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Noble’s Q2 earnings come in at US$606 million

OilNOW -
Noble Corp. announced robust financial results for the second quarter of 2023, showcasing a positive growth trajectory amidst an upswing in market conditions. The company reported contract drilling services revenue of US$606 million for the quarter, representing an increase...
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Europe ranks as top buyer of Guyana’s Liza and Unity Gold crude – S&P Global

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Russia’s invasion of Ukraine foisted Europe to the top as one of the largest buyers of Guyana’s Liza and Unity Gold crude, said S&P Global Commodity Insights' oil pricing and news expert Patrick Harrington.  “Until recently, the bulk of Guyana...
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Guyana private sector urged to cash in on ‘never-ending opportunities’

OilNOW -
"If you not in the business, get in the business" was the advice of Government Minister, Deodat Indar to the 360-member strong Guyana Manufacturing and Services Association (GMSA) as it celebrated 60 years of existence on August 3.  His feature...
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Upcoming major shorebase seeking local suppliers for up to 90 services

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The Vreed-en-Hoop Shorebase Inc. (VEHSI) has taken a significant step towards its December completion date by seeking local service providers to meet its operational needs. The company recently published a request for information (RFI) to identify potential contractors offering...
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More dredging of Demerara channel to support VEHSI project

OilNOW -
Dredging activities continue in the vicinity of Guyana’s Demerara main ship channel and off the West Coast of Demerara around Plantation Best to support the Vreed-en-Hoop Shore Base Project (VEHSI).  A notice from the Maritime Administration Department (MARAD) outlined that...
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In three short years, Guyana transformed legislative, regulative framework for oil industry – VP Jagdeo

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As the Guyana Government marked its third year in office on August 2, 2023, it reveled in the progress made thus far in overhauling the legislative and regulatory architecture of the oil industry. Dr. Bharrat Jagdeo, the country’s Vice...
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Steady output at Liza projects in June delivered highest daily volumes yet

Kemol King -
The Stabroek Block’s Liza projects delivered steady volumes at peak levels in June 2023, resulting in the highest daily volumes yet.  Liza Phase 1 delivered 154,790 barrels per day (bpd), totaling 4.3 million barrels over the full month. Liza Phase...
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Block 58: Krabdagu-3 appraisal well confirms extension of oil resource 14 km from initial discovery offshore Suriname

OilNOW -
Suriname is one significant step closer to its highly anticipated offshore oil development as APA Corporation reported that Krabdagu-3 appraisal well in Block 58 confirmed an extension of oil resources, some 14 kilometres from the original prospect.   APA holds a...
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Current oil price forces Biden to push back purchase of six million barrels for emergency reserve

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In response to soaring oil prices that have rallied above US$80 a barrel, the Joe Biden administration is once again postponing the replenishment of the nation's emergency oil reserve. The decision comes as the Department of Energy (DOE) is...
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Oil minister tables historic petroleum bill in Guyana Parliament 

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, has tabled the Petroleum Activities Bill 2023 in the country's Parliament. The Bill was initially published for consultation with stakeholders and has now been revised by the government to incorporate acceptable comments. In...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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