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Guyanese marine player acquires majority stake in Bourbon joint venture 

OilNOW -
French offshore vessel player Bourbon said on Monday that Guyanese company Tethys Marine & Logistics, is now a 51% shareholder of the Bourbon Guyana Joint Venture. It said Guyanese now represent 75% of its directorship. A Guyanese company is defined...
News

Noble forging ahead with plans to increase local capacity in South America’s hottest basin 

OilNOW -
Building Guyana’s local capacity remains paramount to Noble Corporation, the driller with the most rigs in the ExxonMobil-operated Stabroek Block.  Noble said its four-year Local Content Master Plan draws on set targets to use locals where applicable and invest in...
Exploration

Total getting Block 58 “volumes right” before FID, likely in 2024 – Staatsolie asset manager

OilNOW -
Exploration and non-operated venture asset manager at Suriname’s state-owned Staatsolie, Patrick Brunings is confident of a final investment decision for Block 58 next year.  Brunings told Hart Energy that operator TotalEnergies and APA Corporation are quantifying the finds it has...
News

Petrobras sale goes through despite Lula’s freeze on asset dumping 

OilNOW -
Petrobras is still dumping assets, despite the directive from the Lula-led administration.  The state-owned company announced the closure of the Norte de Capixaba deal with Seacrest Petroleo, an independent that was recently listed on the Euronext stock exchange.  The company appears...
News

Incentivised bids can increase investor chances of winning blocks in Guyana licensing round – Deakin 

OilNOW -
Americas Market Intelligence (AMI) co-director and analyst Arthur Deakin believes that oil majors looking to grab up prime blocks in Guyana’s first-ever licensing round may need to include a few attractive incentives to increase their chances of being selected.  Compared...
News

Keppel hires GE Power to supply electric modules for Brazil-bound FPSOs

OilNOW -
Singapore-based Keppel Shipyard has selected GE Power Conversion to design, supply and deliver two electrical modules for Petrobras’ floating production, storage and offloading vessels (FPSO) that will operate in Brazil. The FPSO vessels, coded P-80 and P-83, will be used...
News

Work begins on Trinidad’s 112MW solar project 

OilNOW -
Trinidad and Tobago took a major step towards achieving its clean energy goals as work officially began on the country's first utility-scale solar project. The sod-turning ceremony at Brechin Castle marked the beginning of the construction of the 112MWac...
News

No decision yet on oil refinery for world’s fastest growing economy

OilNOW -
The Guyana government has not made a decision yet on whether or not to pursue the construction of an oil refinery in the country, according to comments made by Vice President Dr. Bharrat Jagdeo. Dr. Jagdeo stated during a media...
News

Six schools feature in SBM Offshore’s first Guyana-Monaco Mousetrap Car Grand Prix

OilNOW -
Six schools from Guyana recently participated in the first-ever Guyana-Monaco Mousetrap Car Grand Prix, an exciting competition aimed at promoting science and engineering among students, hosted by SBM Offshore Guyana. The event, which was held on April 11 at...
News

2023 oil price forecast hiked to $85/b by US Energy Body as OPEC cut remains in play 

Shikema Dey -
Oil prices shot up to US$83 per barrel as the United States (US) Energy Information Administration (EIA) revised its forecast for this year and the next.  In its Short Term Energy Outlook, the EIA expects Brent to average at US$85.01...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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