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Guyana oil fund got US$604 million in Q1 2024

OilNOW -
In the first quarter of 2024, inflows into Guyana's Natural Resource Fund (NRF) have been substantial, at US$604 million (approx. GY$126 billion), according to a gazetted notice from the government of Guyana.  The contributions to the NRF are detailed as...
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Georgetown Chamber’s re-elected President promises enhanced support for SMEs

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The Georgetown Chamber of Commerce and Industry (GCCI), with the re-elected leadership of President Kester Hutson, has pledged to escalate its support for Small and Medium Enterprises (SMEs) in the upcoming year. Hutson first took up the post in 2023...
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U.S. faces dilemma as deadline for Venezuelan sanctions nears – Rystad Energy

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In anticipation of the looming deadline for U.S. sanctions relief on Venezuela's crude industry, Rystad Energy has presented insights into the future trajectory of the nation's oil output, with Senior Vice President Jorge León offering a comprehensive analysis. With the...
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TGS, PGS, and SLB commence multi-client seismic project in Malaysia’s Penyu Basin

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Energy data and intelligence provider TGS, in collaboration with consortium partners PGS and SLB, has initiated a significant multi-client 3D seismic project in the Penyu Basin, offshore Peninsular Malaysia. In partnership with PETRONAS and Malaysia Petroleum Management (MPM), the custodian...
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Guyana puts international community on notice as Venezuela continues to push for Essequibo region

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The Guyana government has vehemently condemned the recent action taken by Venezuelan President Nicolas Maduro to sign the “Organic Law for the Defense of Guayana Esequiba” on April 3, 2024.  Announcing the signing on X, Maduro said, “Sooner rather than...
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MODEC hires Oslo-based company to supply compressed air system for Guyana FPSO

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Oslo-based TMC Compressors (TMC) said it has been awarded a contract to supply a large capacity marine compressed air system to MODEC’s Errea Wittu floating production, storage and offloading (FPSO) vessel.  MODEC is building the floater for an ExxonMobil-operated development...
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SLB to acquire ChampionX 

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SLB and ChampionX Corporation have entered a definitive agreement for SLB to purchase ChampionX in an all-stock transaction, SLB said in a release. The agreement was unanimously approved by the ChampionX board of directors. Under the terms of the agreement,...
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PETRONAS extends drillship contract for additional well in Suriname’s Block 52

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PETRONAS Suriname E&P B.V. has opted to extend the contract for the 7th generation drillship Noble Voyager to drill an additional well in Block 52 offshore Suriname, Noble Corporation said in a LinkedIn post.  The contract, valued at a day...
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Direct flights now connect America’s oil capital to Georgetown

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United Airlines inaugurated its nonstop flight from Houston to Georgetown, Guyana, operated by a Boeing 737-MAX 8, the Cheddi Jagan International Airport (CJIA) said in an April 1 release.  The new service, which runs four times a week, will give...
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Ali meets with power companies as frequent blackouts plague Guyana 

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The commissioning of Guyana’s Gas-to-Energy project is a year away - too for consumers as skyrocketing demand is contributing to chronic power instability. Guyana's President Irfaan Ali convened an urgent meeting with the Board of Directors and management of...
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