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Ali assumes CARICOM chairmanship, vows regional development and peace

OilNOW -
In a shift of leadership within the Caribbean Community (CARICOM), Guyana officially took the reins of the rotating chairmanship on January 1, marking the commencement of a six-month term dedicated to propelling regional development and fostering prosperity across member...
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Goldwyn warns Venezuela elections may fall short of international standards

OilNOW -
David Goldwyn, President of Goldwyn Global Strategies LLC and former U.S. State Department’s special envoy for international energy affairs, expressed reservations regarding Venezuela’s forthcoming elections, that they may not align with international standards for fairness. Goldwyn’s insights, shared in...
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Guyana takes up seat on UN Security Council

OilNOW -
Guyana has taken its seat as an elected member of the United Nations Security Council for a two-year term 2024-2025, the Foreign Affairs Ministry said Tuesday.  The country took up the role alongside other newly elected members, including Algeria, Republic...
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Guyana withdrew US$1 billion from oil fund for 2023

OilNOW -
Guyana’s Ministry of Finance said it completed withdrawals from the Natural Resource Fund for the fiscal year 2023.  The National Assembly had approved US$1.002 billion (approximately GY$208.4 billion) to be withdrawn in support of the 2023 national budget. The funds...
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Exxon’s fibre optic cable has landed; command centre for completion this year

OilNOW -
ExxonMobil Guyana’s fibre optic cable has landed, Guyana Vice President Bharrat Jagdeo said during a December 28 press conference. Ongoing construction of an offshore command centre at Ogle, East Coast Demerara, is expected to conclude this year. The installation of...
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Seadrill secures US$1.1 billion in contracts with Petrobras for drillships in Brazil

OilNOW -
Offshore drilling giant Seadrill Limited has clinched fixed-term contracts from Petrobras, Brazil's state-controlled oil company, for its drillships, West Auriga and West Polaris.  These contracts, acquired through a rigorous competitive bidding process, have a duration of 1,064 days and are...
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SBM Offshore-built FPSO goes into production at Brazil’s Mero field

OilNOW -
State-owned Brazilian multinational corporation Petrobras announced on Sunday that oil production got underway at the Sepetiba platform, in the Mero field, Libra block, in the pre-salt of the Santos Basin. The company said this is Mero's third production system, with...
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Guyana Oil & Gas: What to look forward to in 2024

Kemol King -
The year 2024 is expected to welcome a massive expansion of operations in Guyana’s oil and gas industry. New blocks will be awarded, oil developments will advance, and the prospect of gas development will shift into focus.  Here is a...
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Guyana targeting free university education, increased food production and boosting defense capabilities in 2024 – President

OilNOW -
The world's fastest growing economy, powered by massive oil reserves off its coast, is targeting major development projects in 2024. ...
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Expro seeks bids for deepwater rig sling and shackle inspection

OilNOW -
Expro, a global leader in tubular services and well solutions, has requested expressions of interest (EOI) for combined ‘sale and service’ related to sling and shackle inspection on deepwater drilling rigs. This is meant to support its work in...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and 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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