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Exxon’s costs subject to scrutiny by partners, Guyana government and third parties

OilNOW -
Officials at ExxonMobil Guyana say a layered system of reviews and audits are in place to ensure the integrity of the expenses that go into its cost bank. They made the comments during the 26th episode of Access ExxonMobil, published on...
News

Brazil pushing restart of cold rigs to boost crude production – Rystad Energy

OilNOW -
Research from Norway Group Rystad Energy shows that Brazil is driving a wave of cold-stacking floating rig reactivations as the state-owned Petrobras pushes for higher crude output by 2030. In oil and gas, cold-stacking is the equivalent of shuttering a factory...
Exploration

New start-up venture by Stena Drilling to focus on well construction, decommissioning

OilNOW -
Stena Drilling has announced the launch of its new start-up ‘Stena Wells’ – a venture aimed at providing fully managed well construction and decommissioning. Stena Wells is a separate entity from Stena Drilling, but the two companies will collaborate to provide...
News

Companies with bundled services “will not be recognised or counted” – Local Content Secretariat

OilNOW -
Guyana’s Local Content Secretariat (LCS) is clamping down on contract bundling, with companies at risk of not being certified compliant with the law. In a statement on Friday, the LCS noted that companies were issued “a final caution” to desist...
News

Heavy windfall taxes could make oil business financially unsustainable – Rystad Energy

Shikema Dey -
Windfall taxes have been introduced in some nations as a knee-jerk reaction to the global energy crisis to help ease the pockets of consumers paying the highest prices in decades for electricity, gasoline, and travel. Country’s such as Canada and the...
Exploration

Barbados to open auction for 22 offshore blocks in November

OilNOW -
Barbados is looking to test its exclusive economic zone for petroleum deposits, as it will open a licensing round for 22 offshore blocks later this year. The notice from the Ministry of Energy and Business said interested oil and gas...
News

Gas-to-Energy: World-class safety standards being used in pipeline design, construction – Exxon

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge, said the design and construction of the Gas-to-Energy pipeline will be of the highest standard, as plans move forward for the landmark project that is set to cut the cost of power by half in...
News

Small refinery for Guyana could make a big difference for energy security – VP

OilNOW -
Talk of Guyana having an oil refinery have ramped up in recent months. The governing administration is exploring options, having received proposals from eager investors. Though no final determination has been made, Guyana’s Vice President Dr. Bharrat Jagdeo believes that...
Exploration

Tullow expected to relinquish 20% of Orinduik acreage, enter new license phase

Kemol King -
The Orinduik Block partners are expected to relinquish 20% of the acreage as the first renewal period of the license draws to a close, taking approximately 360 square kilometers (km2) off the 1,800 km2 block. Eco (Atlantic), a partner in...
News

ExxonMobil Guyana announces sponsorship of Guyana Amazon Warriors

OilNOW -
ExxonMobil Guyana announced Thursday that it is the exclusive sponsor of the Guyana Amazon Warriors for the 2022 Hero Caribbean Premier League (CPL) tournament. It is the sixth consecutive year that the company has been sponsoring the Amazon Warriors. This...
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Latest News

Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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