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Guyana will not be like countries that splurge oil money, and have nothing to show for it – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo said he has seen many oil-producing countries around the world splurge their windfall revenues and have nothing to show for it in the end.  This, he said, will not be a fate that befalls...
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Oil can “profoundly” transform Guyana’s economy – IMF

Shikema Dey -
With a discovered petroleum resource count of close to 11 billion barrels of oil equivalent, Stabroek Block operator ExxonMobil has churned out big wins for Guyana. Now, the International Monetary Fund (IMF) said that when this number tips over, Guyana’s...
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Capricorn ditches Tullow merger for NewMed Energy

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British International Oil Company (IOC) Capricorn Energy announced a proposed merger with NewMed Energy to create a Middle East and North Africa (MENA) energy champion. The deal, which Capricorn said would create one of the largest upstream energy independents listed...
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Trinidad’s National Gas Company records TT$1.6 billion profit, helped by price rebound

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Amidst an aggressive push by State authorities to maximise earnings from its gas resources, the National Gas Company of Trinidad and Tobago (NGC) was pleased to disclose on Wednesday that it recorded a profit of TT$1.6 billion, together with...
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Guyana seeks consultant to review development plan for Exxon’s giant Uaru project

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The Government of Guyana issued on Wednesday, a request for Expressions of Interests (EOI) from suitable consulting firms to review the Uaru Field Development Plan (FDP) to be prepared by ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana...
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Oil revenues could see Guyana public debt-to-GDP ratio plummeting to historic 13.5% – IMF

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Though Guyana is poised to produce over 800,000 barrels of oil from its four sanctioned projects, the Government has been prudent in guarding against wild spending and borrowing against the resources to come. And the International Monetary Fund (IMF) was...
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Barbados offshore auction delayed to December 2022

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Minister of State in Foreign Trade and Business for Barbados, Sandra Husbands, said the government announced that its 2022 offshore licensing round will be launched on December 1, 2022. This represents a delay of one month, after previous information from the Ministry...
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Keppel bags US$2.8 billion deal to build new FPSO for Petrobras

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Keppel Shipyard copped a US$2.8 billion deal from Brazil’s state-owned Petrobras for the engineering, procurement, and construction (EPC) of a new floating oil platform – P-83. Scheduled for delivery in H1 2027, the P-83 is a repeat order of the...
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Guyana will produce over 93 million barrels of oil this year as growth in sector surpasses 100% – IMF

Shikema Dey -
Guyana’s oil sector has been on an upward trajectory since production began in 2019 from ExxonMobil’s Liza Phase 1 development. And now, the International Monetary Fund (IMF) sees the country’s oil sector gross domestic product (GPD) growing over 100%...
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Demand for shore base capacity in Guyana to skyrocket with 10 FPSOs in play

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The demand for shore base support services is set to grow tenfold as Stabroek Block operator ExxonMobil eyes at least 10 floating oil platforms offshore Guyana around the end of the decade. Exxon is forging ahead with its exploration and...
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Longtail project to mark beginning of Guyana’s new gas chapter – ExxonMobil’s Routledge

ExxonMobil Guyana President Alistair Routledge says the upcoming Longtail development will open a new chapter in Guyana’s energy journey,...

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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