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Guyana’s 3rd oil production vessel enters dry dock in Singapore

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The massive hull for the Prosperity floating production storage and offloading (FPSO) vessel has entered drydock at the Keppel Shipyard in Singapore, SBM Offshore announced on Wednesday. The Prosperity is Guyana’s 3rd FPSO and will follow the Liza Unity which is...
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Guyana pledges to achieve 70% emissions reduction by 2027 in revised NDCs

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Guyana’s Vice President, Dr. Bharrat Jagdeo announced on Monday that Guyana’s Nationally Determined Contributions (NDCs) has been revised to take on a more realistic ambition. Instead of the previously stated goal to achieve 100 percent renewable energy by 2025,...
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U.S. looking forward to finalised local content policy, wealth fund legislation – Ambassador Lynch

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The Government of the United States of America is looking forward to the finalisation of Guyana’s Local Content Policy, as well as amendments to the legislation on which the country’s Natural Resources Fund (NRF) has been established. This is...
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Oil major Chevron seals the deal for Suriname oil block

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U.S. oil major Chevron has signed a Production Sharing Contract (PSC) with Suriname state oil company Staatsolie Maatschappij Suriname for block 5 offshore the South American country. By entering the PSC, Staatsolie said Chevron has been granted exploration, development and...
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Oil emerges king of Guyana’s export earnings – half-year report

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Guyana’s Central Bank has noted in its 2021 Half Year Report that the nation’s oil sector has taken the lead in boosting Guyana’s export earnings. According to the report, total export receipts increased by 63.6 percent or US$786.9 million...
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Exxon advancing installation activities for Liza Unity FPSO

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Guyana’s Maritime Administration Department (MARAD) has announced that preparations for commencement of installation activities at the Stabroek Block for the Liza Unity Floating Production Storage and Offloading (FPSO) vessel will soon get underway, as the South American country prepares...
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TechnipFMC bags substantial contract for Brazil’s Petrobras

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TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a substantial long-term charter and services contract by Petrobras (NYSE: PBR) for the pipelay support vessel Coral do Atlântico. The Brazilian-registered vessel has been secured on a three-year contract, with an option to...
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World’s first fully automated land rig drills first well for Exxon

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Nabors Industries Ltd. (NYSE: NBR), a leading provider of advanced technology for the global energy industry has announced its PACE®-R801 – the world’s first fully automated land drilling rig – has reached total depth on its first well, a...
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Current oil prices will generate ‘wall of cash’, Guyana barrels well positioned, says industry experts

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As Brent oil price continues to rise, a researcher at consultancy group Wood Mackenzie says the upstream industry is set to generate a windfall and this presents a golden opportunity to reposition for a very different future. In previous upcycles...
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Analyst says Exxon can pave low-carbon path for Guyana

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Guyana’s massive Stabroek Block is a prime example of where cleaner crude reservoirs can be prioritized to generate less emissions while maximising returns to investors and the government. With around 10 billion barrels of oil equivalent discovered since 2015...
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Hammerhead gas to flow through pipeline as soon as project starts

Gas from ExxonMobil’s newly sanctioned Hammerhead development will begin flowing immediately through Guyana’s Gas-to-Energy (GtE) pipeline once production starts...

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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