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Guyana will be “gift that keeps on giving” – Analyst 

OilNOW -
Guyana’s value to ExxonMobil will be felt for decades to come, according to an Analyst at Seeking Alpha, a crowd-sourced content service provider that publishes news on financial markets.  In his latest piece on April 12, the analyst examined Exxon’s...
News

Petrobras eyes more gas production with two new FPSO charters 

OilNOW -
Aiming to boost Brazil’s natural gas supply, the state-owned Petrobras issued tenders for two production platforms for its Sergipe Deepwater Project (SEAP), in the Sergipe-Alagoas Basin, about 100 km off the country’s coast.  Besides expanding Brazil’s availability of natural gas,...
News

Here’s a factsheet about Guyana’s draft model oil contracts

Kemol King -
Guyana’s ongoing offshore licensing round offers 14 blocks - 11 in the shallow water, and three in the deep. The draft model contracts will govern new licenses to be issued to winning bidders, and existing deals outside of the...
News

Guyana among world’s most powerful countries looking to produce as much oil and gas as it can

Shikema Dey -
The rapid development of oil and gas resources is not only high on Guyana’s agenda but that of some of the world’s most powerful nations. In fact, Guyana ranks sixth on a list of 30 big oil-producing countries pursuing new...
News

IMF significantly increases Guyana’s growth forecast for 2023, 2024

OilNOW -
Guyana’s growth forecast from the International Monetary Fund (IMF) has been given a considerable boost. While the institution’s 2022 Article IV report had estimated Guyana’s real gross domestic product (GDP) would grow 25.2% in 2023, this has been revised...
News

Arrests climb to over 30 in PDVSA billion dollar oil scandal: 67 warrants issued – Venezuela AG 

OilNOW -
The PDVSA billion dollar oil scandal runs deep with the arrests now at 34, according to Venezuela’s Attorney General Tarek Saab. Venezuelan authorities have also issued 67 arrest warrants, 30 of which are for public officials and financial operators...
News

220,000 bpd Prosperity FPSO arrives in Guyana waters

OilNOW -
Guyana’s third oil production vessel - Prosperity, has arrived in the country's waters.  Operator ExxonMobil in a Tuesday morning release said the Prosperity will kickstart production from its Payara field in the Stabroek Block later this year.  "The arrival of the...
Exploration

Exploration remains high-risk; Hess, CNOOC hit jackpot with Guyana farm-in – Westwood

OilNOW -
Energy market research and intelligence company Westwood Energy says exploration for hydrocarbons remains a high-risk business with only one in every three high impact exploration wells drilled between 2017 and the end 2022 resulting in a potential commercial discovery. “The...
News

Exxon looking for more warehouse facilities to support Guyana operations

OilNOW -
Stabroek Block operator, Esso Exploration & Production Guyana Limited (EEPGL), plans to put in place a contract for the provision of managed warehouse facility and services as its operations expand in the South American nation.  In a public request for...
News

Chinese shipyard delivers 4th Fast4Ward hull to SBM Offshore, starts work on #5

OilNOW -
Chinese shipyard, Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS), said it completed and delivered the fourth generic Fast4ward® Multi Purpose Floater (MPF4) Hull to SBM Offshore on April 5.   MPF4 adopted SBM Offshore’s proprietary generic hull design following the previous three...
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Latest News

NewsKemol King -

Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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