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Oil money helping to ease impact of inflation, says government

OilNOW -
Following the passage of the Natural Resource Fund (NRF) legislation, the Guyana government has been able to authorise a US$607.6 million transfer to support the 2022 budget. The administration has said that the withdrawal would be used to invest heavily...
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More Guyana barrels will go to Europe, says Chief Economist

OilNOW -
With Europe scrambling for alternative energy sources in wake of the Russia-Ukraine war, Guyana’s light, sweet crude has assumed greater importance to the continent’s consumers. This was discussed by Scott B. MacDonald, Chief Economist for Smith’s Research & Gradings, and...
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Exxon’s 4th Guyana FPSO: Construction of topsides commences in Singapore

OilNOW -
SBM Offshore said construction of the topsides modules for the ‘ONE GUYANA’ floating production, storage, and offloading (FPSO) vessel and the accompanying marine structures has commenced in Singapore. Two steel strike ceremonies were held in both Keppel FELS and Dynamac...
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Guyana exports could replace 4% of all Russian gas that went to Europe in 2021 – Analyst

OilNOW -
Guyana could emerge as a major LNG exporter in coming years as massive hydrocarbon discoveries continue to mount off the country’s coast and output from neighbours such as Trinidad and Tobago continue to decline. In his most recent OilNOW column...
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Will OPEC’s biggest production cut since 2020 fuel a global recession?

Shikema Dey -
OPEC+ announced the biggest cut to its target production level since 2020 last week – some two million barrels per day (bpd). And the International Energy Agency (IEA) believes that the decision increases energy security risks worldwide and could lead...
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More investors flocking to Guyana since local content law enacted – Economist

OilNOW -
The provisions outlined in Guyana’s Local Content Act – a critical piece of legislation for the country’s booming oil sector took centre stage during Episode V of the Guyana Business Journal’s Transforming Guyana webinar on Wednesday. Since the law’s December 2021...
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Solar farm confirmed for another Guyana town

OilNOW -
Over 2,884 residents will benefit from a new 686 kilowatt-peak (kWp) turn-key solar farm in the Mahdia community, in Guyana, when it is commissioned around the end of 2023. Following an open tender process, the contract for the Mahdia solar PV project was awarded to Standby Power Engineering Company...
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SBM Offshore looking for more Guyanese to join its growing team

OilNOW -
SBM Offshore is forging ahead with its internship program, offering students the opportunity to harness their potential and be integrated into Guyana’s oil and gas sector. Applications opened on October 1, the company said in a public notice. The internship programme...
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Abu Dhabi, Norway, T&T NOCs among 14 vying to market Guyana crude

OilNOW -
As the Guyana government looks to market its share of crude from the Liza 1 and 2 developments in the Stabroek Block, 14 companies have tendered bids to secure this crude marketing project. The successful company will be taking over from Aramco...
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Petrobras adds two massive new oil platforms to rising offshore fleet

OilNOW -
Brazil’s offshore fleet of floating oil platforms has grown by two as Japanese contractor MODEC announced that the ‘Almirante Barroso MV32’ has arrived on Brazilian shores while the Anita Garibaldi is en route. The first vessel arrived on October 5...
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Exxon, Guyana push for joint planning on Berbice gas-fed industries

ExxonMobil Guyana Commercial Manager Paul Foster on Tuesday said that there are unique advantages to investing in Guyana, as...

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