Featured

Featured posts

News

Shell Brasil leases Maersk Developer to explore BC-10 field

OilNOW -
Maersk Drilling said it has secured a contract from Shell Brasil for the provisioning of the semi-submersible rig Mærsk Developer in the Campos basin offshore Brazil. The contract is expected to commence in March 2023, in direct continuation of the rig’s current...
News

Climbing costs leaving IOCs hesitant to sanction new projects, despite record profits

OilNOW -
Record high profits are doing nothing to prompt the sanctioning of new deepwater oil projects, according to Norway’s Rystad Energy. “Despite the high commodity prices and record high profits within the upstream industry, sanctioning of new oil and gas projects...
News

Whose is bigger? Brazil, Guyana will host world’s largest floating oil production vessels

Shikema Dey -
Oil production vessels definitely have a wow factor. Their sheer size, processing power and capability of operating for decades without pause make them truly impressive facilities. The ‘Egina’ is a beast of a floating, production, storage, and offloading (FPSO) vessel...
News

IMF urges fiscal discipline for spending oil money; Jagdeo says it’s being managed

OilNOW -
With a steady flow of billions of dollars in oil revenues expected, the International Monetary Fund (IMF) is urging Guyana to implement a strict fiscal rule to rein in excess spending. According to the IMF, Guyana is at high risk...
News

Saipem bags contract for largest discovery in 20 years off Ivory Coast

OilNOW -
Saipem said Tuesday that it got approximately €1 billion added to its order book to aid the Baleine Phase 1 Project, a development of an oil and gas field located at 1,200 metres water depth, off the Ivory Coast. Saipem said...
News

Guyana says new offshore model contract being finalised; auction imminent

OilNOW -
The Guyana government said the Cabinet is working to finalise the model contract which will apply to its offshore auction to be launched soon. The auction will be open for several months, giving companies ample time to prepare competitive packages,...
News

City Chamber’s Guyana Basins Summit over 90% sold out, exhibition open to public

OilNOW -
The second edition of the Guyana Basins Summit (GBS) is over 90% sold out and ready for its opening next week, October 4-6, 2022 at the new Pegasus Suites & Corporate Centre. The Georgetown Chamber of Commerce and Industry (GCCI) is the lead...
News

Guyana will not be like countries that splurge oil money, and have nothing to show for it – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo said he has seen many oil-producing countries around the world splurge their windfall revenues and have nothing to show for it in the end.  This, he said, will not be a fate that befalls...
News

Oil can “profoundly” transform Guyana’s economy – IMF

Shikema Dey -
With a discovered petroleum resource count of close to 11 billion barrels of oil equivalent, Stabroek Block operator ExxonMobil has churned out big wins for Guyana. Now, the International Monetary Fund (IMF) said that when this number tips over, Guyana’s...
News

Capricorn ditches Tullow merger for NewMed Energy

OilNOW -
British International Oil Company (IOC) Capricorn Energy announced a proposed merger with NewMed Energy to create a Middle East and North Africa (MENA) energy champion. The deal, which Capricorn said would create one of the largest upstream energy independents listed...
1...373374375...1,006Page 374 of 1,006

Latest News

Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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.

Quick Access

Company Info

Social Networks