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Iconic Guyanese-owned Pegasus Hotel completes major expansion

Kemol King -
Guyanese businessman, Robert Badal, celebrated the grand opening for the US$100 million Pegasus Hotel Suites and Corporate Centre in Kingston, Georgetown on Wednesday evening. Guyana’s hospitality sector has benefited from major investment interest and injections. But this project is unique...
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Fifth floater for Brazil’s Buzios field on its way

OilNOW -
The fifth vessel for the Petrobras-operated Buzios Field has started its voyage from the MODEC shipyard in China to South American nation Brazil. Petrobras said that the floating, production, storage, and offloading (FPSO) platform ‘Almirante Barroso’ will carry out navigation...
Exploration

ExxonMobil to drill over 60 exploration wells offshore Guyana in six years

OilNOW -
After having made more than 30 discoveries offshore Guyana with a success rate close to 90%, ExxonMobil sees the potential for the Stabroek Block’s near 11 billion oil equivalent barrels to more than double. In addition, the company sees...
News

Large number of ships heading to South America, Caribbean with refined products

OilNOW -
(S&P Global Platts) A large fleet of refined product cargoes was en route July 19 to the southern part of South America to fill winter and harvest needs and to the Caribbean to fill summer tourist demand. Platts cFlow ship and...
News

China’s LNG imports to see unprecedented decline in 2022 – WoodMac

OilNOW -
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says global research and consultancy group, Wood Mackenzie. After a solid growth in 2021, China’s...
News

Halliburton sees drilling demand lasting “multiple years” despite lower earnings in Q2

OilNOW -
Oilfield services provider Halliburton on Tuesday said it remains confident of years of increased drilling activity globally despite recording lower earnings in the second quarter of 2022. The company’s net income fell to US$102 million from US$263 million mainly due to the pre-tax...
News

Guyana raked in over GY$48B in oil revenues in second quarter

OilNOW -
In just three months, Guyana received a total of GY$48,406,316,589 (US$232,164,587.96) in royalty and profit oil payments in the Natural Resource Fund (NRF), according to a notice published in the Official Gazette dated July 18, 2022. Giving a breakdown, the Finance...
News

CGX CFO leaves job with immediate effect, new person appointed

OilNOW -
CGX Energy announced on Monday that its newly installed Chief Financial Officer (CFO) George Davis has been replaced by Daniel Sanchez – currently head of the Corporate Consolidation and Reporting team at Frontera Energy Corporation, effective immediately. Davis had been appointed CFO on July 5 but according...
News

Guyana modernising transport infrastructure in region set for major development

OilNOW -
As the growth of Guyana's oil and gas sector fuels development in areas where service centers are erected, the government is moving to upgrade and modernise supporting infrastructure – particularly for the transport sector. Through the Central Housing and...
News

US gas production to surpass record 100 Bcfd by year-end, more growth expected in 2023 – Rystad Energy

OilNOW -
US natural gas production is forecast to hit an all-time high in the coming months, racing past 100 billion cubic feet per day (Bcfd), helping feed global demand as the world faces a severe supply shortage. Rystad Energy’s analysis...
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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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