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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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Idiotic to say Exxon’s offshore operations responsible for heat wave – Guyana VP

OilNOW -
Though it is a well-established fact that El Nino, a natural climatic phenomenon, is contributing to higher temperatures in many parts of the world, some critics of oil and gas are blaming it on ExxonMobil’s operations located more than...
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Qatari Emir breaks ground on North Field expansion project 

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Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundation stone of the North Field expansion project, which will raise the State of Qatar's LNG production capacity from the current 77 million tons per...
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Guyana may use bridge financing until US EXIM Bank loan comes in for Gas-to-Energy project

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The Gas-to-Energy project, a critical development in Guyana, is steadily advancing. Amidst this progress, Guyana’s Vice President, Dr. Bharrat Jagdeo, has mentioned the possibility of using bridge financing to sustain the project until the awaited loan from the United...
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ExxonMobil not inclined to purchase Guyana’s carbon credits – Jagdeo

OilNOW -
Guyana Vice President Dr. Bharrat Jagdeo has revealed that ExxonMobil has shown no interest in purchasing Guyana’s carbon credits. When questioned on the issue, Jagdeo remarked, “We raised this matter with them. They have not been positively inclined to...
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Baker Hughes secures major LNG contract with Venture Global

OilNOW -
Baker Hughes, a leader in energy technology, has clinched a substantial contract to furnish a modularised liquefied natural gas (LNG) system and power island. This contract, which will be recorded in Q3 2023, stems from an expanded master equipment...
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President Ali wants Guyana’s private sector to form supply vessel group for offshore assignments

Guyana President Irfaan Ali on Friday urged the country’s private sector to form a consortium capable of joining offshore...

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