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Brazil working with OPEC but has no plans to join cartel

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(S&P Global Platts) Brazil is continuing to work cooperatively with OPEC but has no current plans to formally join the oil producer cartel, the country's energy minister said Nov. 17, noting rising domestic concerns over high oil and gas...
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Opposition moves to Parliament for answers on government’s failure to audit US$9B Liza 1 & 2 projects

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Guyana's political opposition has moved to Parliament with a list of questions it hopes would allow it to better understand why the government has not yet completed the audit of ExxonMobil’s Liza Phase 1 and 2 projects which total...
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SBM Offshore to build largest producing unit in company’s history for Exxon’s Yellowtail project

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SBM Offshore announced on Wednesday that it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for Guyana's Yellowtail Development project. The Dutch floater specialist said the award...
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TechnipFMC wins contract to supply subsea system for Guyana’s US$9 billion Yellowtail Project

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French-American conglomerate, TechnipFMC has been awarded a large contract by ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL), to supply the subsea production system for the Stabroek block's US$9 billion Yellowtail Development Project. For TechnipFMC, a “large” contract is between...
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U.S. real estate franchise RE/MAX enters Guyana market

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Internationally traded real estate franchise, Real Estate Maximums (RE/MAX) has joined the ranks of other top-notch companies that are eager to tap into Guyana’s lucrative oil market. On Tuesday, RE/MAX Guyana was launched at the Pegasus Hotel’s Sky Lounge. The...
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Hess recognized on Dow Jones Sustainability Index for 12th Consecutive Year

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Stabroek Block co-venturer, Hess Corporation, disclosed yesterday that it has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 12th consecutive year. In fact, the company pointed out that it is one of only three...
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Expert urges closer examination of draft local content policy, says oil companies compelled to act responsibly

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While the Guyana government is being commended for moving forward with a framework to ensure benefits to locals are maximised from the country’s vast oil and gas resources, one expert says it must be conscious of ensuring the Local...
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Oil rises on tight inventories

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(Reuters) - Oil prices rose on Tuesday, supported by the prospect of tight inventories across the globe, although the gains were capped by forecasts of an increase in global production in coming months and concerns over rising coronavirus cases...
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Guyanese Group forms strategic TT partnership to provide insurance services for oil sector

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With the Guyana government indicating via its draft local content policy and legislation that it wants to see more locals being tapped for the provision of insurance services, one group is taking the necessary steps to grasp the opportunities...
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Giant Yellowtail FPSO will have redundant gas compression capacity, other new technology – Exxon

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ExxonMobil says it is taking very seriously the issues that have been encountered on its first oil production vessel offshore Guyana with the gas compressor system and this is resulting in the implementation of new technology and measures to...
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Guyana’s local content spend hits US$350M in six months 

Guyana’s local business community continues to secure strong gains from the country’s oil and gas industry, with spending on...

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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