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Whose is bigger? Brazil, Guyana will host world’s largest floating oil production vessels

Shikema Dey -
Oil production vessels definitely have a wow factor. Their sheer size, processing power and capability of operating for decades without pause make them truly impressive facilities. The ‘Egina’ is a beast of a floating, production, storage, and offloading (FPSO) vessel...
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IMF urges fiscal discipline for spending oil money; Jagdeo says it’s being managed

OilNOW -
With a steady flow of billions of dollars in oil revenues expected, the International Monetary Fund (IMF) is urging Guyana to implement a strict fiscal rule to rein in excess spending. According to the IMF, Guyana is at high risk...
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Saipem bags contract for largest discovery in 20 years off Ivory Coast

OilNOW -
Saipem said Tuesday that it got approximately €1 billion added to its order book to aid the Baleine Phase 1 Project, a development of an oil and gas field located at 1,200 metres water depth, off the Ivory Coast. Saipem said...
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Guyana says new offshore model contract being finalised; auction imminent

OilNOW -
The Guyana government said the Cabinet is working to finalise the model contract which will apply to its offshore auction to be launched soon. The auction will be open for several months, giving companies ample time to prepare competitive packages,...
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City Chamber’s Guyana Basins Summit over 90% sold out, exhibition open to public

OilNOW -
The second edition of the Guyana Basins Summit (GBS) is over 90% sold out and ready for its opening next week, October 4-6, 2022 at the new Pegasus Suites & Corporate Centre. The Georgetown Chamber of Commerce and Industry (GCCI) is the lead...
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Guyana will not be like countries that splurge oil money, and have nothing to show for it – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo said he has seen many oil-producing countries around the world splurge their windfall revenues and have nothing to show for it in the end.  This, he said, will not be a fate that befalls...
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Oil can “profoundly” transform Guyana’s economy – IMF

Shikema Dey -
With a discovered petroleum resource count of close to 11 billion barrels of oil equivalent, Stabroek Block operator ExxonMobil has churned out big wins for Guyana. Now, the International Monetary Fund (IMF) said that when this number tips over, Guyana’s...
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Capricorn ditches Tullow merger for NewMed Energy

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British International Oil Company (IOC) Capricorn Energy announced a proposed merger with NewMed Energy to create a Middle East and North Africa (MENA) energy champion. The deal, which Capricorn said would create one of the largest upstream energy independents listed...
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Trinidad’s National Gas Company records TT$1.6 billion profit, helped by price rebound

OilNOW -
Amidst an aggressive push by State authorities to maximise earnings from its gas resources, the National Gas Company of Trinidad and Tobago (NGC) was pleased to disclose on Wednesday that it recorded a profit of TT$1.6 billion, together with...
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Guyana seeks consultant to review development plan for Exxon’s giant Uaru project

OilNOW -
The Government of Guyana issued on Wednesday, a request for Expressions of Interests (EOI) from suitable consulting firms to review the Uaru Field Development Plan (FDP) to be prepared by ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana...
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Guyana's Oil LedgerKemol King -

Guyana oil fund gets US$228 million in October

Guyana received US$228 million (GY$48 billion) in oil revenues in October, according to the latest update on the operations...

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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