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3,000 jobs to be generated from gas-to-shore project in Guyana

OilNOW -
The piping of natural gas to shore in Guyana for the generation of cheaper power is expected to have a significant impact on the manufacturing and other productive sectors and reduce the burden of high electricity rates for citizens,...
News

Ramp up in oil production to result in ‘high rates of real economic growth’ says Finance Minister

OilNOW -
With Guyana currently having over US$200 million in its Natural Resources Fund (NRF) from oil exports and royalty, the government anticipates that the ramp up in production this year will result in greater earnings and an increase in economic...
Exploration

Baker Hughes says U.S. drillers add oil and gas rigs for 12th week in a row

OilNOW -
(Reuters) - U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, the longest streak of additions since June 2017, as crude prices hit their highest in more than a year. The oil...
Exploration

Guyana among top 10 countries where subsea boosting can add millions of barrels of oil to output – Rystad Energy

OilNOW -
Subsea boosting, which is the most mature technology within the subsea processing toolbox, can add millions of barrels to recoverable reserves and Guyana has been identified as one of the top 10 countries where such an intervention can be adopted. Norway-based...
News

Guyanese entitled to know how much is being earned from oil: non-disclosure will be punished – President

OilNOW -
In keeping with its commitment to ensure that all revenues from Guyana’s multi-billion-barrel oil resources are accounted for, President Irfaan Ali said on Thursday his government is now moving to introduce legislation that would severely punish the non-disclosure of...
News

Hess says Guyana production could hit 1.5 million bpd before 2030

OilNOW -
With every new discovery off the coast of Guyana, analysts have been ramping up their projections for output, making it clear that the new oil producing nation is on course to become one of Latin America’s top producers, potentially...
News

Guyana’s President urges unity in face of Venezuela aggression, threat to oil resources

OilNOW -
Guyana’s President, Dr. Iraan Ali, said on Thursday that the threat to the country’s territorial integrity and the protection of its oil and gas resources will require a united approach by all Guyanese, who must defend the country’s entitlements...
News

Eight Suezmaxes booked out of Guyana so far this year as output set to balloon – Platts

OilNOW -
(S&P Global Platts) A partial easing of US sanctions on Venezuela on humanitarian grounds could pump Caribbean-loading cargoes into the Aframax and Suezmax markets, reviving the traditional local and long-haul Caribbean-loading routes. Uncertainty on the Biden administration's approach to...
News

Greater Guyana Initiative fully funded by Stabroek Block co-venturers – ExxonMobil

OilNOW -
ExxonMobil and co-venturers on the Stabroek Block, Hess and CNOOC, have affirmed that their commitment to Guyana extends beyond the oil and gas sector. The companies are investing billions of Guyana dollars in capacity-building and the economic development of...
News

Suction piles, mooring lines installed for hook-up to Liza Unity FPSO, Prosperity on schedule – SBM Offshore

OilNOW -
The Normand Installer Multi-Purpose Offshore Vessel has completed the installation of suction piles and mooring lines at the Stabroek Block offshore Guyana, in preparation for the arrival and hook-up of the massive 220,000 bpd Liza Unity FPSO, which is...
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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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