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Guyana to explore potential for crude sales to India only at competitive rates – Jagdeo

OilNOW -
Guyana is set to sign a memorandum of understanding (MoU) with India, initiating a potential pathway for India to diversify its oil imports by considering the purchase of crude from the South American country. This development follows a recent...
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Exxon kicks off 2024 Stabroek campaign with resumed drilling at Bluefin well

OilNOW -
ExxonMobil Guyana has recommenced exploration drilling operations at the Bluefin-1 well site within the Stabroek Block. This continuation of exploration activities was announced in a notice to mariners issued by Guyana's Maritime Administration Department (MARAD). The Stena Drillmax has been...
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Well data will help Opposition solidify position on ringfencing – Low

Shikema Dey -
Elson Low, an Economic Advisor in Guyana's main Opposition Party, says access to more information relating to the wells at the prolific Stabroek Block would help to better solidify the APNU+AFC coalition's position on the matter of ringfencing. ...
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Gas-to-Energy contractor, Australian firm among four vying to develop Amaila hydropower for Guyana

OilNOW -
The move to develop the Amaila Falls hydropower project in Guyana started with four companies submitting bids to the National Procurement and Tender Administration Board in December 2023. The project, aiming to deliver 165 megawatts (MW) of clean energy,...
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Engineer students from University of Guyana being absorbed by oil companies even before graduation – Vice Chancellor 

OilNOW -
The need for engineers in Guyana’s booming oil industry has led to students from the country’s premier university being absorbed by companies even before they graduate.  Vice Chancellor (VC) of the institution, Dr. Paloma Mohamed shared in a recent discussion...
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Exxon, Chevron led takeover activity in 2023, more deals expected in 2024 – WoodMac

OilNOW -
Wood Mackenzie's recent analysis revealed a shift in the oi and gas industry, characterized by a wave of consolidation, which it said is poised to persist through the energy transition phase.  In a Jan. 9...
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Westwood forecasts varied offshore rig dayrates in 2024 after record highs in 2023

OilNOW -
Westwood Global Energy Group reported a steady increase in dayrates for jackups, semisubmersibles, and drillships throughout 2023, with the latter two types seeing dayrates reaching or exceeding US$500,000 per day, excluding additional services. Westwood noted that the surge in rates,...
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TotalEnergies, APA drilled 14 wells in block 58 before hitting jackpot with Sapakara South, Krabdagu – Staasolie 

OilNOW -
Suriname’s state oil company - Staatsolie - revealed that TotalEnergies and APA Corporation drilled 14 wells in Block 58 before the big wins with the Sapakara South and Krabdagu discoveries.  Both reservoirs underpin Suriname’s first offshore development, pegged at approximately...
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Prosperity FPSO achieves background flare in record 39 days

OilNOW -
Guyana’s third oil production vessel - Prosperity - has achieved background flare in a record 39 days, according to an announcement by ExxonMobil Guyana Limited (EMGL) on Wednesday.  EMGL said the accomplishment marks a significant milestone in the company’s commitment...
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World Bank projects Guyana alone will nearly double Caribbean region’s growth

OilNOW -
The World Bank's Global Economic Prospects Report, published in January 2024, has projected that Guyana's economy is set to grow 38.2% in 2024. This figure not only surpasses the International Monetary Fund's (IMF) December projection of 26.6% but also...
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Applications open for GTTCI Instructor roles to support offshore oil training

The Government of Guyana is inviting applications for eight Instructor positions at the new Guyana Technical Training College Incorporated...

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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