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Petrobras reports second quarter loss amid expansion in oil production capabilities

OilNOW -
Petrobras reported a net loss of R$ 2.6 billion in the second quarter of 2024, driven by one-off events and significant currency fluctuations. The company's decision to settle legal disputes related to vessel and platform charters in June 2024...
Stories Beyond the Barrel

Sure Gig CEO Filisha Duke on navigating Guyana’s oil boom, training, and building a legacy

OilNOW -
Filisha Duke, Chief Executive Officer and Founder of Sure Gig Inc., established the company in 2016 to create a legacy that would outlive her while providing meaningful opportunities for others. “From a tender age, it was always my dream...
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Suriname to come up with US$1.8 billion for stake in Block 58 project

Shikema Dey -
Suriname’s state oil company Staatsolie is set to plug US$1.8 billion in the nation’s first offshore oil project, according to the company’s 2023 annual report.  Staatsolie could participate with up to 20% stake in the Block 58 field development. Its...
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ONE GUYANA FPSO 75% complete, topsides modules successfully installed – SBM Offshore 

OilNOW -
Construction of the ONE GUYANA floating, production, storage and offloading vessel (FPSO) is about 75% complete, according to new updates from SBM Offshore.  The company, in its Half Year report for 2024, said the topside modules lifting campaign has been...
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Guyana’s oil boom fuels 64% surge in foreign direct investment

OilNOW -
Guyana has reported a 64% increase in foreign direct investment (FDI) for 2023, showcasing the nation’s rising influence on the global energy stage. The 2024 edition of the Economic Commission for Latin America and the Caribbean (ECLAC) “Foreign Direct Investment...
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Exxon throws “full support” behind Guyana Amazon Warriors with new “Is We Own Again” promo 

OilNOW -
ExxonMobil Guyana today announced the launch of its “Is We Own Again” promotion in collaboration with the Guyana Amazon Warriors. The promo runs from August 10 to September 27, 2024, the company said in a statement.  “Supporting sport and national...
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Guyana projects help boost SBM Offshore half-year earnings as 8th hull reserved for Suriname

OilNOW -
SBM Offshore posted strong financial performance in the first half of 2024, with directional revenue increasing to US$1,840 million - a 23% increase compared to the same period last year. Directional Turnkey revenue rose to US$662 million compared to US$558...
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Model for Guyana’s first Smart City complete – President Ali

OilNOW -
The model is now completed for Silica City, Guyana’s first smart and sustainable city project. This is according to President of the new oil producing South American country, Dr. Mohamed Irfaan Ali. “We are well on the journey of delivering...
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MODEC launches internship, trainee programs for aspiring oil and gas professionals

OilNOW -
MODEC is offering two exclusive opportunities for final-year students, recent graduates, and young professionals eager to break into Guyana’s oil and gas industry. For final-year students, MODEC presents a 1-year paid internship program.  It said this opportunity allows three interns to...
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Petronas considering gas development following success at Sloanea-2 appraisal well offshore Suriname 

OilNOW -
PETRONAS said it achieved success with the drilling of the Sloanea-2 appraisal well at Block 52 offshore Suriname. The company said Sloanea-2 was spudded in the second quarter with the Noble Voyager. It is an appraisal of the Sloanea-1 gas...
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Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

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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