News

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported net income of US$498 million, or US$1.62 per share, with adjusted earnings up to US$660 million, largely due to heightened...

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output from projects like the Payara development in Guyana.  CNOOC’s total net production in the first three quarters reached 542.1 million barrels...

Suriname's anticipated oil boom could transform the country’s future, but good governance will be key, Staatsolie Managing Director Annand Jagesar cautioned in a recent interview with Dagblad De West. He highlighted that while oil revenues may begin to flow...

Guyana’s maritime sector is poised for exponential growth alongside its burgeoning oil and gas industry, with a new generation of marine professionals stepping up to the challenge. Addressing the latest Marine Cadet Programme graduates from the MATPAL Marine Institute...

Excel Guyana Inc. is expanding its workforce solutions to bridge critical skills gaps in Guyana’s oil and gas industry, preparing to launch a new manpower and crew management division tailored to the sector’s onshore and offshore needs. With demand...

At the recent Local Content Forum, Komal Singh, Chairman of the Private Sector Commission (PSC) of Guyana, highlighted the importance of ISO certification for local companies aiming to thrive in the nation’s expanding oil and gas sector. Singh emphasized...

TechnipFMC reported third-quarter 2024 revenues of US$2,348.4 million, with a net income of US$274.6 million, or US$0.63 per diluted share. Adjusted net income, which accounts for after-tax charges, was US$280.5 million, or US$0.64 per share. Key factors impacting adjusted...

Baker Hughes reported stronger-than-expected third-quarter profits, boosted by sustained international demand for its drilling equipment and oilfield technology. The company’s adjusted profit reached US$67 per share, surpassing Wall Street’s forecast of US$61.  Chief Executive Officer Lorenzo Simonelli expressed optimism, stating,...

SBM Offshore's Chief Executive Officer, Øivind Tangen confirmed that the upcoming Jaguar floating production storage and offloading vessel (FPSO) will be executed with the same team and expertise that handled the Liza Unity FPSO.  “We inherently bring all the learnings...

Guyana is set to witness the startup of its fourth oil development, Yellowtail—one of the largest investments ever made in the country. Priced at US$10 billion, this project is spearheaded by ExxonMobil and its Stabroek Block partners Hess and...