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Liza Unity FPSO has scope to produce 270,000 barrels a day – Exxon 

Shikema Dey -
Debottlenecking efforts at the Liza Unity floating production, storage and offloading (FPSO) vessel could boost its output to 270,000 barrels per day (b/d).  ExxonMobil Guyana President, Alistair Routledge, said the vessel underwent debottlenecking in July during a shutdown of the...
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Exxon’s Hammerhead project to feature first converted unit offshore Guyana since Liza Destiny

Shikema Dey -
Hammerhead, Guyana’s 7th Stabroek Block development will be utilizing a converted unit for its floating, production, storage and offloading vessel (FPSO). This is according to ExxonMobil Guyana President, Alistair Routledge.  Hammerhead would be the first project after Liza Phase 1...
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Sispro says regulatory compliance a challenge in securing award of S3, D2 offshore blocks 

OilNOW -
In Guyana’s inaugural offshore licensing round, Sispro Inc. stood out as the only Guyanese company among the bidders.  They were eventually awarded two blocks S3 and D2 when the auction closed. But to date, it has not been finalised. Its Chairwoman...
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UBSL launches new breakbulk shipping line for Caribbean & South America

OilNOW -
Universal Africa Lines B.V. (UBSL) is expanding its operations by launching a new breakbulk shipping line for the Caribbean and East Coast of South America.  This venture, UBSL Caribbean Line, is a joint effort between BOCS Bremen and Universal Africa...
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PETRONAS launches seismic survey in Suriname’s Offshore blocks 63 and 52

OilNOW -
PETRONAS Suriname E&P B.V. (PSEPBV), a subsidiary of the Malaysian energy giant, has announced plans to conduct a 3D seismic acquisition across Offshore Block 63 and the Ironman Prospect in Block 63/52, Suriname. This follows the signing of the...
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Guyana seeks consultant to review Exxon’s Hammerhead proposal

OilNOW -
The Guyana government is seeking a consultant to review and evaluate ExxonMobil's proposed Hammerhead oil development, its seventh offshore project.  A request for expressions of interest, issued through the Ministry of Natural Resources, aims to secure consulting services with part...
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Capital One lowers Hess’ Q3 2024 earnings forecast

OilNOW -
Capital One Financial has revised its Q3 2024 earnings forecast for Hess Corporation, lowering its estimate from US$2.45 per share to US$1.80. This adjustment was shared in a report to investors on October 3rd.  Analyst P. Johnston also provided updated...
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Rystad Energy reports rising oil project costs amid inflation and supply chain disruptions

OilNOW -
Rystad Energy has reported a continued rise in the cost of developing new upstream oil projects, driven by inflation and supply chain issues. The latest research shows that the average breakeven cost for non-OPEC oil projects has climbed to...
News

“Bluffing didn’t work” – Seeking Alpha Analyst on CGX, Frontera losing Guyana’s Corentyne Block 

OilNOW -
Guyana has taken control of the Corentyne Block from Frontera Energy and its partner, CGX Resources. This move follows a series of unmet contract obligations. Frontera and CGX had been working on this block for some time, with CGX...
News

Guyana and Brazil drive US$189 billion offshore investment surge

OilNOW -
Guyana and Brazil are leading a massive investment wave in South America’s offshore oil sector, accounting for a significant portion of the region’s US$189 billion in conventional greenfield capital expenditure between 2020 and 2030, according to Rystad Energy.  Rystad said...
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Americas oil outlook revised down, but Guyana’s offshore boom remains a bright spot 

Production across the Americas is forecast to reach 63 million barrels of oil equivalent per day (mmboe/d) by 2031,...

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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