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Gas prices drive TotalEnergies’ profits up 40%; workers to get “exceptional” bonus

OilNOW -
French multi-energy company, TotalEnergies, has joined the ranks of other oil majors recording massive profits for the third quarter of 2022. Its executives reported this week that earnings jumped by more than 40% to US$6.6 billion in Q3. In...
Exploration

UK threatens fines for operators who fall short of drilling obligations

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Britain’s oil and gas regulator – North Sea Transition Authority (NSTA) – on Friday issued a warning to the industry that it would not hesitate to take action against companies that fail to meet their licence obligations. The warning was...
News

Extending transition period for compliance with Local Content law could foster more genuine partnerships – businessman

OilNOW -
While he agrees wholeheartedly with Guyana’s move to implement robust Local Content legislation, Chief Executive Officer (CEO) of Ascending Limited, Andrew Schnitzer da Silva, asserts that authorities may wish to consider extending the transition period for compliance beyond 2022....
News

World’s largest oilfield services company posts massive US$7.5 billion Q3 earnings

OilNOW -
Schlumberger, now called SLB, the world’s largest oilfield services provider and a key contractor for ExxonMobil’s operations in Guyana, has recorded a US$7.5 billion earning in the 2022 third quarter. This represents a 10% growth over the 2022 second...
News

As major discoveries mount in Guyana, Exxon posts record-breaking Q3 profit

OilNOW -
American oil giant ExxonMobil Corporation posted yet another record-breaking profit with earnings for the third quarter of 2022 totalling US$19.7 billion. In the second quarter, the company recorded US$17.9 billion in earnings, its largest quarterly record ever at that time. This...
News

November hearings set for Venezuela’s objections in border case with Guyana

OilNOW -
The International Court of Justice (ICJ) has announced that it will hold public hearings in the case concerning the Arbitral Award of 3 October 1899 (Guyana v. Venezuela) – the matter concerning the controversy over the Essequibo region –...
News

The oil belongs to the people; we’re committed to ensuring they benefit from it – Routledge

OilNOW -
ExxonMobil is the latest in over 20 oil and gas companies operating in Guyana to have their five-year Local Content master plans approved by the regulator. Exxon, Saipem Guyana Inc., and Gulf Engineering Services Guyana Limited got their approvals this...
News

Uaru project likely to exceed US$10 billion

OilNOW -
ExxonMobil’s fifth and largest development project in Guyana to date is likely to cost more than US$10 billion due to inflationary pressures. Providing insight on the expected cost for the Uaru development on Wednesday, was Hess Corporation, a 30% stakeholder in the Stabroek Block. During its...
News

Aker Carbon Capture’s facility for offshore oil and gas fields gets key certification

OilNOW -
Aker Carbon Capture said that the Just Catch Offshore™, a modularised carbon capture facility for offshore installations, was recently qualified by DNV. DNV is a global assurance provider and classification society for vessels and mobile offshore units. With its leave, Aker...
Exploration

With nine Guyana discoveries so far, 2022 marks best exploration year for Stabroek co-venturers

Shikema Dey -
With two new discoveries announced on Wednesday, 2022 is being referred to as the best exploration year in Guyana for the ExxonMobil-led co-venturers. Exxon has a 45% stake in the 6.6 million acres Stabroek Block, with Hess Corporation holding 30% and...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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