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SLB, Northern Lights, Microsoft to collaborate to advance carbon capture and storage

OilNOW -
SLB and Northern Lights Joint Venture (NL) have marked a milestone in the carbon capture and storage (CCS) sector by signing a memorandum of understanding (MoU) with Microsoft. This collaboration aims to optimize integrated cloud-based workflows for the operation...
News

Commonwealth Group stands with Guyana, calls on Venezuela to respect border status quo

OilNOW -
The Commonwealth Ministerial Group on Guyana (CMGG), which held an emergency meeting on December 11, has reaffirmed its support for Guyana in the territorial controversy with Venezuela. The meeting, convened by Commonwealth Secretary-General Patricia Scotland KC, was in response...
News

Plagued by challenges, CGX promises first oil offshore Guyana by 2030

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CGX Energy and Frontera Energy, partners in the exploration of the Corentyne block offshore Guyana, have announced their strategic plan to commence oil production by 2030. This announcement came during a public technical presentation on December 11, 2023, where...
News

Guyana receives US$90 million for 14th oil lift this year

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In November, Guyana’s oil fund received payment for the 14th lift of profit oil amounting to approximately US$90 million (GY$18.77 billion).  Profit oil payments for the year accumulate in excess of US$1.1 billion. Government expects three more. Royalties, not received...
News

69 Lindeners graduate from programmes supported by Exxon, Hess & CNOOC

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The Greater Guyana Initiative (GGI) has funded electrical installation and welding and fabrication programmes through the Linden Technical Institute (LTI) in partnership with the Ministry of Education, the Council for Technical and Vocational Education Training (C-TVET) and LearnCorp International. The...
Opinions

Lessons learned for Guyana (Part 2) – The neighboring sister, Suriname

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By Cristina Caus - OilNOW Bonded by a resemblant fate, Suriname and Guyana are more than just neighbors divided by the Courantyne/Corentyne River. Once one territory, they lived a similar experience while separated and colonized by the British and Dutch...
News

‘We are not going anywhere’, says Exxon on its Guyana operations

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U.S. oil major ExxonMobil reaffirms it has no intentions of leaving Guyana. “We are not going anywhere,” ExxonMobil Guyana said on Monday, December 11. Having discovered over 11 billion barrels of oil-equivalent offshore Guyana, and producing since 2019, ExxonMobil said “Our...
Exploration

Exxon focusing on developing oil resources in Guyana; no financial backing in play for border controversy  

OilNOW -
ExxonMobil remains focused on developing the vast hydrocarbon resources offshore Guyana in keeping with the government's objective of moving these projects forward in a timely manner. The U.S. multinational says it is not playing a role in providing financial...
News

South America’s newest producer sits among top nations for oil reserves per capita – IMF report highlights 

OilNOW -
The International Monetary Fund (IMF) has underscored Guyana's significant position among countries with the highest levels of oil reserves per capita worldwide, presenting a promising economic outlook compared to its historical trajectory. Commercially recoverable petroleum reserves in Guyana now exceed...
News

Keel-laying done for SBM Offshore’s fifth Fast4Ward vessel

OilNOW -
Shanghai Waigaoqiao Shipbuilding (SWS) has reportedly completed the keel-laying process for the fifth Fast4Ward floating production, storage, and offloading (FPSO) hull, just seven months shy of the initial steel cutting for the vessel. The FPSO was constructed based on SBM...
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Linden-Mabura road to soon link South America’s oil giants, boost trade and integration

Guyana’s Linden to Mabura Hill road project will be spotlighted at the Caribbean-Brazil Summit on June 13 in Brasilia....

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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