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Amidst global disruptions, Guyana is proverbial rose in economic garden – private sector chair

OilNOW -
Guyana has suffered from brain drain for a very long time. The bulk of these migrants have gone on to live in the United States and Canada primarily, for better opportunities. But with the discovery of oil and gas resources,...
Exploration

Equinor to go after Namibia-like exploration success offshore Argentina

OilNOW -
Equinor, the Norwegian state-owned multinational energy company, operates a Block offshore Argentina called CAN-100, which the country hopes later this year will yield a discovery as successful as Namibia’s. Rystad Energy's Senior Vice President and Head of Latin America, Schreiner...
News

IMF will not be calling the shots on National Oil Company for Guyana- Vice President

OilNOW -
While the International Monetary Fund (IMF) has advised that a business case does not exist for a National Oil Company (NOC) in Guyana, Vice President, Dr. Bharrat Jagdeo firmly asserts that the financial body does not decide or determine what is...
News

Guyana still intent on establishing Petroleum Commission – VP

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo has assured that the government has every intention of establishing a Petroleum Commission. The VP, during a press conference on Friday, did not indicate a definitive timeline when the Commission would be instituted but...
News

Exxon reports over US$5 billion profit despite huge impairment over Russia exit

OilNOW -
ExxonMobil Corporation on Friday announced an estimated first-quarter 2022 earnings of US$5.5 billion compared with US$8.9 billion in the fourth quarter of 2021. The company also reported a US$3.4 billion impairment which it said is associated with its planned...
News

Guyana’s September auction will not include onshore blocks – VP

OilNOW -
Guyana’s upcoming oil blocks auction will not include any onshore acreage, Vice President Dr. Bharrat Jagdeo told reporters during a press conference on Friday. Government needs more time to determine whether the auction would disenfranchise nearby communities. “Onshore… we have a...
News

Guyana removes cement tax to facilitate oil-driven construction boom

OilNOW -
Guyana’s Minister of Finance, Dr. Ashni Singh on Friday announced the removal of Value Added Tax (VAT) on cement, responding to the need to support the construction boom the South American nation is experiencing. Effective April 29, the government’s expectation...
News

Guyana on track to hit 360,000 barrels per day by third quarter

OilNOW -
Guyana’s prolific Stabroek Block continues to churn out successful results for operator ExxonMobil (XOM) and its partners Hess and CNOOC, and by the third quarter  2022, production is expected to ramp up significantly. During the oil major’s first quarter earnings...
News

Guyana, Brazil & West Africa pushing billion-dollar subsea opportunities for TechnipFMC

OilNOW -
With a robust market outlook for the remainder of 2022, TechnipFMC’s subsea opportunities are being led by Guyana, Brazil, and West Africa with massive oil and gas projects set to bring in almost US$20 billion. TechnipFMC’s Chairman and Chief Executive...
News

Guyana can leapfrog other economies with renewables transition – US Ambassador

OilNOW -
United States Ambassador to Guyana, Sarah-Ann Lynch told a recent energy roundtable that the South American country is in a unique position in the race to transition to renewable energy sources, due to its small size and relatively low energy demand. The...
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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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