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Exxon seeking approval for 6th Guyana project, to push output over 1.2 million bpd

Kemol King -
ExxonMobil Guyana has asked Guyana’s Environmental Protection Agency (EPA) to commence an authorisation process for its sixth project offshore the South American country; the Whiptail development. The Whiptail- 1 discovery was announced in July 2021. The Whiptail-1 well encountered 246...
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Study confirms Guyana would remain carbon sink at peak Stabroek Block operations

Kemol King -
A new Environmental Impact Assessment (EIA) published by Guyana’s Environmental Protection Agency (EPA) has confirmed that even with ExxonMobil’s aggressive development plans, the country’s carbon sink status would remain. Basically, Guyana’s forests remove a lot more greenhouse gas (GHG) emissions...
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Guyana and India discuss long-term sale agreement for Payara crude

OilNOW -
Natural Resources Minister, Vickram Bharrat, confirmed on Friday that Guyana and India are exploring a long-term agreement on crude oil purchase as Guyana prepares to bring the Payara Project online.  A statement from the office of India’s Minister of Petroleum...
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Eni grants Snam interest in pipelines connecting Algeria and Italy

OilNOW -
Eni and energy infrastructure company, Snam, has closed a deal for the latter to acquire 49.9% of the equity interest in companies operating gas pipelines connecting Algeria to Italy. The scope of the transaction includes the onshore gas pipelines running...
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Installation of structure for berthing ships begins at landmark Guyana port project

OilNOW -
NRG Holdings Inc. has begun the installation of a quay wall structure on the artificial island in the Demerara River where the Vreed-en-Hoop Shore Base will be. A quay wall is an earth-retaining structure which is used to dock floating vessels and...
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More than a billion barrels discovered at Stabroek Block in 2022

Kemol King -
Westwood Global Energy Group estimates that all nine discoveries made by ExxonMobil in the Stabroek Block last year were high impact, each amounting to more than 100 million barrels of oil equivalent. The firm also determined that the Barreleye, Patwa,...
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Norway awards 47 new oil and gas exploration licences

OilNOW -
Norway’s Ministry of Petroleum and Energy has issued 47 new oil and gas exploration licenses on the Norwegian continental shelf to 25 companies. This move is regarded as critical to Europe’s energy security as Russia continues to hit much...
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Dutch company to supply 24 jumpers for US$12 billion Uaru Project

OilNOW -
Dutch Manufacturer, Strohm B.V has won a contract to supply ExxonMobil Guyana with 24 jumpers for its Uaru Project in the Stabroek Block. This marks the second contract for the Dutch firm from Guyana, with the first being awarded...
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Unrealistic local content standards for jobs is counterproductive – Professor Haar

OilNOW -
International Business Professor, Jerry Haar believes that having unattainable standards in Guyana’s Local Content Policy would be counterproductive.  Professor Haar alluded that the targets for the hiring of skilled Guyanese are unrealistic and should be revised if the country wants...
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Guyana has made more money from oil so far, than its 2021 national budget

OilNOW -
Direct revenues from oil sales, royalties, and interest in the first three years of oil production offshore Guyana amount to more than US$2 billion. Before oil production started, the government had not exceeded such spending in any of its national...
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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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