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Jagdeo not surprised Venezuela violated Barbados agreement

Shikema Dey -
Guyana’s Vice President, Bharrat Jagdeo, is not surprised that the Nicolas Maduro regime has violated the Barbados agreement, which outlines requirements for free and fair elections in the South American country. After all, Maduro does not accept the sanctity...
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Despite anti-fossil fuel push, Jagdeo ‘strongly’ expects U.S. to grant Guyana loan for gas project

OilNOW -
In the face of environmental activism, Guyana's Vice President Bharrat Jagdeo remains 'strongly' optimistic about securing a US$660 million loan from the United States EXIM Bank for the country's Gas-to-Energy project. This project aims to transform Guyana's energy sector...
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Sale of two December cargoes to add US$149 million to Guyana oil fund in Q124

OilNOW -
Following earnings of US$1.617 billion in 2023, the Bank of Guyana said it expects Guyana’s oil fund (the Natural Resource Fund) to receive payments for two lifts of oil produced in December. The lifts, each approximately a million barrels of...
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Petrobras completes Pitu Oeste well drilling, identifies hydrocarbons in Potiguar basin

OilNOW -
Brazil's Petrobras announced the successful completion of drilling at the Pitu Oeste exploratory well in the Potiguar basin, located in the Equatorial Margin. It is one of five promising offshore regions that Petrobras aims to investigate as part of...
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U.S. Air Force General on Guyana visit – embassy

OilNOW -
U.S. Air Force Major General Evan L. Pettus, 12th Air Force (Air Forces Southern) Commander, will visit Guyana from January 31 – February 2, the U.S. Embassy in Guyana said in a Feb. 1 release.  The embassy said, “12th Air...
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Payara reached 220,000 b/d production target three months ahead of schedule

OilNOW -
Hess Corporation said in its Q4 2023 earnings update that the Payara project reached its oil production target of 220,000 barrels per day (b/d) in January.  Having started production in November last year, Payara’s production ramp-up is three months ahead...
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Guyana expects Exxon to apply for seventh offshore development in 2024

OilNOW -
The government of Guyana expects the Exxon-led Stabroek block co-venturers to propose a seventh offshore development in 2024. Minister of Natural Resources, Vickram Bharrat said the government budgeted GY$100 million (approximately US$480,000) to review the application.  “We have dealt with...
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Africa, Latin America lead surge in high-impact drilling activities amid optimism for 2024 – Rystad

OilNOW -
The global upstream industry is eyeing a rebound in high-impact oil and gas drilling in 2024, with Africa and Latin America poised to be the driving forces behind these activities. According to Rystad Energy, a total of 36 high-impact...
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Guyana production will hit 600,000 b/d by start of energy conference in February – Bharrat

OilNOW -
Guyana's Minister of Natural Resources, Vickram Bharrat, announced on Jan. 29, that the country is poised to reach an average of 600,000 barrels per day (b/d) in oil production by the end of February.  Bharrat commented during a press conference...
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Could Biden’s freeze on LNG affect Guyana’s US$660M loan request from the US?

Shikema Dey -
President Joe Biden hit pause on LNG project approvals in the U.S., under pressure from climate activists. Talk of widening that net globally has emerged, to include projects seeking U.S. support. A Jan. 26 article by The New York Times...
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Shell approves Aphrodite Gas Project in Trinidad and Tobago

Shell Trinidad and Tobago Ltd. has taken a Final Investment Decision (FID) on the Aphrodite gas project in the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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