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TOTALTEC launches multi-sector E-Learning platform

OilNOW -
TOTALTEC Inc., a 100% Guyanese-owned company, has unveiled a new multi-sector e-learning platform aimed at equipping Guyanese workers with internationally accredited skills. The initiative targets key industries crucial to the country’s economic growth, including hospitality, construction, oil and gas,...
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Guyana among key threats to OPEC’s dominance, says IEA

OilNOW -
Guyana is emerging as a significant threat to OPEC's dominance, according to the International Energy Agency's (IEA) 2024 World Energy Outlook, released on October 16. The IEA predicts that OPEC’s market share will drop from its current 34% to...
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ADC Energy secures multi-year rig inspection contract for TotalEnergies’ Suriname project

OilNOW -
Aberdeen-based ADC Energy has been awarded a multi-year contract to assist with the selection and acceptance of up to three offshore drilling rigs for TotalEnergies’ GranMorgu development in Suriname’s Block 58. This project follows a final investment decision (FID)...
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Guyana, Brazil lead FPSO market growth, investment rises to US$9 billion – Norway firm 

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According to Norway-based Rystad Energy, the Floating Production Storage and Offloading (FPSO) market saw a 50% increase in investments in 2023, rising from US$6 billion to US$9 billion in greenfield surface capital expenditure. This upward momentum is expected to...
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Fast-growing oil production off Guyana coast reshaping energy markets – U.S. State Dept. official 

OilNOW -
San Diego, California: Guyana’s growing crude oil output is quickly reshaping energy markets, and the United States is taking note. This is according to Laura Lochman, Principal Deputy Assistant Secretary, Bureau of Energy Resources, U.S. Department of State. Speaking...
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218,000 bpd crude loadings from Guyana adding to global surge

OilNOW -
Guyana's oil exports have seen significant growth this year, reaching 598,000 barrels per day (b/d), a 58% increase compared to the previous year, according to data pulled by the Baltic and International Maritime Council (BIMCO). Niels Rasmussen, Chief Shipping...
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Guyanese group hired to audit Stabroek Block expenses for 2021-2023 period

OilNOW -
A Guyanese group, VHE Consulting, was hired to audit Stabroek Block expenses for the period 2021-2023, Guyana’s National Procurement and Tender Administration Board (NPTAB) said.  The Ministry of Natural Resources awarded the US$1.5 million (GY$312.6 million) contract on October 10...
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Four out of six bidders accept new Guyana PSA terms – Ministry 

Shikema Dey -
Four of the bidders in Guyana’s maiden offshore auction have accepted the terms of its new production sharing agreement (PSA), the Ministry of Natural Resources announced on Wednesday.  The auction, executed last year, saw the S3 and D2 Blocks awarded...
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Exxon continuing geotechnical survey operations at Stabroek Block

OilNOW -
ExxonMobil Guyana Limited (EMGL) is set to continue geotechnical survey operations at the Stabroek Block offshore Guyana.  According to a notice from Guyana’s Maritime Administration Department (MARAD), the survey, which will use the vessels SV Fugro Explorer and SV Fugro...
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IEA warns of OPEC’s struggles amid declining market share, rising non-OPEC production

OilNOW -
The International Energy Agency (IEA) forecasts that OPEC's market share could drop to eight million barrels per day (b/d) below its combined output capacity by 2030. The Paris-based organisation which largely represents western oil-consuming economies, suggests that OPEC faces...
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Linden-Mabura road to soon link South America’s oil giants, boost trade and integration

Guyana’s Linden to Mabura Hill road project will be spotlighted at the Caribbean-Brazil Summit on June 13 in Brasilia....

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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