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IMF projects 26.6% growth for Guyana in 2024, warns of overheating risk

OilNOW -
The International Monetary Fund's (IMF) Article IV Consultation Report from December 2023 forecasts 26.6% growth in Guyana's economy for 2024, following a 38.4% projected expansion in 2023.  While the IMF’s report was positive, it warned the economy could become overheated,...
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Exxon’s fibre optic cable has landed; command centre for completion this year

OilNOW -
ExxonMobil Guyana’s fibre optic cable has landed, Guyana Vice President Bharrat Jagdeo said during a December 28 press conference. Ongoing construction of an offshore command centre at Ogle, East Coast Demerara, is expected to conclude this year. The installation of...
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SBM Offshore seeking contractor for underwater survey on Liza Destiny, Unity FPSOs

OilNOW -
Guyana Deep Water Operations Inc. (GDO), a subsidiary of SBM Offshore, has issued a request for information (RFI) seeking technical expertise from potential suppliers. The RFI aims to secure a contractor for the execution of the ‘underwater in lieu...
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MODEC, Toray Industries pioneer innovative technique for FPSO and FSO corrosion repair

OilNOW -
MODEC, in collaboration with Toray Industries, has unveiled a carbon fiber-reinforced plastic (CFRP) patch technique designed specifically for repairs on floating production, storage and offloading (FPSO) and floating storage and offloading (FSO) systems. As part of its FPSO and FSO...
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69 Lindeners graduate from programmes supported by Exxon, Hess & CNOOC

OilNOW -
The Greater Guyana Initiative (GGI) has funded electrical installation and welding and fabrication programmes through the Linden Technical Institute (LTI) in partnership with the Ministry of Education, the Council for Technical and Vocational Education Training (C-TVET) and LearnCorp International. The...
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SBM Offshore set to begin front end engineering design for Exxon’s 6th Guyana FPSO

OilNOW -
Dutch floater specialist, SBM Offshore announced on Friday that it has been awarded contracts to perform front end engineering and design (FEED) for a floating production, storage and offloading vessel (FPSO) for ExxonMobil’s Whiptail development project in Guyana. Following FEED...
News

SBM Offshore-backed women in football programme launched to empower, educate Guyanese girls

OilNOW -
In a significant initiative aimed at empowering and educating young Guyanese girls, the Vurlon Mills Football Academy, in partnership with SBM Offshore Guyana, has unveiled the Women in Football Development Programme. It is slated to provide professional football coaching,...
News

CGX will have to keep selling to continue its Guyana work

Kemol King -
CGX Energy has found itself in a position where selling assets has become an apparent strategy for financial sustenance. The company's 2023 quarterly financial report shines a dazzling light on this trajectory. A significant development, in this regard, is the...
News

Colombia’s fiscal reforms can push investors to Guyana basin – WoodMac

OilNOW -
A recent analysis by energy consultancy firm Wood Mackenzie indicates that the oil sectors of the burgeoning Guyana-Suriname basin could reap benefits from fiscal reforms introduced by Colombia's newly elected President, Gustavo Petro. The Colombian president has launched an ambitious...
News

Guyana can shift politics of energy in LATAM, offer U.S. preferred alternative to Venezuela crude – Goldman Sachs snr. executive

OilNOW -
Geopolitical swing states are critical to the world economy and balance of power, but they don’t have the capacity by themselves to drive the global agenda, at least for now, according to a recent article by Jared Cohen, President...
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Saipem targets local content growth in logistics, fabrication for Suriname oil project

PARAMARIBO, SURINAME – Saipem is setting the stage for major local content contributions in Suriname through its work on...

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