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Guyana, Brazilian crude set to be in head-to-head competition says S&P Global analyst

OilNOW -
S&P Global Commodity Insights’ oil pricing and news expert Patrick Harrington sees Guyana and Brazil’s crude going toe-to-toe when Guyana’s production hikes.  “...as Guyana’s production ramps up, Guyana and Brazilian crude will be in real head-to-head competition,” Harrington shared in...
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Investor in new Exxon shorebase supporting major Demerara bridge project

OilNOW -
Azruddin Mohamed, a principal at Mohamed's Enterprise and an investor in the Vreed-en-Hoop Shore Base Inc. (VEHSI), announced on August 4 key support for the construction of the new Demerara Crossing. The project is one of the most important...
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Local Content Secretariat setting up unit to tackle ‘rent-A-citizen’ practice – Pertab

OilNOW -
Guyana’s Local Content Secretariat (LCS) will be setting up a new unit to address what is commonly referred to as 'rent-a-citizen', a practice where foreign investors use Guyanese nationals and/or businesses as mere fronts in order to circumvent provisions...
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Yinson Production secures US$230 million loan for FPSO Maria Quiteria in Brazil’s Jubarte Field

OilNOW -
Malaysian floater specialist, Yinson Production, has successfully secured a US$230 million loan to support the construction of a floating production, storage, and offloading vessel (FPSO) designated for the Jubarte field offshore Brazil. The financial deal was facilitated by infrastructure...
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Founder of Guyana’s first 100% locally-owned manpower services company steps down

OilNOW -
In a pivotal move that ushers in a new chapter for Strategic Recruitment Solutions Inc. (SRSGY), Kerri Gravesande-Bart, the trailblazing leader behind the brand, has revealed her decision to sell her shares and step down from her role as...
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First half of 2023 sees over US$300M in local value capture for Guyana; jobs totaling 3,348 – Pertab

Shikema Dey -
Local Content in Guyana has been performing stellarly, according to new data released by the Local Content Secretariat (LCS).  Director, Dr. Martin Pertab announced on August 10 that as of June 30, 2023, Guyana has managed to retain US$313 million...
News

GY$5B secured to advance Gas-to-Energy project in Guyana 

OilNOW -
Approval was granted on August 9 to the Guyana government for the additional GY$5 billion in funding to advance its Gas-to-Energy project.  Guyana’s Finance Minister, Dr. Ashni explained to the House that the sum will be used mainly for the...
News

Noble projects Guyana-Suriname basin will need 6-7 ultra deepwater rigs through 2024

OilNOW -
The energy landscape of the Guyana-Suriname Basin is evolving at a rapid pace, with drilling activity set to intensify in the coming years. Noble Corporation projects the need for "6 to 7 ultra-deepwater (UDW) rigs through 2024, with potential...
News

T&T, Guyana firms set to deliver US$4 million chemical storage facility and laydown yard

OilNOW -
The rapidly developing oil and gas sector in Guyana is increasing the need for enhanced infrastructure and new services. Responding to this demand, Avocat Guyana Holdings Inc. (AGHI) has proposed the creation of a chemical storage facility and laydown...
News

Aker Solutions, SLB, Subsea7 get greenlight for tech venture, eye Q4 2023 closure

OilNOW -
A highly anticipated joint venture between Aker Solutions, SLB (Schlumberger), and Subsea7 has cleared the regulatory hurdles, marking a significant step forward towards its targeted fourth-quarter 2023 closing. The proposed collaboration, which aims to revolutionise subsea production economics, has...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

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