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Guyana oil fund managers eyeing benefits from high interest rates; no investment plans yet

OilNOW -
The Board of Directors for Guyana’s Natural Resource Fund (NRF) has issued its first mandate for the account, ordering that the funds remain put, as outlined in Central Bank’s 2023 first-quarter report.  During the quarter, the report states that a...
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Baker Hughes books over US$300M in new energy orders this year, nets US$5.7B for quarter 

OilNOW -
Oilfield service company Baker Hughes raked in US$5.7 billion in revenue as the first quarter of 2023 closed, with over US$300 million in new orders already secured.  In its earnings report for the quarter, Baker Hughes said the stronger-than-expected quarterly...
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Mapping Guyana’s Path Between Climate Change and Energy: Ulric Trotz’s White Paper

OilNOW -
By Scott B. MacDonald Climate change and energy transition have converged as the two major forces shaping the world in the early 21st century. In the Caribbean, the newly minted oil producing state, Guyana, finds itself pulled by both forces,...
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Jagdeo calls Suriname Agri-Minister “a shady character” after fishing licenses row

OilNOW -
Guyana Vice President Dr. Bharrat Jagdeo referred to Suriname’s Agriculture Minister as a “shady character” following a fishing licenses row between the two countries. Parmanand Sewdien is the Suriname official in question. “… Suriname and some of the Ministers, especially...
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More seismic surveys planned for oil block with one of the highest success rates for discoveries on the planet

OilNOW -
ExxonMobil Guyana is set to continue 3D/4D seismic survey operations at the offshore Stabroek Block, beginning April 20.  Guyana’s Maritime Administration (MARAD) said the exercise is set to conclude on December 31.  The survey will incorporate the use of five support...
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With accelerating development, Guyana will have to import skilled labour soon – President

OilNOW -
Guyanese authorities have already attuned their minds to the reality that skilled labour will have to be imported soon to support the swelling tide of oil-related developments. President of Guyana, Dr. Mohamed Irfaan Ali gave the most recent nod of...
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India to support South America’s new oil producer with traffic management

OilNOW -
Guyana will be receiving support from India in advanced traffic management as talks between the two nations advanced on April 18 ahead of a visit from India’s External Affairs Minister, Dr. Subrahmanyam Jaishankar. Guyana’s Minister of Public Works, Juan Edghill...
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A look at Latin America & Caribbean countries pursuing new oil & gas bid rounds

Shikema Dey -
Countries in Latin America and the Caribbean, like their counterparts around the world, are forging ahead with plans to accelerate the development of their oil and gas resources. This has seen countries such as Guyana and Suriname rolling out...
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Georgetown Chamber, US embassy to address digitisation hindrance to investment in Guyana

OilNOW -
A memorandum of understanding (MOU) is on the cards for the Georgetown Chamber of Commerce and Industry (GCCI) to tackle issues that hinder investment in Guyana. High on the agenda, is the lack of digitised operations and businesses in...
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Airlines flooding Guyana as oil-driven economy booms

OilNOW -
Destination Guyana is the hottest thing on the market, evidenced by the way airlines are rushing to fly the South American country's route. Over the past few months, Guyana has seen an influx of new airlines, no doubt brought...
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Hammerhead gas to flow through pipeline as soon as project starts

Gas from ExxonMobil’s newly sanctioned Hammerhead development will begin flowing immediately through Guyana’s Gas-to-Energy (GtE) pipeline once production starts...

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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