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House ratifies Guyana’s low carbon development strategy

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Following several months of technical work and extensive nationwide consultations, the National Assembly ratified Guyana’s new and expanded Low Carbon Development Strategy (LCDS) 2030 on Monday. LCDS 2030, an update to the one launched in 2009 by then President Bharrat...
News

Transocean nets US$1.2 billion in drilling contracts for Brazil, Gulf of Mexico

OilNOW -
Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling in Brazil and the Gulf of Mexico. The combined value of these contracts exceeds US$1.2 billion. The Swiss-based driller said the...
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Oil exports to surpass US$3B; to represent 59.7% of Guyana’s GDP this year – IDB

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The Inter-American Development Bank (IDB) has commented in one of its latest publications that Guyana’s oil boom will drive hydrocarbon exports beyond US$3 billion this year and also account for 59.7% of Gross Domestic Product (GDP). It further noted in...
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Production data for Liza, Unity Gold Crude show output peaked at 365,000 bpd in June

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Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...
News

Fire at Cuba oil facility spreads as 3rd tank ignites

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HAVANA (AP) — A deadly fire that began at a large oil storage facility in western Cuba spread Monday after flames enveloped a third tank that firefighters had tried to cool as they struggle to fight the massive blaze. At...
News

Builder of Guyana FPSOs now has best delivery time in the world for high-capacity vessels

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Dutch floater specialist SBM Offshore is the only company in the world to deliver floating production storage and offloading (FPSO) vessels with capacity above 120,000 barrels per day, on time, in the last five years. The company’s world-class performance is...
News

City Chamber will continue to advocate for sanctity of contract – President

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President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, said in relation to the 2016 Stabroek Block Production Sharing Agreement (PSA), that the organisation's code of conduct requires adherence to contract sanctity. “There's no changing of that,”...
News

South America’s offshore production will exceed onshore by 2024

OilNOW -
New wells drilled in South America in 2014 contributed to 8% of new wells globally in the offshore sector and 4% in the onshore. And according to Norway-based Rystad Energy, activity has been on a downward trend since then,...
News

‘Even if global solar capacity quadruples by 2030, it would not be enough’ – Int’l energy alliance

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The International Solar Alliance (ISA) – an international energy union working to make solar energy accessible to all – is advocating for more investments in solar energy projects. The alliance’s Director General, Dr. Ajay Mathur, argues that even if...
Exploration

Regulators are present on both FPSOs doing real-time monitoring – Bharrat

OilNOW -
The capabilities of key agencies tasked with monitoring the offshore oil and gas operations in Guyana have been strengthened over the last two years and work is ongoing to further build capacity as production ramps up in the new...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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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