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Six big oil companies to dole out US$7B on exploration in 2023, 14% of total global spend

OilNOW -
Six major oil companies - ExxonMobil, bp, Shell, TotalEnergies, Eni, and Chevron - are poised to play a significant role in global exploration activities this year. According to industry forecasts by Rystad Energy, these major players are expected to...
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Next steps at Baja-1 discovery in Suriname’s Block 53 being assessed for potential development – APA Corp.

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The Baja-1 find in Suriname’s Block 53 is being assessed for development, APA Corporation stated in its Q2 earnings report.  It was the first ever for Block 53, made back in August last year.  Baja-1 was drilled to a depth of...
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South America’s newest oil producer is number four in the world for top basins by well count – Norway group    

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Guyana, the newest oil producer in South America, is emerging as a major player in the global oil and gas industry. The country, with current production of around 400,000 barrels of oil per day, has secured an impressive 4th...
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Despite profit drop, Petrobras records 10th highest quarterly earnings on eve of 70th anniversary

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Petrobras, the Brazilian state-controlled oil giant, announced a significant drop in quarterly profits, with results adversely affected by the depreciation of Brent crude prices and rising operating expenses. The company reported a net profit of 28.8 billion reais (US$5.8...
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Guyana’s VP fires back at critics of Gas-to-Energy project; cites hypocrisy in global fossil fuel pledges

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Despite encountering resistance from some local analysts arguing that the Gas-to-Energy Project could risk anchoring the nation to a fossil fuel-dependent future, rather than a renewable energy trajectory, Guyana's Vice President, Dr. Bharrat Jagdeo, staunchly contends that such an...
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Georgetown Chamber says ‘parasitic’ fronting must be weeded out

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In a recent statement, the Georgetown Chamber of Commerce and Industry (GCCI) expressed serious concerns regarding the burgeoning issue of sham partnerships within the private sector, a trend alarmingly labelled as 'fronting' or 'rent-a-citizen'. Such faux partnerships, according to...
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Guyana Minister slams rent-a-citizen practices hindering local content

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Deodat Indar, one of Guyana’s infrastructure ministers, passionately called upon members of the local private sector to steer clear of engaging in "rent-a-citizen" practices due to its detrimental impact on the government's dedicated efforts to foster local content growth...
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Noble’s Q2 earnings come in at US$606 million

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Noble Corp. announced robust financial results for the second quarter of 2023, showcasing a positive growth trajectory amidst an upswing in market conditions. The company reported contract drilling services revenue of US$606 million for the quarter, representing an increase...
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Europe ranks as top buyer of Guyana’s Liza and Unity Gold crude – S&P Global

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Russia’s invasion of Ukraine foisted Europe to the top as one of the largest buyers of Guyana’s Liza and Unity Gold crude, said S&P Global Commodity Insights' oil pricing and news expert Patrick Harrington.  “Until recently, the bulk of Guyana...
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Guyana private sector urged to cash in on ‘never-ending opportunities’

OilNOW -
"If you not in the business, get in the business" was the advice of Government Minister, Deodat Indar to the 360-member strong Guyana Manufacturing and Services Association (GMSA) as it celebrated 60 years of existence on August 3.  His feature...
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The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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