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With focus on Guyana, Frontera increases full-year CAPEX guidance to US$495M

OilNOW -
Consistent with its increased working interest in the Corentyne block in Guyana, as previously announced on July 22, 2022, and reflective of the spending commitment at the upcoming Wei-1 exploration well, Frontera Energy Corporation has increased its total capital...
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Petrobras shifting focus to deepwater assets, selling off shares in shallow & onshore clusters

OilNOW -
Brazil’s state-owned Petrobras has finalised the sale of all its stakes in the Fazenda Belém and Icapuí onshore fields – also called the Fazenda Belém Cluster – to 3R Fazenda Belém S.A., an oil and gas company with focus...
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With resources topping 17 billion boe, Guyana-Suriname Basin boosting Noble earnings

OilNOW -
Contract drilling services revenue earned by Noble Corporation for the second quarter of 2022 totalled US$262 million compared to $195 million in the first quarter, it reported Monday. Noble said marketed fleet utilisation was 85% in the three months ended...
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US$1.8M IDB loan to push involvement of private sector in Gas-to-Energy project, other major initiatives

OilNOW -
The Ministry of Finance is in receipt of a US$1.8M loan from the Inter-American Development Bank (IDB), a portion of which will be used to push the involvement of the private sector in major projects such as the Gas-to-Energy...
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Business group in Guyana calls for removal of visa requirement to UK, as direct flights set to resume

OilNOW -
A key representative of businesses in Guyana - the Georgetown Chamber of Commerce and Industry (GCCI) - will be lobbying for the removal of the United Kingdom (UK) visa requirement as British Airways is set to resume direct flights...
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Frontera snags a modest US$13.5M net income in 2022 second quarter

OilNOW -
Frontera Energy Corporation disclosed on Wednesday morning that it recorded a net income or profit of US$13.5 million or US$0.14 per share in the second quarter of 2022. This is a significant drop when compared with a net income...
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World’s fastest-growing economy moves to slash transportation costs, travel time with US$115M IDB loan

OilNOW -
Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the quality, accessibility, resilience, and safety conditions of transportation networks, thereby improving travel time. The project-specific objectives are to reduce the Golden...
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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

OilNOW -
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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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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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