Saturday, May 21, 2022

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TechnipFMC developing pool of local companies to work by its side in Guyana

A major ExxonMobil contractor, TechnipFMC, is gradually building a pool of local companies that can support its work in Guyana, said Area Director for Guyana, Suriname and Trinidad, Nicolas Sicard. “Nowadays, we have a pool of nearly 70 Guyanese-owned companies...

Houston, wider East Bank morphing into major corridor of oil and gas development in Guyana – Bharrat

A new oil and gas corridor is quickly emerging in Guyana on the East Bank of Demerara where several oil field services companies have been setting up operations in recent years. “It seems as though Houston in Guyana is becoming like Houston in Texas;...

T&T eyes preferred bidder for Point-a-Pierre refinery

Trinidad and Tobago has identified another suitable bidder for the sale or lease of the state-owned Point-a-Pierre oil refinery, Prime Minister Dr. Keith Rowley announced on Friday. The refinery was moth-balled back in 2018 following the restricting of Petrotrin, the...

Budding oil powerhouse bent on boosting food security, slashing import bill for 15 countries

New oil producer, Guyana, is placing much emphasis on having a diversified economy and has put agriculture on the front burner as it seeks to boost food security for the Caribbean region. The Caribbean Community (CARICOM) has set out an ambitious target of slashing its food import...

US$60 billion to be invested in Guyana oil and gas sector this decade – Rystad analyst

Rystad Energy’s Latin America analyst, Sofia Forestieri, said the energy research firm expects international oil companies to invest approximately US$60 billion into exploration and production activities, mainly in the Stabroek Block, in the decade 2021-2030. Rystad projected that, of investments...

Better to use gas for Guyana’s benefit than to flare, reinject it – GCCI President

Guyana’s current natural gas reserves total some 16 trillion cubic feet, according to the Vice President, Dr. Bharrat Jagdeo. And that gas can either be used for energy generation or reinjected into Guyana’s offshore wells. The government has a ‘no...

Guyana received over GY$16 billion in royalty payments since 2020

Since becoming an oil producer, Guyana has received GY$16,889,629,390.29 (US$81,005,416.74) in royalty payments. In keeping with the stipulations of the Natural Resource Fund Act 2021, the information was recently presented to the National Assembly after being published in the Official...

US lawmakers blast change in policy towards Venezuela; oil projects could increase

(S&P Global Platts) Details remained scant May 18 on a US policy shift that could chart a path for US companies to again invest in and operate Venezuelan oil projects as the Biden administration has reportedly begun to ease...

Exxon, Equinor looking to expand oil development offshore Brazil

(Reuters) - Equinor SA and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's...

T&T appoints Chair of National Gas Company as High Commissioner to Guyana

Conrad Enill, the current Chairman of Trinidad and Tobago’s National Gas Company (NGC) is now the twin-island Republic’s High Commissioner to Guyana. His appointment comes at a time when Guyana is amassing considerable natural gas reserves in the offshore Stabroek Block, and...

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TechnipFMC developing pool of local companies to work by its side in Guyana

A major ExxonMobil contractor, TechnipFMC, is gradually building a pool of local companies that can support its work in...