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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

OilNOW -
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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ExxonMobil to provide Guyana with “real-time” access to Uaru production data/reports

OilNOW -
ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) has agreed to provide Guyana with real-time access to data pertaining to the Uaru Development Project. The level of compliance expected by Guyanese regulators is explicitly...
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Guyana’s oil fund valued GY$348.6 billion at end of April

OilNOW -
After opening the month of April with a balance of GY$305,363,388,000 (approximately 1.46 billion), Guyana's Natural Resource Fund received royalties and two payments of profit oil revenues. This moved the balance of the fund to GY$348.6 billion (US$1.67 billion),...
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Exxon’s Guyana projects challenging MODEC, SBM Offshore to break new ground

Kemol King -
With expanding crude production offshore Guyana at an unrivaled pace, builders of floating production, storage and offloading (FPSO) units are being pushed to add higher capacity vessels to their portfolios.  MODEC and SBM Offshore have both been entrusted by ExxonMobil...
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Suriname LNG developers kickstart process for environmental authorisation

OilNOW -
Phoenix Development and Havenbeheer Suriname have submitted a scoping report to Suriname’s National Institute for Environment and Development (NIMOS) seeking environmental authorisation for the planned liquid natural gas and mega port project - Firebird LNG.  In a May 8 announcement,...
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Guyana regulator moves to overturn court judgment on Exxon assurance guarantee

OilNOW -
The Environmental Protection Agency (EPA) has filed an appeal against a recent upset judgment by the High Court. Justice Sandil Kissoon directed the EPA to secure an unlimited parent and/or affiliate guarantee, based on a provision in ExxonMobil Guyana’s...
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A progress update on Guyana’s 4th oil development

OilNOW -
Work to deliver Exxon’s fourth oil production project offshore Guyana is progressing rapidly at opposite ends of the globe. Construction of the massive ONE GUYANA FPSO is underway in Singapore and development drilling is in high gear at the...
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Total, QatarEnergy grab up shallow blocks from Suriname’s 2021 bid round

OilNOW -
Suriname’s state oil company Staatsolie Maatschappij Suriname N.V., TotalEnergies Suriname and QatarEnergy signed production sharing contracts for offshore blocks 6 and 8 on Monday May 8, 2023. In 2021, a Shallow Offshore Bid Round was completed offshore the South American...
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Noble pilots management system on Maersk vessel drilling Wei-1 offshore Guyana

OilNOW -
Noble said it has kicked off the implementation of its management system on the Discoverer rig which is currently drilling CGX’s Wei-1 well offshore Guyana. Discoverer is the first Maersk vessel to test the Noble management system following the...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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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