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Guyana power generation, demand reaching record highs, stirring call for conservation

OilNOW -
In the wake of rapid economic growth, Guyana is witnessing its highest-ever electricity generation and demand. According to a September 29 notice from Guyana Power and Light Inc. (GPL), the Demerara-Berbice Interconnected System (Guyana’s central grid system) recorded a...
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TechnipFMC secures “significant contract” to supply flexible pipes for Petrobras’ pre-salt fields

OilNOW -
TechnipFMC has announced that it has been awarded a substantial contract to provide flexible pipes to Petrobras for use in the pre-salt fields located offshore Brazil. In TechnipFMC's terms, a "significant" contract typically falls within the range of US$75...
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TotalEnergies to pay part of APA’s CAPEX for Suriname project, in exchange for cost oil – CEO

Kemol King -
TotalEnergies has confirmed its commitment to the massive oil development project in Block 58 off the coast of Suriname, with Chief Executive Officer (CEO) Patrick Pouyanne announcing the company’s plans to shoulder a portion of APA's CAPEX for the...
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Trini trade mission of 31 companies coming to Guyana in October

OilNOW -
The Trinidad and Tobago Manufacturers Association (TTMA) has announced a trade mission to Guyana from October 3 to 7, 2023. The mission, led by TTMA's President, Roger Roach, aims to fortify ties between the two Caribbean Community (CARICOM) nations...
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Fifth withdrawal this year from Guyana’s oil fund takes total to US$650 million 

OilNOW -
Guyana has made its fifth withdrawal from the Natural Resource Fund (NRF) for 2023, the Ministry of Finance announced on Sept. 29.  According to the release, the government withdrew US$50 million (GY$10.4 billion) this month.  Back in August and September, amounts...
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S&P expects first Payara crude cargoes to load in November

OilNOW -
Guyana's emerging Payara Gold crude is on schedule for its first official loading in November. This update is based on a program obtained by S&P Global Commodity Insights. The said program schedules two 1-million-barrel cargoes of Payara to load in...
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QatarEnergy hires Hyundai to build 17 LNG carriers

OilNOW -
Marking the coming expansion of Qatar's LNG export capabilities, QatarEnergy has announced a massive deal with Hyundai Heavy Industries (HHI) of South Korea. Under the agreement, HHI will construct 17 state-of-the-art LNG carriers, with the total transaction being valued...
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Exxon, Hess withdraw from Kaieteur Block offshore Guyana

OilNOW -
ExxonMobil Guyana has indicated that it is withdrawing from the Kaieteur Block. Additionally, Ratio Petroleum Energy Limited has informed the market that Hess is also withdrawing from the block. “ExxonMobil Guyana has exited the Kaieteur block offshore Guyana, with participating...
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Equinor, Ithaca take FID for US$3.8 billion Rosebank development on UK continental shelf

OilNOW -
Equinor and Ithaca Energy have made the final investment decision to move forward with Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS). The investment for this project will total an impressive US$3.8 billion. The North Sea...
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Trinidad Energy Chamber gunning for investment incentives in upcoming TT budget

OilNOW -
In the wake of a series of recent positive developments in the Trinidad & Tobago energy sector, the Energy Chamber of Trinidad and Tobago (ECTT) is keenly awaiting the upcoming national budget set to be announced on Monday, October...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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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