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Guyana earns GY$60 billion in profit oil, royalties for July

OilNOW -
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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No approved, charted fishing grounds exist in dumping area for shore base dredging – MARAD

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Guyana’s Maritime Administration Department (MARAD) has been closely monitoring the dredging of the Demerara channel for the massive Port of Vreed-en-Hoop project amid concerns that the activity is disrupting the livelihood of local fishermen. Media reports claimed that the silt...
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Pipe coating contract for Yellowtail awarded to Shawcor

OilNOW -
Canadian oilfield service company, Shawcor Ltd. said its pipe coating division has been awarded a definitive contract by Saipem for ExxonMobil’s fourth Stabroek Block development – Yellowtail. A definitive contract ranges between CA$40 million - CA$50 million. Shawcor will be providing...
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House ratifies Guyana’s low carbon development strategy

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Following several months of technical work and extensive nationwide consultations, the National Assembly ratified Guyana’s new and expanded Low Carbon Development Strategy (LCDS) 2030 on Monday. LCDS 2030, an update to the one launched in 2009 by then President Bharrat...
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Transocean nets US$1.2 billion in drilling contracts for Brazil, Gulf of Mexico

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Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling in Brazil and the Gulf of Mexico. The combined value of these contracts exceeds US$1.2 billion. The Swiss-based driller said the...
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Oil exports to surpass US$3B; to represent 59.7% of Guyana’s GDP this year – IDB

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The Inter-American Development Bank (IDB) has commented in one of its latest publications that Guyana’s oil boom will drive hydrocarbon exports beyond US$3 billion this year and also account for 59.7% of Gross Domestic Product (GDP). It further noted in...
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Production data for Liza, Unity Gold Crude show output peaked at 365,000 bpd in June

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Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...
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Touchstone’s Cascadura project moves closer to approval

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Trinidad and Tobago’s Environmental Management Authority (EMA) has received the full Environmental Impact Assessment (EIA) for Touchstone Exploration’s Cascadura onshore gas project. The EIA supports the company's application for a Certificate of Environmental Clearance (CEC) to carry out its development...
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Fire at Cuba oil facility spreads as 3rd tank ignites

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HAVANA (AP) — A deadly fire that began at a large oil storage facility in western Cuba spread Monday after flames enveloped a third tank that firefighters had tried to cool as they struggle to fight the massive blaze. At...
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Builder of Guyana FPSOs now has best delivery time in the world for high-capacity vessels

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Dutch floater specialist SBM Offshore is the only company in the world to deliver floating production storage and offloading (FPSO) vessels with capacity above 120,000 barrels per day, on time, in the last five years. The company’s world-class performance is...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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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