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SBM Offshore announces departure of Chabas, names successor

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Dutch floater specialist SBM Offshore announced on Wednesday the departure of its Chief Executive Officer (CEO) and Chair of the Management Board, Bruno Chabas, who has held the portfolio for 12 years. The company said Chabas decided not to...
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Competitive fiscal terms key to Guyana offshore growth; Suriname now being asked to provide more incentives  

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Head of Malaysia’s Petronas, Zamri Baseri, is quoted by Reuters as saying the company needs to speak to Staatsolie - Suriname's state oil company - about the commercial models that can be used to make a project at block...
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Guyana-Venezuela ‘joint commission of foreign ministers’ for meeting today in Brazil

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Guyana’s Minister of Foreign Affairs and International Cooperation, Hugh Todd, is leading a team to Brazil today to meet with his Venezuelan counterpart Yván Gil. The meeting is taking place within the framework of the Argyle Declaration in which...
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Schlumberger reports record year for Middle East operations with US$33 billion in revenue 

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Oilfield services giant Schlumberger (SLB) has achieved a net profit of US$4.2 billion in 2023, marking a 22% increase and establishing a record year for its Middle East operations in terms of revenue. The company posted a total revenue...
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Guyana-Suriname basin to add almost one million barrels per day to global oil supply

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The Guyana-Suriname basin is projected to add 950,000 barrels of oil per day (b/d) to market supply, with four projects to come on stream in the period 2025-2028. One floating production, storage and offloading (FPSO) vessel will start operations...
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CGG signs agreement with T&T for reimaging of deepwater seismic data

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France-based marine seismic data company CGG has agreed with the Ministry of Energy and Energy Industries of Trinidad and Tobago to reimage vintage 3D seismic data from four deepwater offshore blocks.  The project, covering blocks 25a, 25b, 26, and 27...
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Halliburton’s Q4 income comes in at US$661 million 

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Multinational oilfield services company Halliburton has reported a fourth-quarter income of US$661 million, or $0.74 per diluted share, for 2023. The company witnessed a robust demand for oilfield services and equipment, particularly in international markets. Halliburton's international revenue recorded...
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Stabroek block exploration holds potential surprises following Chevron’s ‘strategic move’ in Guyana – WoodMac 

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Consultancy Group Wood Mackenzie said that the exploration landscape in Guyana’s Stabroek block is poised for unexpected and positive results, following Chevron’s acquisition of Hess.  “After Chevron´s strategic move in Guyana, exploration in Stabroek block can still surprise with good...
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Guyana forging ahead with renewable energy as bids open for hydropower transmission set-up

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Guyana's National Procurement and Tender Administration Board opened bids for the design, supply, installation, testing, and commissioning of 16.84 kilometers (km) of 13.8-kilovolt (kv) transmission lines and communication infrastructure, on Jan. 11. This project is critical for connecting the...
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Trinidad’s NGC, Shell, PDVSA kickstart pipeline talks for Dragon gas project – Young 

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Trinidad and Tobago’s next step to access the Dragon gas field has begun, according to its Minister of Energy and Energy Industries, Stuart Young. Speaking during the Trinidad and Tobago Energy Conference 2024 in Port-of-Spain on Jan. 22, Young reported...
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Exxon executive affirms stability in Guyana outlook regardless of arbitration outcome

ExxonMobil’s Senior Vice President Neil Chapman said Thursday that operations and investment plans in Guyana remain “100% aligned” among...

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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