SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.
The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
Wood Mackenzie predicts a positive outlook for project development with 30 out of the viable 40+ expected to reach final investment decisions (FIDs) in 2023.
But it does not come easy.
WoodMac’s Vice President, Head of Upstream Analysis Frank McKay and...
Bolstered by ExxonMobil’s industry leading production and development pace in the Stabroek Block, Guyana’s oil and gas revenues are on track to break the US$1 billion mark this year and accelerate to US$7.5 billion annually in 2030, research by Rystad Energy shows.
The independent...
By Scott B. MacDonald - OilNOW
The Russo-Ukrainian War came as a surprise blow to the global economy, with the shock waves rippling outwards from Eastern Europe and the Black Sea and reaching as far as the Caribbean. It has...
Economic theory suggests that there are a number of advantages arising from the establishment of an oil fund. These include the opportunity to create sustainable wealth, facilitate economic development over the long-term, enhance economic stability and ensure that the...
The policy of investing resource revenues in reproducible capital suggests irresistibly that some appropriately defined stock is being maintained intact, and that consumption can be regarded as the "interest" on that stock (Solow 1986).
Since the discovery of oil and...
Guyana has been blessed with an abundance of energy resources. For the next 40 years our economy will become a major producer of oil and gas. Hydrocarbons development is at the heart of Guyana’s future prosperity and a cornerstone...
My recent attendance at GIPEX 2018 prompts my column today and what a conference it was! But more on that conference later.
Oil and Gas Conferences and Trade Shows
First, let’s talk about the benefits of oil and gas conferences and...
This column will be devoted to the subject of Local Benefits and how this can be best achieved in Guyana. This topic has received extensive coverage, both in OilNOW and in the local Guyana press.
I have been following the...
Canadian oil and gas consultant Rob Strong is adamant that much more oil will be found in the Guyana-Suriname Basin, in keeping with his view that the world class Liza discovery is like an elephant; and “elephants don’t travel...
