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Guyana gov’t keeping with new reporting obligations for oil wealth

OilNOW -
Guyana’s Minister of Parliamentary Affairs and Governance, Gail Teixeira on behalf of Senior Finance Minister Dr. Ashni Singh tabled a Notification of Receipts to the National Assembly, of all petroleum revenues paid into the Natural Resource Fund (NRF) during...
Exploration

Smaller player looking to bid on big blocks in Guyana basin

OilNOW -
Mid-Atlantic Oil & Gas Inc., which has a 12.5% stake in the Canje deepwater block, has signaled its interest in Guyana’s ongoing licensing round. Its co-founder and director, Edris Kamal Dookie, is quoted in the April 21 edition of Latin...
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Hess expected to announce lower earnings despite higher revenues  

OilNOW -
Hess Corporation is expected to report lower year-on-year earnings despite higher revenues for the first quarter of 2023 when it releases its financial results on April 26, according to the consensus estimate from analysts at Zack's Equity Research. This oil...
News

Exxon sets eyes on Liberia prospects after quitting in 2017

OilNOW -
Oil major ExxonMobil intends to re-establish itself in Libera's offshore industry - a country it quit in 2017.  This renewed interest was surprisingly sparked by Exxon’s success in South America’s newest addition to the oil game - Guyana, according to...
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Guyana’s oil boom freeing up finance to catalyse other extractives 

OilNOW -
ExxonMobil’s Stabroek Block operations are not only injecting new life into Guyana’s construction, agriculture, and tourism industries, but its mining sector too. According to Atrium Research Corporation (ARC), a trusted provider of analysis for public equities in North America,...
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Exxon sees reduced risk in shifting focus to tropics

OilNOW -
ExxonMobil’s activities in the Arctic are set to dwindle as the oil major shifts its focus to more promising projects elsewhere on the globe.  Exxon said, “Our current investment plans do not include exploration activity within the Arctic Monitoring...
News

Local Content proving itself as tool to combat Dutch Disease in Guyana

OilNOW -
Local Content accounted for 5% of Guyana's economy in 2022, marking a milestone for the country's efforts towards economic diversification and combatting the dreaded Dutch Disease. The Local Content Act of Guyana, which mandates the procurement of goods and...
News

Major coastal, highland communities in Guyana to switch to solar

OilNOW -
Guyana is set to make significant strides in its renewable energy sector, thanks to $83.3 million in funding from the Norwegian Agency for Development Cooperation (NORAD) for the Guyana Utility Scale Solar Photovoltaic Program (GUYSOL). The funding is being...
News

Builder of Guyana FPSOs placing major focus on sustainability

OilNOW -
Sustainability is a crucial tenet for SBM Offshore, the builder of the floating production storage and offloading (FPSO) vessels operating in Guyana’s offshore Staborek Block.  In a video published on LinkedIn last week, Chief Executive Officer (CEO) Bruno Chabas recalled...
News

Exxon’s newly minted Prosperity FPSO for first annual inspection ahead of first oil

OilNOW -
The first inspection of the Prosperity floating production, storage and offloading (FPSO) vessel by Guyana’s offshore operations unit has been scheduled for May/June 2023, Guyana’s Minister of Public Works, Bishop Juan Edghill said on April 19. The activity is...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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