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Guyana among major oil producers driving global subsea tree demand – Westwood

OilNOW -
Westwood Global Energy Group has released its 2023-2027 subsea tree demand outlook, projecting a total demand of approximately 1,555 units over this period. Notably, Brazil, Guyana, and Norway are expected to account for roughly 40% of the global demand...
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Trinidad could tap gas from Venezuela’s Loran field too, Young tells Parliament

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Trinidad and Tobago's Minister of Energy Stuart Young announced on October 9 that negotiations are underway to secure gas supply from the Loran side of the Loran/Manatee gas field shared by Venezuela and the twin island republic nation.  Speaking during...
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Oceaneering secures multi-million dollar contract with Petrobras for Brazilian operations

OilNOW -
Subsea solutions provider, Oceaneering, has inked a five-year contract with Petrobras, potentially valued at up to US$75 million. The contract will be managed by Oceaneering's Brazilian subsidiary, Marine Production Systems, and focuses on the operation of three existing drill...
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ExxonMobil to acquire Pioneer Natural Resources in largest merger since the 90s

OilNOW -
ExxonMobil Corporation and Texas-based hydrocarbon explorer, Pioneer Natural Resources, have announced a definitive agreement for Exxon to acquire Pioneer in an all-stock transaction valued at US$59.5 billion, equivalent to US$253 per share based on Exxon's closing price on October...
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Massive economic growth demanding huge energy supply in South America’s hotspot

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A deluge of massive infrastructure projects and building programmes is underway in South America's newest oil producing nation, Guyana. This growth surge is seeing a huge demand for energy which authorities say will continue to increase. But a recent...
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Latest IMF report sees accelerated growth projections for Guyana as oil production soars  

OilNOW -
In a world grappling with economic uncertainties, Guyana’s growth continues to be in a league of its own. The latest World Economic Outlook report, published by the International Monetary Fund (IMF) on October 10 themed "Navigating Global Divergences", projects...
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OPEC bumps up long-term oil demand forecast, calls for US$14 trillion investment

OilNOW -
In its annual outlook, the Organization of the Petroleum Exporting Countries (OPEC) has raised its world oil demand forecasts for the medium and long term. The organization emphasized the need for US$14 trillion in investments to meet this demand,...
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Guyana gov’t already planning third national budget to be fueled by oil revenues

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Guyana is planning its national budget for the fiscal year 2024, the third such for which oil revenues will be a contributor. Recent consultations with the country’s trade unions were led by Prime Minister, Brigadier Mark Phillips, and Senior...
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Guyana produced over 90 million barrels of oil in first eight months of 2023

Kemol King -
ExxonMobil’s Stabroek Block projects have produced approximately 91 million barrels of crude, according to data from the Ministry of Natural Resources’ Petroleum Management Programme. Average output for the year is approximately 377,850 barrels per day (bpd). Liza 2, in...
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Exxon seeking firms to provide air quality, ocean current monitoring services

OilNOW -
In two public requests for information, ExxonMobil Guyana Limited said it plans to put agreements in place to provide ocean current monitoring services and air quality monitoring stations.  As such, suitable firms are being sought.  Firstly, Exxon said it needs five...
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GranMorgu development to also tap Baja discovery – TotalEnergies

TotalEnergies announced on Friday that it will leverage its GranMorgu development to also tap the Baja discovery in Suriname's...

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