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Trinidad’s National Gas Company records TT$1.6 billion profit, helped by price rebound

OilNOW -
Amidst an aggressive push by State authorities to maximise earnings from its gas resources, the National Gas Company of Trinidad and Tobago (NGC) was pleased to disclose on Wednesday that it recorded a profit of TT$1.6 billion, together with...
Opinions

Prioritising Guyana’s Oil Revenue Spending: A Common Sense Approach

OilNOW -
By Dr. Lorraine Sobers - OilNOW What can Guyana learn from Botswana, Ghana, Suriname, Qatar, Trinidad and Tobago, the United Arab Emirates, and Venezuela? There is great interest in this type of analysis - gleaning lessons and best practices from...
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Guyana seeks consultant to review development plan for Exxon’s giant Uaru project

OilNOW -
The Government of Guyana issued on Wednesday, a request for Expressions of Interests (EOI) from suitable consulting firms to review the Uaru Field Development Plan (FDP) to be prepared by ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana...
News

Oil revenues could see Guyana public debt-to-GDP ratio plummeting to historic 13.5% – IMF

OilNOW -
Though Guyana is poised to produce over 800,000 barrels of oil from its four sanctioned projects, the Government has been prudent in guarding against wild spending and borrowing against the resources to come. And the International Monetary Fund (IMF) was...
News

Barbados offshore auction delayed to December 2022

OilNOW -
Minister of State in Foreign Trade and Business for Barbados, Sandra Husbands, said the government announced that its 2022 offshore licensing round will be launched on December 1, 2022. This represents a delay of one month, after previous information from the Ministry...
News

Keppel bags US$2.8 billion deal to build new FPSO for Petrobras

OilNOW -
Keppel Shipyard copped a US$2.8 billion deal from Brazil’s state-owned Petrobras for the engineering, procurement, and construction (EPC) of a new floating oil platform – P-83. Scheduled for delivery in H1 2027, the P-83 is a repeat order of the...
News

Guyana will produce over 93 million barrels of oil this year as growth in sector surpasses 100% – IMF

Shikema Dey -
Guyana’s oil sector has been on an upward trajectory since production began in 2019 from ExxonMobil’s Liza Phase 1 development. And now, the International Monetary Fund (IMF) sees the country’s oil sector gross domestic product (GPD) growing over 100%...
News

Demand for shore base capacity in Guyana to skyrocket with 10 FPSOs in play

OilNOW -
The demand for shore base support services is set to grow tenfold as Stabroek Block operator ExxonMobil eyes at least 10 floating oil platforms offshore Guyana around the end of the decade. Exxon is forging ahead with its exploration and...
News

Guyana to beef up port security as oil bounty drives up marine traffic

OilNOW -
Since oil production began in 2019, Guyana’s marine traffic has increased exponentially, and its Maritime Administration (MARAD) is working to ensure that security at the ports is strengthened. MARAD has turned to Chile through its Ambassador to Guyana, Juan Manuel...
Opinions

Agri Investment Forum and Expo II and Role of Oil and Gas Revenues

OilNOW -
Dr. H Arlington D Chesney – OilNOW During the period August 19-21, 2022, the Trinidad and Tobago (T&T) Government hosted the Agri Investment Forum and Expo II (AIFEII): Transforming Agriculture through Innovation and Investment. It followed one held in May...
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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.

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