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Counter appeal filed in oil spill insurance case

OilNOW -
Civil Society Activist and Head of Transparency Institute Guyana Inc. (TIGI), Frederick Collins filed an objection on May 11 in Guyana's Appellate Court against an appeal by the Environmental Protection Agency (EPA). His objection is intended to block the EPA's...
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Exxon integrating technology, project management capabilities to grow unique Guyana asset at an industry-leading pace

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ExxonMobil Corporation’s Senior Vice President & Chief Financial Officer (CFO), Kathy Mikells recently disclosed that the American multinational is deploying its best technologies and project management capabilities to grow Guyana’s unique assets at an industry leading pace. Speaking to shareholders...
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SBM Offshore orders 8th Fast4Ward® Multi-Purpose Floater hull

OilNOW -
Dutch contractor, SBM Offshore’s full-year guidance remains on track after good performance in the first quarter of 2023.  Its report released on May 11, noted that the company has upped its Lease and Operate revenue to US$453 million - a...
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Three lines of defense protect Guyana from liability if a spill occurs

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Vice President Dr. Bharrat Jagdeo explained on May 11 that the cover in place for Guyana in case of a spill amounts to some US$16.6 billion.  This follows a statement from the Environmental Protection Agency (EPA) which said negotiations with...
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MODEC to supply fully electrified FPSO to Brazil for Equinor’s Campos basin cluster

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MODEC has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltd, a subsidiary of Equinor ASA, to provide a fully electrified Floating Production, Storage and Offloading (FPSO) vessel for the Pao de Acucar, Seat & Gavea...
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EPA consulted multiple established jurisdictions to determine guarantee from Exxon

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Guyana’s Environmental Protection Agency (EPA) has come out in defense of its decision to appeal a Supreme Court ruling related to the provision of financial assurance from ExxonMobil in the unlikely event of an oil spill due to Stabroek...
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Prospector won against CGX Energy in Demerara Block seismic arbitration case

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CGX Energy had to relinquish the Demerara Block because it couldn’t find the funds to do its work. It turns out that CGX Energy was taken to arbitration for funds owed to Prospector PTE Ltd., a company it had...
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Guyana not a backwater country, must not engage in economic nationalism – Jagdeo

Kemol King -
The Guyana government is facing criticisms of its management of the oil sector, including accusations of anti-nationalism, hot on the heels of an upset judgment by the Supreme Court. Justice Sandil Kissoon said ExxonMobil affiliate, Esso Exploration and Production...
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Local logistics company supporting Guyana’s GtE project

OilNOW -
Demerara Integrated Logistics Inc. has delivered a second vessel to support ExxonMobil’s operations offshore Guyana - this time, for the Gas-to-Energy (GtE) project.  The latest vessel to be delivered - Knockout P - a DP2 platform supply vessel (PSV) will...
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Despite 19% drop in profits, Saudi Aramco remains world’s second-largest company after displacing Microsoft

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Saudi Aramco, the world’s largest oil exporter, has announced its first-quarter 2023 net profit of US$31.88 billion, beating analysts’ expectations. Although the figures represent a 19% drop from the corresponding period in 2022, the company has exceeded market expectations...
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Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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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