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As Guyana’s budget expands by almost half, oil will fund 29%

Kemol King -
Guyana's 2024 national budget, set at a new high of US$5.496 billion (GY$1.146 trillion), reflects a 47% increase compared to the 2023 budget of US$3.75 billion (GY$781.9 billion). This expansion is being partially fueled by the nation's increasing oil...
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QatarEnergy in new 15-year deal to supply LNG to Bangladesh

OilNOW -
QatarEnergy and Excelerate Energy (Excelerate) signed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) for the supply of LNG from Qatar to Bangladesh.  Under the SPA, Excelerate will purchase up to one million tons per annum (MTPA)...
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Guyana to invite bids this year for monitoring Exxon’s oil production – Jagdeo 

OilNOW -
The Guyana government is expected to invite bids this year for the monitoring of daily oil production data from ExxonMobil’s Stabroek block projects.  Vice President Bharrat Jagdeo, during his Jan. 25 press conference, told reporters that funds were allocated for...
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Young says Trinidad targeting deepwater bid round this year 

OilNOW -
Trinidad’s Minister of Energy and Energy Industries, Stuart Young, announced that the country is expected to launch a deepwater bid round this year to shore up its gas resources.  “We are committed to sustaining production through investment in our hydrocarbon...
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Halliburton invites EOIs for spill containment services at Guyana mud plant 

OilNOW -
Oil service company, Halliburton Guyana Inc., has invited expressions of interest (EOIs) for spill containment services.  In a public notice, Halliburton said the scope of work covers on-call services for emergency actions in the event of a spill at its...
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Exxon launches countrywide “Big Red Bus Tour” with GY$10M in giveaways

OilNOW -
ExxonMobil Guyana on Saturday, January 27, launched “The Big Red Bus Tour” aimed at boosting community engagement. Part of it was a GY$10 million giveaway competition, with an MG car as the grand prize. Local artistes, Poonam Singh, Jackie Jaxx...
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ExxonMobil files lawsuit to block push by investors for stricter emissions targets, says agenda ‘extreme’

OilNOW -
Exxon Mobil Corp. has taken an unprecedented legal step to thwart a shareholder vote on more stringent emissions targets set for its May meeting.  Filing a lawsuit in a Texas court, the oil giant is challenging a proposal by investors,...
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Petrobras cops OTC distinguished achievement award for deepwater innovations

OilNOW -
The Offshore Technology Conference (OTC) has bestowed Petrobras with the distinguished achievement award for companies, organizations, and institutions, recognizing the company's advancements in the revitalization of the Marlim Field and the broader deepwater Campos basin.  OTC said the accolade underscores...
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Guyana oil production peaked at 589,000 b/d in December 2023 

Kemol King -
The Stabroek block in Guyana produced 589,000 barrels on December 26, 2023 from three projects - Liza 1 (155,000 barrels), Liza 2 (253,000 barrels), and Payara (181,000 barrels).  This marks the highest total production from the Stabroek block, thanks to...
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Guyana publishes final model contracts for new licensees 

OilNOW -
Guyana’s Ministry of Natural Resources published the final model contracts to be awarded to winners of its first offshore licensing, on Jan. 26.  The contracts are expected to be applied to eight blocks - two deep water and five shallow...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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