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TechnipFMC Q2 earnings surge on Whiptail contract boost

OilNOW -
TechnipFMC reported a significant earnings boost in the second quarter, driven by strong operational performance and key project awards, including the Whiptail project in Guyana. The company’s total revenue reached US$2,325.6 million, with net income at US$186.5 million, or...
News

Guyana government not inclined to extend CGX’s license – Jagdeo

Kemol King -
Guyana's Vice President Bharrat Jagdeo said Thursday that the government is not inclined to grant an extension sought by CGX Energy for its Corentyne Block license. “ went to the Cabinet today. There were discussions. The Cabinet is not...
Guyana's Oil Ledger

Payara soars, boosting Guyana’s oil production outlook 

Kemol King -
Oil production at ExxonMobil’s Payara development has been optimized in record time, delivering oil output in excess of 250,000 barrels per day (b/d) in its eighth month of production. Payara, which achieved first oil in November 2023, first reached its...
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Venezuela signs 20-year gas deal with BP and NGC for Cocuina field

OilNOW -
According to the Energy Chamber of Trinidad and Tobago, Venezuela has signed a 20-year natural gas production and exploration agreement with BP and The National Gas Company of Trinidad and Tobago Limited (NGC) for the Cocuina gas field. The...
News

As Venezuela election draws near, analyst says chances of Guyana invasion slim 

Shikema Dey -
July 28 is the day millions of Venezuelans will decide who their next president will be.  Perhaps it will be another term for Nicolas Maduro. Or maybe change will come with a win for Opposition candidate Edmundo Gonzalez. From Opposition...
News

Halliburton seeks contractors for wastewater treatment plant in Guyana

OilNOW -
Halliburton Guyana Inc. has issued an Expression of Interest (EOI) for the construction of a wastewater treatment plant. This global energy service provider, established in 1919, is seeking contractors for a comprehensive project to enhance its operations in Guyana. Halliburton...
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Over US$800 million in oil revenue plugged into Guyana’s development agenda so far this year

OilNOW -
The Government of Guyana has withdrawn US$850 million from its Natural Resource Fund (NRF) so far for 2024 to support its development agenda for the South American country. This is equivalent to approximately GY$177 billion. The NRF holds Guyana’s...
News

First pipe for Uaru development delivered to VEHSI base – Exxon official 

OilNOW -
Exxon’s fifth Guyana development - Uaru - continues to progress with the first pipe being delivered to the Vreed-en-Hoop Shore Base (VEHSI).  ExxonMobil Guyana’s Global Projects Cost Engineering Manager, Rebecca Cvikota shared this detail during the first round of public...
News

Can Guyana’s economic boom reverse record migration? Only time will tell

Shikema Dey -
Oil, the earth’s black gold, lies deep beneath waters in Guyana’s exclusive economic zone and has been propelling the South American country to new heights. Opportunities are boundless but a major problem exists - labor. And Guyana needs lots...
News

Offshore O&G sector poised for US$35 billion EPC surge this year 

OilNOW -
Westwood Global Energy Group forecasts an additional US$35 billion in offshore oil and gas (O&G) related engineering, procurement, and construction (EPC) spending for the remainder of 2024. This will be driven by approximately 125 subsea tree unit awards, 2,230...
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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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