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GAICO building fertilizer blending plant, second wharf ahead of Gas-to-Energy start-up

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GAICO Construction and General Services Inc. is building a fertilizer blending plant and a second wharf on the West Bank of Demerara. The combined investment cost is estimated to exceed US$10 million, GAICO’s Chief Executive Officer, Komal Singh told...
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Noble Sam Croft undertaking development drilling at Exxon’s Whiptail well site 

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Development drilling at ExxonMobil’s Whiptail well site in the Stabroek Block continues with the Noble Sam Croft, according to a public notice by the Guyana Maritime Administration Department (MARAD).  Activities are expected to conclude on August 31 at the site,...
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Global economic growth steady but mixed, says IMF

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The International Monetary Fund (IMF) has released its latest global economic forecast, projecting stable growth rates of 3.2% in 2024 and 3.3% in 2025. “The forecast for global economic growth is broadly unchanged from that in April,” the IMF...
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Hammerhead will be stand-alone development – Exxon project summary 

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ExxonMobil’s Hammerhead development will be a “stand alone” project, according to the summary submitted to Guyana’s Environmental Protection Agency (EPA).  Potentially, additional resources can be tapped, if determined to be feasible and economically viable, the document read.  The proposed project will...
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Saipem secures US$500 Million in offshore Saudi Arabia contracts from Aramco

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Saipem has secured two contracts from Aramco worth a total of US$500 million, the Italian company announced on Monday.  The first project involves the engineering, procurement, construction, and installation (EPCI) of a 42-inch crude trunkline, approximately 50 kilometers long, for...
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Eco (Atlantic) plans Guyana drill campaign for 2025

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Eco (Atlantic) Oil & Gas plans to drill one exploration well at the Orinduik Block offshore Guyana in the first half of 2025.  The company said in a July presentation that it is focused on multi-million barrel stacked pay targets...
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Future oil growth likely centered in Guyana-Suriname, GlobalData finds

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The oil and gas industry has long underpinned the global economy, with demand growing steadily except during the COVID-19 pandemic. New discoveries and massive oilfield reserves sustain global production, essential for meeting this demand. In May 2024, GlobalData conducted...
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EPA begins review process for Exxon’s Hammerhead project

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Guyana’s Environmental Protection Agency (EPA) has formally notified the public of ExxonMobil’s application for a seventh oil development at the Stabroek Block.  The regulator has determined that the proposed Hammerhead will require the compilation of an Environmental Impact Assessment (EIA)...
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Guyana government, Exxon at odds over issue of attorney ‘conflict of interest’ 

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Guyana’s Vice President Bharrat Jagdeo is maintaining that the newly elected Leader of political party, the Alliance for Change (AFC), has a conflict of interest due to his relationship with ExxonMobil, operator of the Stabroek Block. Nigel Hughes, the AFC...
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NOCs adapting to future energy demands – Rystad Energy 

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Schreiner Parker, Managing Director for Latin America at Rystad Energy, believes that the global oil and gas industry faces significant external pressure to adapt to future realities. Despite this, he asserts that oil and gas companies, including national oil...
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MODEC, Carbon Clean sign MoU to advance FPSO-based carbon capture

MODEC Inc. and Carbon Clean Solutions Ltd. have signed a memorandum of understanding (MOU) to accelerate the development and...

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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