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ADNOC to train Guyanese for oil marketing unit

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Abu Dhabi National Oil Company (ADNOC), one of the world’s largest petroleum producers, has agreed to train several Guyanese who will eventually make up the nation’s Crude Marketing Unit. Vice President, Dr. Bharrat Jagdeo made this disclosure at a press...
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Richard Miller tapped as Tullow’s new permanent CFO

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Tullow Oil Thursday named its interim Chief Financial Officer (CFO) Richard Miller as permanent CFO and an Executive Director effective January 1. The company said Miller brings extensive oil and gas and financial experience to the role. He has been...
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Guyana in play as explorers go after 100 giant prospects targeting 36 billion boe

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Exploration and production (E&P) companies are going after high-impact prospects in effort to capitalise on recent high demand for oil and natural gas, caused by re-organising energy markets. Wood Mackenzie said, in Global Exploration: 5 things to watch in 2023,...
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Petrobras CEO departs to join state gov’t, new lead to be announced soon

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Petrobras is set to announce a new Chief Executive Officer (CEO) after its current lead Caio Mário Paes de Andrade departs to serve in the incoming administration of the governor of Brazil's São Paulo state. The move comes ahead of a...
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The People’s Perspective: Opinions on Guyana’s landmark Gas-to-Energy project

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Seen as potentially transformative, the Gas-to-Energy project is progressing with hopes of cheaper and more reliable power for Guyanese. For many, this opens a world of opportunities as the country has one of the highest costs of electricity in the Caribbean and...
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Early delivery of Payara pushing Exxon 2023 CAPEX budget

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Chief Financial Officer for ExxonMobil Corporation, Kathryn Mikells, said that the early delivery of the Payara project is the cause of the spike in ExxonMobil’s 2023 CAPEX budget. The company recently reaffirmed its commitment to spend over US$100 billion in...
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Global energy crisis forcing more “measured approach” to financing fossil fuels – WoodMac

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The ongoing energy crisis has caused investors to rethink financing for fossil fuels. According to Consultancy Group, Wood Mackenzie, the more measured approach accounts for real-world constraints on global financial institutions and corporations in making long-term financing and capital...
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EPA Head Kemraj Parsram: A level-headed warrior in Guyana’s oil development story

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With 11 billion barrels of oil equivalent (boe) unlocked in the Stabroek Block, there is an urgent need for Guyana to be outfitted with facilities to support the development of this massive resource base. These include laydown yards, deep water ports,...
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Oil block auction opens for South America’s high-value basin, 25 billion barrels at stake

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Guyana President Dr. Mohamed Irfaan Ali announced the opening of the country’s first competitive offshore bidding, early Friday morning, offering “25 billion potential barrels” to entrants. The round will be open until April 14, 2023. Evaluations and negotiations will follow,...
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Stabroek Block PSA terms enable mega projects at industry-leading standard- stakeholder

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While Guyanese authorities are criticised for the "generous" fiscal terms in the Stabroek Block Production Sharing Agreement (PSA), those very terms are being recognised for unlocking what is now the most low-cost, high-return resource base of the decade. Speaking at the ...
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Guyana to fast-track second gas power plant as energy demand rises

Guyana’s government plans to accelerate construction of a second gas-fired power plant, President Irfaan Ali said this week, as...

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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