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Jagdeo expects long battle to lift up blue economy in sustainability talks

OilNOW -
Guyana's Vice President Dr. Bharrat Jagdeo said he expects a battle to get the blue economy recognised on the same level in global climate talks as has been achieved with forests. He explained that many developing countries have been trying...
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Stabroek co-venturer CNOOC looking for onshore caterers

OilNOW -
CNOOC Petroleum Guyana Limited (CPGL) is preparing to tender for onshore catering services (Chinese cuisine) in support of its activities in Guyana. In a notice, CGPL said the bidding process will be twofold: a pre-qualification round (RFI) and a proposal...
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Early statements show Noble earned US$140-150 million in Q4 2022

OilNOW -
Noble Corporation said its earnings for the fourth quarter of 2022 are expected to be between US$140 million and US$150 million. This was revised downward from the previous outlook of US$155 million and US$175 million. The reduction is primarily...
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TT Chamber apologises for map of Stabroek Block overlapping into Venezuela

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The Trinidad and Tobago Energy Chamber has issued an apology after a map displayed during its Energy Conference this week showed a portion of Guyana’s Stabroek Block extending over the Guyana/Venezuela border. The Chamber said the “erroneous” map was developed...
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“Guyana is Jamaica’s economic hinterland” – Investment Minister, as delegation in country to explore opportunities

Shikema Dey -
The best of Jamaican businesses are currently scouting investment opportunities in Guyana, a country their Minister of Industry, Investment and Commerce, Aubyn Hill described as Jamaica's “natural economic hinterland.” Hill is leading the delegation of over 45 private sector companies,...
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First draft of Guyana’s new model PSA expected in February

Shikema Dey -
Come February 2023, Guyana will make public the first draft of its new model Production Sharing Agreement (PSA), said Finance Minister, Dr. Ashni Singh. “We have announced the main elements of a new fiscal framework, which will form the basis...
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GAICO to dredge Berbice channel as work on CGX’s Deep Water Port advances

OilNOW -
Dredging is set to commence in the Berbice river, as CGX Energy through its subsidiary, Grand Canal Industrial Estates, advances construction on the Berbice Deep Water Port. CGX, in an update on January 23, said that in the first quarter...
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Trinidad may need to consider direct proposal arrangement for oil blocks – Rowley

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Prime Minister of Trinidad and Tobago, Dr. Keith Rowley, said the island nation may need to consider a “direct proposal arrangement” for the issuance of oil blocks licenses, to maximise extraction of its petroleum resources. He made the comment...
Discoveries

Shell hits pay at Namibia’s Orange basin

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Shell has hit pay at Namibia’s rising oil star – the Orange basin, according to Upstream Online in a January 23 report that said early signs from its Jonker-1 exploration probe “are promising”. Northern Ocean’s semi-submersible rig Deepsea Bollsta began...
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Exxon’s 5th Guyana project represents ‘bold bet on the oil market’s future’ – The Motley Fool

OilNOW -
US-based private financial and investment company, The Motley Fool, says ExxonMobil’s fifth development project off the coast of Guyana is a clear indication of the major’s confidence in the oil market. The Uaru development, set to deliver first oil in...
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President signs Guyana’s Oil Spill Bill into law

Guyana’s President Irfaan Ali has enacted a comprehensive oil spill law which sets out a national framework for oil...

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