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TotalEnergies keen on managing costs; not opposed to delaying Suriname development

Shikema Dey -
Delaying Suriname’s first oil development is an option for Block 58 operator TotalEnergies. Costs are seen as fundamental in this decision, its Chief Executive Officer, Patrick Pouyanne told investors on Feb. 7 during a Q4 2023 earnings conference. He said that...
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Guyana working with U.S., UK, France, Caricom and others to ensure peace in region – Ali tells Newsweek

Shikema Dey -
South America’s rising oil giant Guyana is working with a large and diverse group of countries to build a robust mechanism in pursuit of peace and stability in the region. “We're taking seriously every threat by Venezuela. We're not taking...
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World needs more investments in oil production no matter the speed of energy transition – Rystad Energy

OilNOW -
Despite great uncertainty in new long-term scenarios envisioned by Norwegian energy research and intelligence firm, Rystad Energy, further investments in oil production are definitely needed to meet the next three decades of demand. “If investments in oil production were to...
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Transocean secures lucrative contracts for three drilling rigs, boosts backlog to US$9 billion

OilNOW -
Offshore drilling contractor Transocean has announced significant contract acquisitions for three of its drilling rigs, enhancing its quarterly fleet status report with a notable boost in backlog to approximately US$9 billion. Transocean to deploy ultra-deepwater drillship for US$518M GoM job...
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Frontera sets 2024 CAPEX at US$272-335 million

OilNOW -
Frontera Energy Corporation revealed its financial plan for 2024 on Feb. 15 and the results of its performance during Q4 2023.  Key projections for 2024 include consolidated operating earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$400-450 million at...
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Guyana willing to help deal with Tobago oil spill – Jagdeo

OilNOW -
Guyana Vice President Bharrat Jagdeo said Guyana is willing to help Trinidad and Tobago with the oil spill that is affecting the smaller island.  “It has become an international event - a tier 3 event. So, a number of international...
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Guyana wants to be global pioneer on climate, energy and food security, says Ali

OilNOW -
President Irfaan Ali has articulated Guyana's plan to be a global leader in tackling the challenges of climate change, energy sustainability, and food security. The country is using the momentum from its oil-fueled development to expand its influence and...
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Exxon awards SBM Offshore for supplier excellence in support of Guyana operations

OilNOW -
SBM Offshore has received the 2023 Ruby awards for supplier excellence from U.S. oil major, ExxonMobil, for delivering best-in-class operations of floating production, storage and offloading (FPSO) vessels for Guyana. SBM Offshore was contracted by ExxonMobil to deliver and operate...
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Guyana’s Uaru was MODEC’s highest earning EPCI project of 2023

OilNOW -
MODEC unveiled its 2023 financial results, spotlighting a significant profit uplift due to the successful advancement of its engineering, procurement, construction, and installation (EPCI) projects, alongside enhanced asset integrity of its older Brazil floating production, storage and offloading (FPSO)...
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Liza, Payara will continue producing oil into late 2040s

Kemol King -
Guyana's Vice President, Bharrat Jagdeo, during a Feb. 15 press conference, highlighted that the Liza and Payara projects are projected to sustain oil production until the late 2040s. The production profile for the projects, informed by data from ExxonMobil,...
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Guyana's Oil LedgerKemol King -

Guyana oil fund gets US$228 million in October

Guyana received US$228 million (GY$48 billion) in oil revenues in October, according to the latest update on the operations...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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