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Local companies urged to join forces or risk losing out on opportunities in oil sector

OilNOW -
Guyana’s Natural Resources Minister, Vickram Bharrat recently appealed to members of the business community to cease being a vessel for the “crab-in-a-barrel” mentality. This phrase describes a group of like-situated people who hurt each other in attempting to get...
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Guyana issues third notification to Parliament of all revenues paid into oil account

OilNOW -
The Guyana government on Monday issued its third notification to the National Assembly of all revenues deposited into the Natural Resource Fund (NRF). This notification was presented by Senior Finance Minister, Dr. Ashni Singh for the period July 1, 2022,...
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Payara project 88% complete, Yellowtail hull to arrive in Singapore early 2023

OilNOW -
Development work for two large ExxonMobil-led Guyana projects - Payara and Yellowtail - are progressing. Hess Corporation, a 30% stakeholder in the Stabroek Block where both projects will be operationalized, provided an update this week. The projects will add nearly...
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Six Bourbon vessels to support Stabroek Block operations until end of decade

OilNOW -
Offshore marine services company – Bourbon Guyana Inc. – currently has six vessels supporting oil and gas operations offshore in the Stabroek Block and those vessels will remain until the end of the decade. Managing Director of the Company, Edward...
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Exxon produced 10.989 million barrels of oil offshore Guyana in September

Kemol King -
ExxonMobil’s Guyana projects, Liza Phases 1 and 2, produced 10.989 million barrels of crude for the month of September 2022. This averaged approximately 366,310 barrels of crude per day (bpd). In comparison, the total August production was 11.309 million barrels...
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US$493M payout from Guyana’s third quarter oil sales, royalties gazetted

OilNOW -
In keeping with a transparency mandate outlined in the Natural Resource Fund Act 2021, the government of Guyana has published in its official gazette, the receipts of funds into the Natural Resource Fund. According to the data, the government received...
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Gov’t to identify legal, financial team to support catering consortium for oil sector market

OilNOW -
As the Ministry of Natural Resources reconvened with major Guyanese caterers from across the country, Minister of Natural Resources Vickram Bharrat has committed to identifying a team to support the birth of the caterer consortium. During the second meeting Bharrat...
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New local catering consortium to get tax waivers for Guyana oil sector market

OilNOW -
Guyana’s government is working to see major local caterers tap into the multi-million-dollar catering industry for the nation's petroleum sector. To achieve this, the Minister of Natural Resources Vickram Bharrat; Director of the Local Content Secretariat Martin Pertab and other...
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Abu Dhabi, Norway, T&T NOCs among 14 vying to market Guyana crude

OilNOW -
As the Guyana government looks to market its share of crude from the Liza 1 and 2 developments in the Stabroek Block, 14 companies have tendered bids to secure this crude marketing project. The successful company will be taking over from Aramco...
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Rising flows from Guyana’s oil fields continue to shore up UK shortfall

OilNOW -
Russian seaborne crude exports have fallen to a 12-month low as a ban by the European Union along with price caps remain on the horizon. The shortfall in supply across Europe is being shored up by alternative sources of...
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Key facts about Chevron, the latest oil heavyweight in Guyana’s Stabroek Block 

Chevron Corporation has officially stepped into Guyana’s energy landscape through its recent acquisition of Hess Corporation, one of the...

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