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Exploration

Exxon targeting more crude at Bluefin-1

OilNOW -
ExxonMobil Guyana has commenced exploration drilling operations at the Bluefin-1 well site, situated within the Stabroek Block of Guyana's Exclusive Economic Zone, as announced by Guyana's Maritime Administration Department. This move comes as part of the company's vigorous exploration...
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Bhagwandin stresses Guyana’s need to strengthen ties with allies amid escalating Venezuela controversy

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Amid escalating tensions with Venezuela over offshore oil blocks and territorial claims, Joel Bhagwandin, a researcher and financial analyst, has underscored the critical importance of Guyana deepening its relations with the United States (US) and other allies to safeguard...
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ANP approves pre-salt exploratory blocks in Santos Basin for upcoming bid rounds

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The Board of Directors of Brazil's National Petroleum Agency (ANP) has given its approval to the geological and economic studies of three exploratory blocks situated in the pre-salt region of the Santos Basin. These blocks, known as Amazonita, Safira...
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Guyana power generation, demand reaching record highs, stirring call for conservation

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In the wake of rapid economic growth, Guyana is witnessing its highest-ever electricity generation and demand. According to a September 29 notice from Guyana Power and Light Inc. (GPL), the Demerara-Berbice Interconnected System (Guyana’s central grid system) recorded a...
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TechnipFMC secures “significant contract” to supply flexible pipes for Petrobras’ pre-salt fields

OilNOW -
TechnipFMC has announced that it has been awarded a substantial contract to provide flexible pipes to Petrobras for use in the pre-salt fields located offshore Brazil. In TechnipFMC's terms, a "significant" contract typically falls within the range of US$75...
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TotalEnergies to pay part of APA’s CAPEX for Suriname project, in exchange for cost oil – CEO

Kemol King -
TotalEnergies has confirmed its commitment to the massive oil development project in Block 58 off the coast of Suriname, with Chief Executive Officer (CEO) Patrick Pouyanne announcing the company’s plans to shoulder a portion of APA's CAPEX for the...
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Trini trade mission of 31 companies coming to Guyana in October

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The Trinidad and Tobago Manufacturers Association (TTMA) has announced a trade mission to Guyana from October 3 to 7, 2023. The mission, led by TTMA's President, Roger Roach, aims to fortify ties between the two Caribbean Community (CARICOM) nations...
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Fifth withdrawal this year from Guyana’s oil fund takes total to US$650 million 

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Guyana has made its fifth withdrawal from the Natural Resource Fund (NRF) for 2023, the Ministry of Finance announced on Sept. 29.  According to the release, the government withdrew US$50 million (GY$10.4 billion) this month.  Back in August and September, amounts...
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S&P expects first Payara crude cargoes to load in November

OilNOW -
Guyana's emerging Payara Gold crude is on schedule for its first official loading in November. This update is based on a program obtained by S&P Global Commodity Insights. The said program schedules two 1-million-barrel cargoes of Payara to load in...
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QatarEnergy hires Hyundai to build 17 LNG carriers

OilNOW -
Marking the coming expansion of Qatar's LNG export capabilities, QatarEnergy has announced a massive deal with Hyundai Heavy Industries (HHI) of South Korea. Under the agreement, HHI will construct 17 state-of-the-art LNG carriers, with the total transaction being valued...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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