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Guyana profiting more from oil production than Exxon, Hess and CNOOC combined – Analyst

OilNOW -
A new review of the consolidated financial statements for ExxonMobil Guyana, Hess and CNOOC for the period ended December 2021 confirms that the South American country is profiting more from the offshore oil production activities than all three companies combined. Financial...
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Anna Nery FPSO in voyage to Brazil

OilNOW -
Petrobras said last Friday that the Anna Nery floating production storage and offloading (FPSO) vessel began its voyage to Brazil, from the Cosco Qidong shipyard in China. The platform is expected to start producing oil in 2023 in the...
News

Rich countries have “no moral authority” to tell Guyana, Suriname, T&T to keep oil in the ground

OilNOW -
The climate crisis has seen wealthy countries that have built and transformed their economies with oil and gas, calling on countries in Africa, South America and the Caribbean, to hold off on developing their hydrocarbon resources. Calls have mounted for...
News

Ramps in new bid for local company status

OilNOW -
Ramps Logistics Guyana has made its second attempt at gaining local company status from Guyana’s Local Content Secretariat (LCS) with a new application. The company said that the new application to the Local Content Registry submitted on July 14, included...
News

Guyana’s oil fund earns GY$266M interest in Q2

OilNOW -
During the second quarter ended June 30, 2022, Guyana’s Natural Resource Fund (NRF) recorded a profit of GY$266.04 million (US$1.28 million) solely due to interest earned on deposits, says manager of the account, Central Bank of Guyana.  During the quarter,...
News

Private sector, as beneficiaries of oil wealth, should stand up to anti-oil lobbyists – Guyana VP

OilNOW -
The billions of barrels of oil and gas contained in the offshore Guyana basin belongs to the people, including the country’s private sector. In this regard, Guyana’s Vice President, Dr. Bharrat Jagdeo, is calling on the business community to...
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New Guyana FPSOs to be built with Liza Unity’s record sustainable design – Exxon

OilNOW -
ExxonMobil has marked a milestone with the SBM Offshore built and operated Liza Unity floating production storage and offloading (FPSO) vessel for its second oil development in the Stabroek Block offshore Guyana. It was the first FPSO in the world to be...
Exploration

Tullow expects results for Beebei-Potaro well in third quarter of 2022

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Tullow Oil said it expects drilling completion and results for the Beebei-Potaro well offshore Guyana in the third quarter of 2022. This was stated in its July trading statement and operational update, released on Wednesday. The Beebei-Potaro prospect is targeting...
News

VP to Guyana private sector: Improve financial standing to bridge funding gap

Shikema Dey -
Access to finance has been a major deterrent to local businesses looking to service Guyana’s oil and gas sector. After all, the development cost for just one of ExxonMobil’s offshore projects overshadows Guyana’s annual budgets. Calls have mounted for the...
News

Leading the charge, Guyana to host regional solar alliance conference

OilNOW -
Guyana received a four-person team from the International Solar Alliance last week in preparation for the Fourth Regional Meeting of the Latin American and Caribbean Region of the International Solar Alliance (ISA) to be held from August 3-5 in Georgetown. ISA member states use the...
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As Errea Wittu FPSO takes shape, MODEC deepens roots in Guyana with permanent office 

Merely days after the Errea Wittu FPSO arrived in Singapore for the next stage of construction, builder MODEC marked...

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