9. 100% local insurance services

to name a few.

In November last year the GoG commenced the process to revise the Local Content Act to increase participation in the sector. Following the submission process by key players, Natural Resources minister, Vickram Bharrat said that a consultation among all stakeholders will be convened to address the recommendations before amendments are finalised.

Keith Hill named chairman as Eco Atlantic board reshuffle takes effect

March 30, 2026
(WO) –

Eco (Atlantic) Oil & Gas appointed Keith Hill as non-executive chairman following its annual general meeting, as the company advances its offshore exploration portfolio across the Atlantic Margins.

Hill succeeds Peter Nicol, who will remain on the board as a non-executive director. The leadership change comes as Eco Atlantic positions itself for continued exploration and development activity across its core acreage.

Shareholders approved all resolutions, including the company’s omnibus incentive plan, which remains subject to final approval by the TSX Venture Exchange. CEO Gil Holzman thanked Nicol for his leadership during a period of organizational change and portfolio evolution and said Hill’s industry experience and global network will support the next phase of growth.

Eco Atlantic is focused on advancing high-impact exploration opportunities in offshore basins, with an emphasis on portfolio expansion and execution.

Fuel shortage stymies the petrostate

April 14, 2026

Following growing shortages at petrol stations across Guyana, President Irfaan Ali convened an urgent meeting with fuel importers at State House.

The Head of State was assured that efforts are already underway to ease the supply crunch, with shipments expected to begin arriving.

Importers briefed the President on a combination of shipping delays and logistical setbacks that disrupted supply chains, triggering panic buying and queues. State-owned Guyoil indicated that while incoming shipments are expected to bring relief, additional supplies are being sourced to meet the spike in demand. The government is closely monitoring the evolving situation to prevent prolonged disruption.

At the meeting were Prime Minister Mark Phillips, Minister of Public Utilities Deodat Indar and Head of the Guyana Energy Agency, Dr. Mahender Sharma. The developments come against the backdrop of rising global oil market instability, raising concerns that external shocks could continue to impact local fuel availability if supply chains remain strained.

Reuters reported that the sharp blow to global oil production is poised to flip the oil market into a supply deficit this year, analysts say, a huge swing in forecasts that erases previous expectations of comfortable oversupply. The conflict, which began on February 28 , effectively stalled flows through the Strait of Hormuz, a chokepoint for 20% of global oil consumption. Production shut-ins and attacks on energy infrastructure cut deeply into output.

These immediate shocks are expected to translate into an average production loss of 2.13 million bpd across the entire year, analysts said. They expect the market to see its steepest deficit in the second quarter – averaging around 3 million bpd – before tipping back into a surplus of 1.4 million bpd in the fourth quarter.

Analysts warn that projected deficits could steepen depending on how long disruptions persist. Flows remain constrained, with traders reporting no clear signs yet of a sustained resumption in shipments since a ceasefire was announced.

An ⁠estimated 136 million barrels of crude oil and products are stuck in the Persian Gulf due to the conflict, said Vikas Dwivedi, at Macquarie Group. Clearing that backlog is likely to take time. Many shippers still face challenges, with reports of Iran planning to charge fees to ships transiting the Strait .

In Georgetown long lines at fuel stations frustrated motorists. “The gas stations are rationing the gas. You can only get $3,500, that can hardly get me around where I want to go,” one bus driver said outside the Mobil Service Station.

He had been in a queuee for about 30 minutes. Some gas stations were forced to temporarily close their operations due to a lack of fuel. Several Mobil outlets were the first to run out of fuel forcing consumers to rely on suppliers such as Rubis and Guyoil.

Drivers and motorcyclists swarmed several gas stations causing major congestion on main city corridors. ‘No fuel’ signs were seen at several stations . At Guyoil on Regent Street pump attendants were all hands-on deck. They claimed the station had sufficient to supply for the regular quota of consumers per day.

“So far we can’t say we have a shortage because our supply is enough for our normal quota of customers, but as the demand continues we will soon face a limitation.”

At Palmyra, Canje scores of vehicles queued at the fuel station amidst the sharp decline in fuel supply across the country. This sudden development cornered drivers into desperation, as they flock to service stations, many of which have either been closed or vending the resource moderately.

The fuel shortage affected a major transshipment route for fuel around the globe. Australia, Ireland and Mozambique have already reported a rise in oil prices and shortage of fuel supply.

Guyana was already facing a hike two weeks after state-owned Guyana Oil Company (GUYOIL) assured consumers of its “strict regulatory and compliance framework” to safeguard consumers from “undue market volatility” and slapped on extra costs on all fuel products with no official notice to consumers.

In March fuel prices at the pumps soared past $200 per litre of gasoline, which continued to fluctuate. Over the weekend, GUYOIL’s website advertised gasoline at $190 per litre; $198 per litre of diesel, $155 for kerosene and $215 per litre of its Ultra Low Sulphur Diesel (ULSD). While other service stations increased their fuel prices two weeks ago, GUYOIL maintained its prices, selling gasoline for $170, diesel for $190 and kerosene at $155 per litre.

U.S. Envoy urges reform of tendering process

April 30, 2026

On a recent episode of the Energy Perspectives podcast, US Ambassador to Guyana, Nicole Theriot advised reforms to Guyana’s tender system, outlining that US companies seek predictability and transparency when entering foreign markets. Clearer and more modern procurement processes would provide international investors with greater confidence in Guyana.

“U.S. companies are always looking for security, for reassurance to know that when they’re investing or when they’re partnering in a foreign country that the regulations and the rules and what’s going to happen are very clear.

Guyana could do itself a huge favour, not just for U.S. companies, but for all international companies if they looked at modernizing the tender process.”

She. pointed to specific improvements such as digitizing submissions and strengthening oversight of major public contracts.

“I think that’s something that could really add a lot of value and it would be a win for all of us…those things would give U.S. and international companies peace of mind, so that when they’re dealing with Guyana, they know exactly what the requirements are, what they need to do, and how it’s going to work.”

Her comments reflect great foreign interest in Guyana as rapid economic expansion is fuelled by its petroleum sector.

She previously raised concerns affecting American firms in Guyana and indicated that the US Embassy is working to eliminate double taxation for American companies operating in Guyana who complained that they are required to pay taxes twice – once in Guyana and then in the United States.

“We do not have a bilateral tax treaty. That is something that my office, my embassy here, has been working very closely with Washington on. We’re trying to convince them that this would be useful. Because, obviously, if you’re a U.S. company, you don’t want to have to pay taxes both in Guyana and in the United States. That’s patently unfair.”

Theriot revealed that American companies are expanding rapidly across several sectors in Guyana but absence of a bilateral tax treaty with Guyana is a key concern for investors. Now that Guyana is becoming a popular destination for U.S. investment, she thinks that it’s natural that there will be areas the country should revisit including laws and regulations.

Guyana currently has double taxation agreements with Canada, the United Kingdom, CARICOM and the United Arab Emirates, but not with the United States. Instead, the two countries have a Tax Information Exchange Agreement, which allows for the sharing of financial information but does not address double taxation.

U.S vote of confidence in leadership

March 30, 2026

Newly-assigned US Ambassador to Guyana Nicole Theriot believes the Irfaan Ali-led PPP/C administration is governing with the best interests of the Guyanese people in mind, pointing to widespread infrastructure development and strategic use of oil revenues.

On the SOURCES programme, Theriot offered a positive assessment of governance and institutional direction at what a critical stage in Guyana’s development.

“I honestly believe that the current leadership of this country has the people’s best interests at heart.”

Theriot highlighted the scale and reach of infrastructure projects across the land, noting that development is not limited to the capital.

“I look around at all of the infrastructure projects going on and it’s really important to note they’re not just in Georgetown. I travel all around the country, and I see it everywhere I go.”

The government is strategically using oil revenues to fund projects aimed at long-term national benefit.

“They are using the oil revenues that they’re receiving now… to create critical infrastructure that will benefit all Guyanese.”

Addressing criticism directed at large-scale infrastructure spending, Theriot defended the government’s approach, referencing President Irfaan Ali’s own remarks.

“People sometimes criticize him because you can’t eat a road. But the fact is that is going to allow the Guyanese farmer, business people, the average citizen, to move more freely and quickly around the country.”

She explained that improved connectivity will translate into tangible economic and personal benefits for citizens.

“That is going to improve the personal circumstances of the Guyanese people.”

The US diplomat sees Guyana progressing in a positive direction overall.

“I see everything moving in the right direction.”

She expressed appreciation for Guyana’s continued partnership with the United States in its development trajectory.

“I’m so proud and grateful that we are continually turned to as the partner in that development.”

Theriot underscored the value of collaboration with American companies, citing quality and ethical standards.

“When you work with a US company, you’re going to have quality, sustainability and very high business ethics standards and international quality.”

Guyana’s decision to engage US partners has been beneficial.

“Working with the US was a wonderful decision that was made by your government.”

Deepening Trinidad and Tobago–Guyana ties Vashti Guyadeen

March 31, 2026

The relationship between Trinidad and Tobago and Guyana is entering a new phase at a defining moment. The question is whether we are prepared to match that moment with strategy, scale and intent.

Guyana’s economic expansion is not incremental. It is transformational. According to the International Monetary Fund, Guyana’s real GDP averaged growth of approximately 47% annually since 2022, with oil production projected to reach 1.7 million barrels per day by 2030.

This level of expansion is already reshaping demand, investment flows and commercial opportunity across sectors.

For Trinidad and Tobago, this is not a distant opportunity. It is immediate and material. In 2023, Guyana imported over US$375.67 million in goods from Trinidad and Tobago according to the UN Comtrade database, and by 2024 it had become our second largest export destination, accounting for 5.2% of total export value, according to Lloyds Bank analysis.

The commercial relationship is established and Trinidad and Tobago firms are already active across distribution, energy and services.

Now, the nature of that engagement must evolve. Our export profile remains concentrated in mineral fuels, chemicals and iron and steel. While these reflect the strength of our industrial base, they do not align with the full scope of demand emerging in Guyana’s rapidly expanding economy, particularly across infrastructure, services and consumer markets.

Presence alone is no longer sufficient. This is why the upcoming engagement with His Excellency Mohamed Irfaan Ali is significant. This is not simply a high-level visit. It is an opportunity to deepen economic ties and define a more structured, long-term partnership between both countries.

At the centre of this partnership is energy. Trinidad and Tobago brings a century of experience in gas monetisation, downstream development and energy services. Guyana brings scale, momentum and a rapidly expanding upstream sector. The alignment is clear. There is a natural opportunity to collaborate on gas development, infrastructure and industrialisation in a way that strengthens both economies. This is not about competing positions in energy. It is about complementary strengths.

Beyond energy, there is a second, equally critical pillar: food security. Guyana’s agricultural capacity, combined with Trinidad and Tobago’s strength in processing, distribution and market access, creates a practical pathway to accelerate food production and reduce reliance on imports.

Through Flavours of Change, the Trinidad and Tobago Chamber is translating the Guyana–Trinidad and Tobago partnership into action by connecting Guyana’s agricultural scale with Trinidad and Tobago’s processing and market reach to accelerate food security while building export-ready, globally competitive Caribbean cuisine.

This is how food security must be approached. Not as a policy ambition, but as a commercial ecosystem. For the private sector, this moment requires a shift in approach. Exporting into Guyana is no longer enough. Businesses must position within the market.

This means establishing presence, pursuing joint ventures, aligning with procurement systems and building long-term partnerships. Companies that approach Guyana as a short-term sales opportunity will be outpaced by those that commit to the market.

Preparation will determine participation. At the policy level, there must be a parallel shift. Trade must evolve into investment. This requires addressing regulatory bottlenecks, improving coordination and ensuring that the movement of goods, services and capital between both countries is efficient and predictable.

The Trinidad and Tobago Chamber of Industry and Commerce is therefore deliberate in its approach. Following President Mohamed Irfaan Ali’s address, the Public Private Partnership Panel at the Chamber’s Annual Business Meeting will focus on operationalisation, bringing together public and private sector leaders to identify how policy commitments can be translated into structured partnerships, bankable projects and measurable outcomes.

This is where the shift must occur. From discussion to delivery. Our engagement is focused on creating direct alignment between the private sector and decision-makers at a time when opportunities must be translated into outcomes. This includes identifying priority sectors, resolving constraints and facilitating structured commercial engagement between firms in both countries.

The objective is not participation at the margins. It is positioning at the centre of Guyana’s growth. The reality is that Guyana represents the most significant economic opportunity in the region at this time. For Trinidad and Tobago, the response must be equally significant.

We have the industrial capability, the services expertise, the geographic proximity. What is required now is coordination, urgency and a clear strategy to deepen and expand our economic ties with Guyana. The opportunity is already established. The relationship is active. The question now is whether we are prepared to strengthen it in a way that delivers long-term value for both countries.

EDITORIAL

Guyana has ample land and water with long-term energy supply for regional food security to create jobs.

Wetlands can support ranches for water buffalo, source of milk for vegetarians, cheese, meat, leather and rural sport, consuming a variety of vegetation, conserving rural environments.

Fresh-water fish offer protein in a healthy diet, fresh, frozen, salted, dried, smoked and fermented as paste.

Cheap electricity can support freezer stores for dairy, yogurt, ice cream, frozen fruit and vegetables.

Waste land can be converted to gardens for salads, herbs and spices.
Tree fruits and nuts flourish on slopes while plains support bananas, roots and cereal.
Corn provides bread . Rice is versatile as a carbohydrate with meat, fish and vegetables.
Coasts can supply coconut for food, oil and crafts.

Bamboo conserves rivers and supplies material for furniture, crafts, toys, utensils, instruments, and construction.
Cottage industries include embroidery, weaving, ginger jam, guava jelly, oriental chutney, snacks and delicacies.

Perennial cotton can be revived for a textile industry, medical products, fashion, household linen and furnishings.

UWI Faculty of Agriculture and IICA have world-class expertise in Agriculture.

GUYANA