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Guyana moving towards approval of Exxon’s largest offshore project at Stabroek Block to date

OilNOW -
The Guyana government is putting everything in place for the approval of the giant 250,000 barrels per day Yellowtail Development Project soon with Vice President Dr. Bharrat Jagdeo telling reporters on Thursday all systems should be in place by...
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Authorities want banks to accept oil contracts as collateral from local companies

OilNOW -
Cognizant of the difficulties some local companies have been facing over the years in accessing finance from commercial banks in Guyana, Vice President, Dr. Bharrat Jagdeo says the government will soon have a meeting with financial institutions on allowing...
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Local companies will be able to submit tax-free bids for oil contracts – Jagdeo

OilNOW -
The Government of Guyana intends to pass on direct instructions for local companies to submit their bids for oil contracts net of taxes so that they can have a competitive advantage against foreign suppliers. This is according to Vice...
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Guyana looking to get better terms when time comes for CGX PSA – VP Jagdeo

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Should CGX Energy Inc. and its partner, Frontera Energy Corporation move to produce its Kawa-1 discovery in the Corentyne Block, Vice President Dr. Bharrat Jagdeo has assured that better fiscal terms will be secured in its Production Sharing Agreement...
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19 wells ‘ready to go’ as Liza Unity FPSO undergoes final hook-up, commissioning

OilNOW -
The Liza Unity Floating Production Storage and Offloading (FPSO) vessel is undergoing final hook-up and commissioning at the ExxonMobil-operated Stabroek Block offshore Guyana in preparation for the start of oil production at the Liza Phase 2 Development. “Unity is on...
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Oil prices dip slightly as OPEC+ sticks to output plans

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(Reuters) - Oil prices eased on Thursday following weak U.S. payrolls data and some profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude fell 61 cents, or 0.7%, to $88.86 a...
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Baker Hughes targeting Guyanese students for internship programme

OilNOW -
U.S oil industry company Baker Hughes has been targeting Guyanese students with its internship programme which is designed to enable those pursuing a bachelor’s or master’s degree to gain hands-on work experience. “Our internships will give you first-hand insights into...
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The world needs Guyana’s low carbon intensity oil developments, Hess tells investors

OilNOW -
The world’s newest oil producing nation is positioned to play a major role in delivering low carbon intensity barrels to a global economy still dependent on fossil fuel to meet its energy needs. Guyana, a nation bordering Venezuela and Brazil...
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ExxonMobil’s 2021 profits soar to US$23B; its largest in 7 years

OilNOW -
Exxon Mobil Corporation, the world’s largest refiner and marketer of petroleum products, disclosed on Tuesday that it has bounced back from a massive US$1.4B loss in 2020, recording a whopping US$23B in earnings for 2021. Importantly, this is the...
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Catering company Newrest says it is committed to equal worker treatment

OilNOW -
Newrest Guyana, the company providing catering services on the Liza Destiny FPSO said in a statement on Tuesday it is committed to upholding equal treatment for its employees and promoting local content. This follows reports of alleged mistreatment of Guyanese...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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