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US gas production to surpass record 100 Bcfd by year-end, more growth expected in 2023 – Rystad Energy

OilNOW -
US natural gas production is forecast to hit an all-time high in the coming months, racing past 100 billion cubic feet per day (Bcfd), helping feed global demand as the world faces a severe supply shortage. Rystad Energy’s analysis...
News

Guyana will not engage in “unproductive splurge” of oil revenues – Vice President

OilNOW -
Guyana intends to invest billions of dollars in oil revenues in the country’s capital projects to build capacity and transform infrastructure.  According to the Vice President, Dr. Bharrat Jagdeo, this is “absolutely necessary” to get the most out of...
News

‘Africa’s gas resources can leapfrog continent’s transformation’ – Energy Chamber

OilNOW -
With total gas reserves of 620 trillion cubic feet, Africa’s gas resources provide the continent with an opportunity to leapfrog into its energy transition and reduce emissions and deforestation rates, while at the same time addressing energy security within...
News

Guyana’s largest shore base secures 11-year contract extension with Exxon

OilNOW -
The Guyana Shore Base Inc. (GYSBI) – the South American nation’s premiere shore base facility secured an 11-year extension contract to see it giving continued service to ExxonMobil’s Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL). GYSBI’s new contract...
Opinions

Understanding the Decommissioning Liability of EEPGL, Hess and CNOOC

OilNOW -
By Joel Bhagwandin - OilNOW There has been quite some misunderstanding and misinterpretation with respect to the accounting treatment of the decommissioning liability for the oil companies as reflected in their balance sheets. This article seeks to offer some clarity...
Exploration

Impact study required for 35-well campaign at Stabroek Block – EPA

OilNOW -
Guyana’s Environmental Protection Agency (EPA) said in a notice over the weekend that an Environmental Impact Assessment (EIA) of the cumulative effects of a 35-well campaign proposed by ExxonMobil at the Stabroek Block, is required before a determination can...
Exploration

Unlocking potential of Suriname’s 30 billion boe could be transformational – Legal Advisor

OilNOW -
The most striking news to emerge from Suriname’s recently concluded Energy, Oil and Gas Summit (SEOGS) 2022 was uttered by the Vice President of Offshore at Staatsolie, Glenn Corrie – that 30 billion barrels of oil equivalent awaits discovery in the South American nation’s...
News

Saudis say OPEC+ is effective, as Biden leaves region without oil deal

OilNOW -
(S&P Global Platts) Saudi officials said on July 16 that the country's oil production policies are implemented within the OPEC+ group as US President Joe Biden ended his four-day trip to the Middle East without a pledge for higher...
News

Eight vessels cleared for landmark Port of Vreed-en-Hoop project

OilNOW -
NRG Holdings Inc. now has a total of eight vessels in operation in the Demerara River to support dredging activities for the massive Port of Vreed-en-Hoop project at the Plantation Best foreshore on the West Bank of Demerara. Port of...
News

Guyana forging ahead with capacity building for electric vehicle industry

OilNOW -
The Guyana Energy Agency (GEA) has taken steps to build the capacity to repair and maintain electric vehicles as the country continues to pursue low carbon development opportunities. To this end, the GEA hosted an Electric Vehicle Maintenance and...
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U.S. Senator presents bill to strengthen security cooperation with Guyana amid Venezuela threats

United States Senator Michael Bennet (Democrat, Colorado) has proposed new legislation aimed at enhancing security cooperation with Guyana, deterring...

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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