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Guyana may use bridge financing until US EXIM Bank loan comes in for Gas-to-Energy project

OilNOW -
The Gas-to-Energy project, a critical development in Guyana, is steadily advancing. Amidst this progress, Guyana’s Vice President, Dr. Bharrat Jagdeo, has mentioned the possibility of using bridge financing to sustain the project until the awaited loan from the United...
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ExxonMobil not inclined to purchase Guyana’s carbon credits – Jagdeo

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Guyana Vice President Dr. Bharrat Jagdeo has revealed that ExxonMobil has shown no interest in purchasing Guyana’s carbon credits. When questioned on the issue, Jagdeo remarked, “We raised this matter with them. They have not been positively inclined to...
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Baker Hughes secures major LNG contract with Venture Global

OilNOW -
Baker Hughes, a leader in energy technology, has clinched a substantial contract to furnish a modularised liquefied natural gas (LNG) system and power island. This contract, which will be recorded in Q3 2023, stems from an expanded master equipment...
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Guyana’s oil boom examined in Harvard International Review

OilNOW -
A recent Harvard International Review journal entry by William Mao has shed light on the potential for Guyana to harness its newfound oil wealth for sustainable development. While concerns loom over the challenges posed by the oil boom, Mao’s...
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Guyana’s Bureau of Statistics to launch nationwide economic survey in October

OilNOW -
Guyana’s Bureau of Statistics is set to commence a National Economic Survey starting from Wednesday, October 11, 2023. This survey is projected to span over two months, with its primary objective being to extract detailed data from businesses dispersed...
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EMGL seeks deepwater ROV support for key offshore operations in Guyana

OilNOW -
ExxonMobil Guyana Limited (EMGL) has made a public Request for Information (RFI), inviting proposals for Deepwater Subsea Remote Operated Vehicle (ROV) services to support its operations in the Stabroek Block, Guyana. EMGL has played a pivotal role in the country's...
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African country looking to mimic Guyana success concludes fifth bid round

OilNOW -
The Petroleum Directorate Sierra Leone (PDSL) has announced the successful closure of the Nation’s Fifth Offshore Petroleum Licensing Round. The bidding process terminated promptly at 12:00 pm GMT on Friday, September 29, 2023. PDSL confirmed that several applications were received,...
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Global oil prices projected to drop to $60 by 2027; slowing demand growth to blame – Norway firm

OilNOW -
Oil analysts at Norway-based Rystad Energy have projected that global crude oil prices could drop to approximately US$60 per barrel by 2027 as demand growth slows, which could mark a significant decline from next year's peak price.  This forecast provides...
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Guyana to seek new proposals for 165MW hydro project in two weeks

OilNOW -
Guyana's Vice President, Dr. Bharrat Jagdeo, has announced the government's plans to reissue a request for proposals (RFP) for the Amaila Falls hydropower project in a span of two weeks. This move comes after the initial effort to secure...
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Shadow oil minister says selective application of new contract terms blocking oil development

Kemol King -
Guyana’s shadow oil minister, David Patterson, has complained that the application of Guyana’s new fiscal terms to offshore contracts, among other things, has created an uneven playing field. This issue, Patterson pointed out during an October 6 press conference,...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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