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CGX, Frontera and the Corentyne block: What to look out for

Kemol King -
CGX Energy and Frontera Energy are expected to report to the market soon about their plans for the Corentyne block offshore Guyana. Frontera’s earnings report for the third quarter is expected on November 9, and CGX’s usually falls in...
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Exxon seeking oceanology, meteorology consulting services for Stabroek block operations

OilNOW -
ExxonMobil Guyana Limited (EMGL) is actively searching for meteorology and oceanography consulting services for its Stabroek Block operations in Guyana. Stabroek Block supplied 12 million crude barrels to market in July | OilNOW  In a public Request for Information (RFI),...
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Guyana-Venezuela land boundary was settled 124 years ago

OilNOW -
Historical Context The 1899 Arbitral Award, which definitively settled the land boundary between Guyana and Venezuela, was the result of a legitimate process that was set in train in 1897. Prior to 1897, the boundary between British Guiana and Venezuela...
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1,300 Guyanese women supporting Exxon activities onshore and offshore

OilNOW -
New half-year local content data from ExxonMobil Guyana Limited (EMGL) indicate that 1,300 Guyanese women are supporting the company's operations both on and offshore, in the South American country. EMGL said that Guyanese represent 69% of its overall workforce.  A total...
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Chevron’s strategic move bolsters Guyana’s global oil dominance, says Sankey president

Shikema Dey -
Paul Sankey, president and lead analyst at Sankey Research, has emphasized Guyana's status as a prime takeover target due to its exceptional oil assets, marking it as a global leader in the industry. Speaking on Chevron's recent acquisition of Guyana's...
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Halliburton’s third quarter revenue at US$5.8 billion

OilNOW -
Halliburton Company announced, on October 24, net income of US$716 million, or US$0.79 per diluted share, for the third quarter of 2023. This compares to net income for the second quarter of 2023 of US$610 million, or US$0.68 per...
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Deakin sees Venezuela’s referendum as ploy to rile up population

Shikema Dey -
A “nationalist movement” is how Director of Energy at Americas Market Intelligence (AMI) Arthur Deakin characterized Venezuela’s national referendum on the Guyana border controversy.  The referendum was approved unanimously back in September by Venezuela’s house to decide what action to...
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Suriname wants to leverage future oil royalties to extend debt repayment deadlines

OilNOW -
Suriname is moving to use future oil royalties as collateral to manage about US$314 million of its debt.  The country has crafted oil-linked securities that hinge on royalty revenues to be generated from its first offshore oil development project in...
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Sheriff Group turns sod for first mall in Guyana’s Berbice County

OilNOW -
The Sheriff Group of Companies today turned the sod for the first mall in Guyana’s Berbice County.  The four-phase mall will be located at Palmyra, close to the Berbice River bridge.  The region is quickly becoming a hub for development because...
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Guyana, Permian continue to boost Exxon’s earnings

OilNOW -
ExxonMobil, one of the world's leading energy companies, has announced robust third-quarter earnings of US$9.1 billion, surpassing the second-quarter earnings of US$7.9 billion. It said that the performance was underpinned by a strong operational showing, including record refining throughput...
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Exxon says U.S. senators were misled; no Guyana tax credits included in its 2023 & 2024 filings

President of ExxonMobil Guyana, Alistair Routledge, has rejected claims that the company benefited from tax credits in Guyana for...

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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