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Tullow nets US$777 million in H1 2023 revenues

OilNOW -
Tullow Oil has released its half-year results for 2023, revealing revenue amounting to US$777 million, a gross profit of US$351 million, and a profit after tax of US$70 million. The company said the highlight of the period was its successful...
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Shell initiates environmental clearance process for Manatee project in TT 

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Shell has officially commenced the process of seeking environmental clearance for the highly anticipated Manatee project in Trinidad & Tobago.  The application for a certificate of environmental clearance (CEC) has been submitted to Trinidad & Tobago's Environmental Management Authority (EMA),...
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Staatsolie could secure up to 20% stake in Suriname’s first oil development

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Staatsolie, the state-owned oil company of Suriname, could participate with up to 20% in the development of the inaugural field development within Block 58, the company announced.  The arrangement aligns with the model production sharing contract, wherein the Surinamese state...
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Guyana gov’t says it fully supports revenue authority’s role of auditing oil companies’ bills

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As the Guyana Government edges closer to concluding its inaugural audit of ExxonMobil Guyana Limited's Stabroek Block expenses totalling US$1.7B, a hefty US$214M in disputed costs has been deemed the final sum. This development could push both local authorities...
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Ali, Jagdeo see response to Guyana’s first bid round as favourable, given new fiscal terms

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President of Guyana Dr. Mohamed Irfaan Ali and Vice President Dr. Bharrat Jagdeo say the government is pleased with the interest shown in the country's first offshore licensing round, despite receiving bids for only eight out of the 14...
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Guyana retail landscape full of potential, attracting major brands, says CNN contributor

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Guyana is presenting a golden opportunity for major international brands to tap into its growing retail market. Arick Wierson, a political and business columnist for CNN, Observer, CNBC, and Vice, highlighted this untapped potential in a recent article for...
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Petrobras in final preparatory stage to start production from Sepetiba

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The FPSO Sepetiba, a floating production, storage, and offloading (FPSO) platform, has arrived in Brazil from China. After undergoing necessary legal and technical procedures, the FPSO will be deployed to the Mero field in the Santos basin's Libra section.  This...
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“Very big deal for Guyana to have its own capping stack” –  Exxon Project Manager

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A key provision in ExxonMobil’s permit for the massive Yellowtail project offshore Guyana requires the company to have a capping stack maintained, tested, and stored in country. And this, according to Exxon’s Project Manager, Anthony Jackson, should be considered...
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No hurry for Guyana to become member of global oil cartel

OilNOW -
The oil cartel, Organisation of Petroleum Exporting Countries (OPEC), and South America’s new oil producer, Guyana, do not see eye to eye on production policies and for that reason, the country is not interested in becoming a member.  Its President,...
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US Energy Information Administration sees global oil inventory drop in Q4 after Saudi Arabia’s production cut extension

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In the wake of Saudi Arabia's recent announcement to extend its voluntary one million barrels per day (b/d) production cut through the end of this year, the US Energy Information Administration (EIA) anticipates a reduction in global oil inventories...
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High-tech seismic campaign offshore Guyana to wrap up in December

ExxonMobil Guyana will complete its latest seismic data acquisition campaign in December, marking the end of a months-long effort...

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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