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Guyana seeks Independent Administrator for its next EITI report

OilNOW -
The Guyana government is actively seeking an independent administrator for the preparation of its fifth Extractive Industries Transparency Initiative (EITI) report. The anticipated report will cover the fiscal year of 2021 and is due for publication in December 2023. This...
News

Global oil demand to remain above 90 million b/d as Guyana production soars

OilNOW -
For decades, the need for oil has continued to grow, fueled by an increasing global population and the pursuit of economic growth. Despite the push towards a less carbon-intensive economy, society's insatiable appetite for personal mobility, consumer goods, and...
News

Nigeria Petroleum Authority introduces new regulations to boost safety, environmental practices in oil industry

OilNOW -
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the introduction of four new regulations aimed at governing the activities of the midstream and downstream sectors of the country’s petroleum industry. The new regulations were introduced in line...
News

Guyana expects over 700 technical, skilled oil and gas hires this year – Local Content Secretariat

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According to figures released by Guyana’s Local Content Secretariat (LCS), for 2023, over 700 hires are expected for the country’s oil and gas sector. The hires range from the technical and skilled categories to Information Technology (IT) and Health.  A...
Exploration

OSV Horn Island vessel leading deepwater development at Liza Field

OilNOW -
The OSV Horn Island vessel will be continuing deepwater development at Guyana’s Liza Field located in the offshore Stabroek Block.  A recent notice by the Maritime Administration Department (MARAD) outlined that activities will conclude at the site on December 31.  The...
News

With a population roughly that of Nottingham, Guyana on the verge of producing more oil per person than anywhere else in the world –...

OilNOW -
Based on current output across the region, Guyana is expected to become the second-largest oil producer in South America after Brazil, with its oil production projected to reach 1.2 million barrels per day (bpd) by 2027. When it reaches...
News

Haliburton unveils Obex  EcoLock® Pack to safeguard well casing integrity

OilNOW -
Halliburton has unveiled its latest innovation, the Obex EcoLock® compression-set packer, aimed at addressing the challenge of sustained casing pressure (SCP) in the oil and gas industry.  The company announced on July 2 that the Obex EcoLock packer is specifically...
News

Shell selling interest in Indonesia’s Masela Block for $325 million in cash

OilNOW -
Shell Upstream Overseas Services Limited has agreed to sell its participating interest in Indonesia’s Masela Production Sharing Contract to Indonesia’s PT Pertamina Hulu Energi and PETRONAS Masela Sdn. Bhd. The sale concerns SUOS’ participating interest of 35% in the...
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...
News

Over US$10 billion in Stabroek Block investments recovered so far

Kemol King -
ExxonMobil, Hess and CNOOC have managed to recover more than US$10 billion in investments so far, to explore and develop the prolific Stabroek Block.  The Stabroek Block Production Sharing Agreement (PSA) allows the partners to recover investments by taking up...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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