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With unparalleled oil sector growth, outlook for Guyana better than ever before – IMF

OilNOW -
With the Guyana government accelerating the implementation of several reform programmes alongside the unparalleled expansion of the oil sector, the International Monetary Fund (IMF) finds that the country will continue to see very rapid growth. In fact, the financial...
News

Hess targetting almost US$8 billion in annual earnings powered by Guyana’s mega oil-projects

OilNOW -
With multiple phases of developments coming online in Guyana's Stabroek Block and a robust inventory of high-return drilling locations in the US Bakken, Hess Corporation says it is projected to rake in almost US$8 billion in annual earnings by...
News

IEA says Guyana will achieve explosive oil supply growth through 2028 

OilNOW -
By 2028, Guyana is expected to provide approximately 1.3% of global oil demand. By then, the ExxonMobil-led consortium holding the Stabroek Block will have invested approximately US$54 billion to develop projects offshore the South American country. While global oil demand...
Business Wire

Cool Company Ltd. Q2 2023 Business Update

HAMILTON, Bermuda--(BUSINESS WIRE)--This release includes business updates and unaudited interim financial results for the three ("Q2", "Q2 2023" or the "Quarter") and six months ("1H 2023") ended June 30, 2023 of Cool Company Ltd. ("CoolCo" or the "Company") (NYSE:CLCO...
Business Wire

Royalty Pharma and Ferring Pharmaceuticals Enter into US $500 million Royalty Agreement for New Intravesical Gene Therapy Adstiladrin® (nadofaragene firadenovec-vncg)

Ad hoc announcement pursuant to Art. 53 LR Royalty Pharma to pay Ferring $300 million upfront and a potential $200 million milestone payment in exchange for royalties on the sales of Ferring’s intravesical gene therapy Adstiladrin® (nadofaragene firadenovec-vncg) Transaction provides Ferring...
News

Guyana’s oil production could close 2023 over 500,000 bpd 

OilNOW -
Guyana’s Liza Phase Two Project is expected to see a 30,000 barrel-per-day increase by the year’s end. This was recently revealed by Hess Corporation’s Chief Operating Officer (COO), Greg Hill. The Hess official noted that the Liza Unity floating production,...
News

Uaru SURF contract among Saipem’s biggest for Q2 as revenues soar to €5.3 billion

OilNOW -
Oilfield giant, Saipem recorded €5.3 billion in revenues for the second quarter of 2023, bolstered by several mega contracts including one for ExxonMobil Guyana’s massive Uaru development. That figure is up from €4.2 billion in the same period last...
News

Payara project will hit 220,000 bpd around five months after first oil

OilNOW -
Guyana’s third oil development, Payara, is expected to see a ramp-up to 220,000 barrels of oil per day (bpd) within a five-month period after production gets underway, says Chief Operating Officer (COO) of Hess Corporation, Greg Hill. During the company’s...
News

Exxon confirms Guyana production to hit 600,000 barrels-a-day next year

OilNOW -
Come 2024, Guyana’s daily production is set to ramp up to 600,000 barrels of oil per day. This was recently confirmed by ExxonMobil Guyana's Production Manager, Mike Ryan.  On the latest episode of Access ExxonMobil Guyana, Ryan shared that this...
Business Wire

Technip Energies Financial Results First Half 2023

Raising adj. rec. EBIT margin outlook from 6.7% - 7.2% to 7.0% - 7.5% supported by robust first half profitability Adjusted order intake of €9.0bn driven by major LNG award and TPS momentum; record adjusted backlog of ~€19bn Exit from Arctic...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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