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Liza 2 was second highest producing project in South America in 2022 – GlobalData

OilNOW -
Data analytics and information service, GlobalData, said ExxonMobil’s Liza Phase 2 project offshore Guyana had the second-highest oil and condensate production in South America in 2022. It expects the project to produce until 2043. Below is a chart showing the...
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Dispute resolution crucial to Guyana’s ability to keep attracting investments

OilNOW -
The stay of execution granted by an Appellate Court Judge on a recent High Court order will go down well for Guyana’s global reputation, says Vice President, Dr. Bharrat Jagdeo. The High Court’s order had compelled an ExxonMobil-led consortium...
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Vreed-en-Hoop Port owner aims to eliminate reliance on foreign bases for Guyana operations

OilNOW -
The Vreed-en-Hoop Shore Base (VEHSI) developers aim to create a state-of-the-art oil service facility that can essentially see Guyana relying less on outside help.  Director, Nick Boyer outlined in a recent update that VEHSI will have space for expansion to...
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Judge orders Exxon to lodge US$2B oil spill guarantee, grants stay of execution on previous ruling

Shikema Dey -
Guyana’s Appellate Court on Thursday granted ExxonMobil and its co-venturers a stay to the Supreme Court judgment that required it to provide an unlimited Parent Company Guarantee Agreement/or Affiliate Company Guarantee Agreement.  Failure to comply would have resulted in the...
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Asset Managing Giants hold talks with Guyana on being part of oil development

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Guyana’s remarkable oil developments have attracted the attention of Black Rock, the world’s largest asset manager, along with other American heavyweights like Bank of America. Top officials from these companies, as well as Hess Corporation, Capital Group, MFS Investment...
Exploration

Suriname’s deepwater bid round closed

OilNOW -
Suriname’s Staatsolie has announced the successful closure of its 2022-2023 Demerara Bid Round, where six blocks were up for grabs.  According to Staatsolie, it received qualified bids for three of the blocks offered from several companies and/or consortia.  “We thank all...
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Guyana oil fund closed May with US$1.57 billion

OilNOW -
Guyana’s fifth profit oil lift for the year was sold for GY$18.17 billion (approximately US$87 million). A Bank of Guyana report indicated payment for the sale of this lift represented the only inflow to the Natural Resource Fund (NRF)...
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Just a few squeaky wheels calling for end to hydrocarbons, says Trinidad Energy Minister

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Stuart Young, Trinidad and Tobago's Minister of Energy and Energy Industries has argued in favour of a balanced approach to energy production, acknowledging the transition challenges to renewable energy sources and the essential role of hydrocarbon-based resources in the...
News

US$9.6M plaza to be built at Vreed-en-Hoop near to major port facility

OilNOW -
GUYCAN INVESTORS GROUP INC. plans to invest GY$2 billion (approximately US$9.6 million) for the development of a plaza complex called SPECTRUM. The complex, to be situated at 14 Coglan Dam, Vreed-en-Hoop, West Coast Demerara, will include a restaurant, supermarket,...
News

Private sector targets Canada on quest to strengthen Guyana passport

OilNOW -
The Canadian Government's announcement that it will grant visa-free access to eligible travellers from 13 countries has been met with applause and an appeal from Guyana. The Georgetown Chamber of Commerce & Industry (GCCI) has called upon Canada to...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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