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Pricey FPSOs startle Petrobras as it pursues production ramp-up

OilNOW -
IHS Markit said Brazil’s Petrobras has been making orders for floating production, storage, and offloading (FPSO) vessels at price tags spiked by supply chain disruptions. As Brazil targets an aggressive production ramp-up, it will continue to be faced with higher...
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Right fiscal regime key to Guyana getting most out of upcoming bid round – Rystad Energy

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With the right fiscal regime in place, Guyana could reap the most benefits from the upcoming oil block auction, Norway’s Rystad Energy said. The highly anticipated auction will be the first time Guyana hands out oil licenses through a competitive...
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First phase of GAICO’s dry dock laydown & storage yard on track for October completion

OilNOW -
Work on GAICO Construction and General Services Inc.’s dry dock laydown and storage yard at Nismes Foreshore, West Bank Demerara is moving apace with the company on track for phase one to be completed in October. Its Chief Executive Officer...
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Guyana has earned over US$1.2 billion since oil production started – nearly half its 2022 budget

Kemol King -
The Natural Resource Fund, established to receive revenues from oil sales and royalties, has received more than US$1.24 billion since first oil in December 2019. This scale of revenue flow is significant for Guyana, since from this single sector, these...
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Soaring oil prices lead Saudi Aramco to smash quarterly record with US$48.4B in profits for Q2

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Saudi Aramco reaped the most benefits from the global energy crisis, raking in a record breaking US$48.4 billion in profits as the second quarter of 2022 closed. That represents a 90% jump in quarterly profits – up from US$25.5 billion...
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World’s biggest emerging ‘super-basin’ holds barrels with some of the lowest carbon intensity

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Today’s oil and gas industry is strikingly concentrated. Almost three-quarters of resources are in just 10 basins that hold more than 100 billion boe. Fewer than 50 traditional super basins supply more than 90% of the world’s oil and...
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Exxon committed to playing key role in delivering lower cost power to Guyana – Routledge

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President of ExxonMobil Guyana, Alistair Routledge, said the company is committed to doing everything it can to ensure the Gas-to-Energy project, set to deliver lower cost and lower emission power to the new oil producing country, is successful. “It’s a...
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Noble strikes deal to sell rigs, in pursuit of Maersk merger

OilNOW -
Noble Corporation has entered into an asset purchase agreement to sell five jackup rigs in pursuit of a merger with Maersk Drilling. It had said that upon notifying United Kingdom regulators about the proposed merger, the Competition and Markets Authority...
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Exxon says potential exists to tie new oil finds at Stabroek Block into existing projects

OilNOW -
Production Manager for ExxonMobil Guyana, Mike Ryan, said there is potential to tie new discoveries at the Stabroek Block into existing offshore projects. The use of this engineering process, called subsea tieback, is a move that saves companies a fraction...
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SBM Offshore aiming for ‘near-zero emissions FPSO’ by 2025 – CEO

OilNOW -
SBM Offshore is positioning itself to benefit from the global energy transition. The company has its eyes set on achieving net-zero emissions by 2050 and has announced new intermediate greenhouse gas-related targets. SBM Offshore’s Chief Executive Officer (CEO) Bruno Chabas disclosed...
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NewsShikema Dey -

More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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