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Fire aboard Equinor FPSO quickly contained at Norway shipyard

OilNOW -
A fire that occurred on the Johan Castberg floating production, storage and offloading (FPSO) vessel, Johan Castberg was contained shortly after being identified on Thursday, according to a Reuters report. A company spokesperson told Reuters the vessel suffered only minor...
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CGX unlikely to deliver Berbice Deepwater Port on time

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“Certain delays” have forced CGX Energy Inc. to push back the operationalisation of the massive Berbice Deepwater Port even as the Guyana government expresses concerns of the timeline of completion. “As a result of certain delays, the Company believes it...
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With focus on Guyana, Frontera increases full-year CAPEX guidance to US$495M

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Consistent with its increased working interest in the Corentyne block in Guyana, as previously announced on July 22, 2022, and reflective of the spending commitment at the upcoming Wei-1 exploration well, Frontera Energy Corporation has increased its total capital...
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Petrobras shifting focus to deepwater assets, selling off shares in shallow & onshore clusters

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Brazil’s state-owned Petrobras has finalised the sale of all its stakes in the Fazenda Belém and Icapuí onshore fields – also called the Fazenda Belém Cluster – to 3R Fazenda Belém S.A., an oil and gas company with focus...
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With resources topping 17 billion boe, Guyana-Suriname Basin boosting Noble earnings

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Contract drilling services revenue earned by Noble Corporation for the second quarter of 2022 totalled US$262 million compared to $195 million in the first quarter, it reported Monday. Noble said marketed fleet utilisation was 85% in the three months ended...
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US$1.8M IDB loan to push involvement of private sector in Gas-to-Energy project, other major initiatives

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The Ministry of Finance is in receipt of a US$1.8M loan from the Inter-American Development Bank (IDB), a portion of which will be used to push the involvement of the private sector in major projects such as the Gas-to-Energy...
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Business group in Guyana calls for removal of visa requirement to UK, as direct flights set to resume

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A key representative of businesses in Guyana - the Georgetown Chamber of Commerce and Industry (GCCI) - will be lobbying for the removal of the United Kingdom (UK) visa requirement as British Airways is set to resume direct flights...
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Frontera snags a modest US$13.5M net income in 2022 second quarter

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Frontera Energy Corporation disclosed on Wednesday morning that it recorded a net income or profit of US$13.5 million or US$0.14 per share in the second quarter of 2022. This is a significant drop when compared with a net income...
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World’s fastest-growing economy moves to slash transportation costs, travel time with US$115M IDB loan

OilNOW -
Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the quality, accessibility, resilience, and safety conditions of transportation networks, thereby improving travel time. The project-specific objectives are to reduce the Golden...
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Guyana earns GY$60 billion in profit oil, royalties for July

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The latest monthly report on Guyana’s Natural Resource Fund (NRF) shows that the account earned GY$10.646 billion in royalties and GY$50.127 billion in profit oil. This totals approximately GY$60.773 billion (US$291.477 million). The Bank of Guyana report states that net...
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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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