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Early delivery of Payara pushing Exxon 2023 CAPEX budget

OilNOW -
Chief Financial Officer for ExxonMobil Corporation, Kathryn Mikells, said that the early delivery of the Payara project is the cause of the spike in ExxonMobil’s 2023 CAPEX budget. The company recently reaffirmed its commitment to spend over US$100 billion in...
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EPA Head Kemraj Parsram: A level-headed warrior in Guyana’s oil development story

OilNOW -
With 11 billion barrels of oil equivalent (boe) unlocked in the Stabroek Block, there is an urgent need for Guyana to be outfitted with facilities to support the development of this massive resource base. These include laydown yards, deep water ports,...
News

Guyana oil sector on track for over 100% growth, 100 million barrels output in 2022

Kemol King -
Guyana’s oil economy is expected to grow in 2022, by far more than 100% over the prior year. First oil at the Liza Unity floating production, storage, and offloading (FPSO) unit and optimisation of the Liza Destiny FPSO resulted...
News

Guyana, Brazil will have to brace for costlier deepwater projects

Kemol King -
In a recent analysis of deepwater developments, Wood Mackenzie said that supply chain constraints remain a concern. And this spells difficulty for operators under pressure to increase drilling and production at a time when energy markets have been sent...
News

Strong institutions, citizens’ innovative skills key to Guyana unlocking oil potential – Professor Haynes

OilNOW -
As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens. Making this point during...
Energy Insights

Seven women in government hold power to use oil revenues for a visible leap in Guyana’s social services

OilNOW -
Crowned “the fastest growing economy in the world”, on account of its spectacular Stabroek block discoveries, the Guyana government shoulders the responsibility of ensuring the growth is converted into development. It must, at the very least, strengthen its human and institutional...
News

All agreements, policies for Gas-to-Energy project will be provided to Parliament, says Bharrat

OilNOW -
Guyana's Natural Resources Minister, Vickram Bharrat has assured that the National Assembly will be furnished with all agreements signed for the US$2.2 billion Gas-to-Energy (GTE) project. Mr. Bharrat provided this assurance as part of a written response to a question...
News

Hess first oil company to enter three-quarter billion USD carbon credits deal with Guyana

Kemol King -
Stabroek Block stakeholder, Hess Corporation, has committed to purchasing US$750 million in carbon credits from Guyana, kicking off a major low-carbon initiative by the government, to generate revenue from forest conservation. An event to commemorate the agreement was held at...
News

ADNOC invests US$150 billion to boost reserves

OilNOW -
Abu Dhabi National Oil Company (ADNOC), one of the world’s leading energy producers, says it will spend a whopping US$150 billion to boost reserves over the next five years to meet the world’s growing energy needs. The massive budget was approved on...
News

SBM Offshore engaging students on its operations, career opportunities

OilNOW -
SBM Offshore met with fourth and fifth form students at the Corentyne Comprehensive High School in Berbice last Friday to apprise them of the company’s role in Guyana’s oil sector, and the careers available in the industry. This is the...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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