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Trinidad’s largest natural gas producer to divest three fields

OilNOW -
BP is expected to close a deal to sell some Trinidad and Tobago upstream assets to Perenco, Reuters learned from people familiar with the talks.  The divestment of the Amherstia, Cashima and Immortelle fields would reduce BP’s Trinidad gas output...
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PGS secures major 3D seismic contract offshore South Atlantic margin

OilNOW -
Marine seismic data company PGS has been awarded a contract for a large 3D project offshore the South Atlantic margin by a multiclient company.  The contract falls within PGS' criteria for announcing contract awards of over US$10 million, but its...
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Venezuela submits counter-memorial to ICJ in Essequibo case

OilNOW -
Venezuela has made a submission to the International Court of Justice (ICJ) in its border case with Guyana. The submission is its counter-memorial on the merits of the case concerning the Arbitral Award of 3 October 1899 (Guyana v....
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‘We’re not going to let our guards down’ on Venezuela – says Guyana VP

OilNOW -
Guyana remains steadfast in its vigilance as Venezuela persists in its aggressive stance, asserting claims to two-thirds of Guyanese territory, particularly the Essequibo region, following a recent referendum. Bharrat Jagdeo, Vice President, reiterated this commitment during a press conference...
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Blue Water to handle transport of topsides for Angola-bound FPSO

OilNOW -
Blue Water said it has successfully secured a substantial logistics contract with Yinson Production (YP), an independent owner and operator of floating production, storage and offloading vessels (FPSO) worldwide. Blue Water's Floating Productions Systems (FPS) project team will oversee...
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Shell projects US$1.9 billion EBITDA for Q1 2024

OilNOW -
Shell has released projections for its first-quarter 2024, indicating an expected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$1.9 billion. The figures, however, are subject to change pending finalization and are set to be officially disclosed...
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Guyana’s shore base capacity: Eight projects approved over four years 

Shikema Dey -
Growing offshore activity has seen Guyana’s shore base capacity expand considerably since 2020. The Ministry of Public Works told OilNOW approval was given for eight projects over this period.  Among the greenlit projects was the expansion works at the Guyana...
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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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Exxon forecasts drop in Q1 operating results

OilNOW -
Exxon Mobil (XOM.N) anticipates a decline in its first-quarter operating results. The company said this will be due to weakened oil and gas prices, along with significant losses in fuel derivatives, as indicated by a securities filing on Wednesday. The...
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U.S. Senator Rick Scott demands Biden reimpose sanctions against Maduro regime

OilNOW -
U.S. Senator Rick Scott has issued a stern demand for immediate action from President Joe Biden to reimpose sanctions on Venezuelan President Nicolás Maduro. In an April 4. statement, Senator Scott expressed strong condemnation, accusing President Biden and his administration...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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