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Frontera Energy reports strong Q2 2023 results with net income of CA$80.2 million

OilNOW -
Frontera Energy has announced financial results for the second quarter of 2023, showcasing a substantial net income of CA$80.2 million or CA$0.94 per share. This marks a significant upswing from the previous quarter's net loss of CAD$11.3 million or...
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Guyana considering special committee to address labour shortage

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Guyana, in its rapid march towards development, is facing a concerning shortage of skilled, semi-skilled, and unskilled labour. To combat this issue, the government is pondering the creation of a National Labour Committee, working under the umbrella of the...
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Jan De Nul’s Galileo Galilei departs as largest dredger to ever traverse Demerara River

OilNOW -
M.V Galileo Galilei, the largest dredger ever to sail the Demerara River, has now made its exit from Guyana. This marvel, owned and operated by the Jan De Nul Group, leaves behind a testament to its efficacy – a...
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Guyana government agreed to unitise Exxon’s Liza, Payara fields

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Guyana’s Minister of Natural Resources has revealed that the government agreed to let Exxon unitise the Liza and Payara fields, a step to allow a floating production, storage and offloading (FPSO) vessel from one field to tap oil from...
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Guyana, Brazilian crude set to be in head-to-head competition says S&P Global analyst

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S&P Global Commodity Insights’ oil pricing and news expert Patrick Harrington sees Guyana and Brazil’s crude going toe-to-toe when Guyana’s production hikes.  “...as Guyana’s production ramps up, Guyana and Brazilian crude will be in real head-to-head competition,” Harrington shared in...
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Petrobras mulling 10% surge in investment for five-year strategy

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Brazil's state-run oil company Petrobras is considering the possibility of boosting its investments in the upcoming five-year business plan by as much as 10%, according to statements made by Chief Financial Officer, Sergio Caetano Leite. If approved, this adjustment...
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Local farm supplying produce for Guyana’s oil production vessels recognized for innovative use of technology

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Plympton Farms’ greenhouse and hydroponic system, which are being supported by SBM Offshore Guyana’s Green Farms Initiative, recently gained the attention of the highest office in the South American country for its use of technology that allows for increased...
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Saipem secures US$700 million worth of contracts from Eni and BP

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Italy's Saipem, a leading engineering, drilling, and construction services company, continues to make waves in the energy sector with its recent contract wins. In the span of two days, the company has secured its third contract this month. The...
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From 0 to 400,000 barrels a day, Guyana “exploded” onto oil scene – S&P Global Analyst 

OilNOW -
Guyana’s ascent on the global oil scene has been nothing short of spectacular, as described by S&P Global Analyst Patrick Harrington during a podcast on August 3.  In a few short years, the South American country continues to make waves...
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Investor in new Exxon shorebase supporting major Demerara bridge project

OilNOW -
Azruddin Mohamed, a principal at Mohamed's Enterprise and an investor in the Vreed-en-Hoop Shore Base Inc. (VEHSI), announced on August 4 key support for the construction of the new Demerara Crossing. The project is one of the most important...
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Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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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