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Norwegian company gets US$11.7 million contract from Petrobras for offshore survey in Brazil

OilNOW -
Norwegian company, Electromagnetic Geoservices ASA (EMGS), has announced a contract award from Petrobras for a fully pre-funded multi-client survey offshore Brazil. The contract, valued at approximately US$11.7 million, is significant for EMGS as it is the first data acquisition...
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China’s CNOOC makes it clear Guyana assets not in any “disputed” area

OilNOW -
Zhou Xinhua, President and Chief Executive Officer (CEO) of CNOOC, said its developments in Guyana are not in any “disputed” area.  The top official of the 25% Stabroek block stakeholder responded to a question about Guyana’s border controversy with Venezuela...
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NV Havenbeheer Suriname invites proposals for port exploitation in Paramaribo

OilNOW -
NV Havenbeheer Suriname, the Suriname Port Management Company, has issued a request for proposals (RFP) for the exploitation of available land and port facilities in the Dr. Jules Sedney Port of Paramaribo, Suriname. It said that the objective of the...
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Exxon registers 18% hike in Guyana, Permian production, despite 54% drop in annual net profit

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ExxonMobil (XOM), the U.S. mega major, disclosed a 54% decline in its annual net profit, reporting US$36 billion for 2023. Despite maintaining oil and gas production levels consistent with 2022, upstream oil and gas price realizations contributed to the...
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Liza field will go offline later this year for hook up of gas pipeline – Exxon

Shikema Dey -
Downtime for ExxonMobil’s Liza field is expected in the second half of 2024, said Chief Financial Officer (CFO) Kathy Mikells, to facilitate Guyana’s Gas-to-Energy (GtE) project.  “At some point in the second half, we are working on the Gas-to-Energy project...
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Hess reports 17% dip in net income in Q423

OilNOW -
Hess Corporation recorded a decline in net income for the fourth quarter of 2023. The net income stood at US$413 million, or $1.34 per share, a 17% decrease from US$497 million, or $1.61 per share, in the fourth quarter...
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Jagdeo not surprised Venezuela violated Barbados agreement

Shikema Dey -
Guyana’s Vice President, Bharrat Jagdeo, is not surprised that the Nicolas Maduro regime has violated the Barbados agreement, which outlines requirements for free and fair elections in the South American country. After all, Maduro does not accept the sanctity...
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Despite anti-fossil fuel push, Jagdeo ‘strongly’ expects U.S. to grant Guyana loan for gas project

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In the face of environmental activism, Guyana's Vice President Bharrat Jagdeo remains 'strongly' optimistic about securing a US$660 million loan from the United States EXIM Bank for the country's Gas-to-Energy project. This project aims to transform Guyana's energy sector...
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Sale of two December cargoes to add US$149 million to Guyana oil fund in Q124

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Following earnings of US$1.617 billion in 2023, the Bank of Guyana said it expects Guyana’s oil fund (the Natural Resource Fund) to receive payments for two lifts of oil produced in December. The lifts, each approximately a million barrels of...
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Petrobras completes Pitu Oeste well drilling, identifies hydrocarbons in Potiguar basin

OilNOW -
Brazil's Petrobras announced the successful completion of drilling at the Pitu Oeste exploratory well in the Potiguar basin, located in the Equatorial Margin. It is one of five promising offshore regions that Petrobras aims to investigate as part of...
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Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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