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Guyana oil production, revenue stream to almost triple in 2022

OilNOW -
With the arrival of Guyana’s second floating production storage and offloading vessel (FPSO) next month and start of oil production by early 2022, at peak 220,000 barrels of oil per day (bpd) will be added to the already producing...
News

NASA satellite photos show oil spill at Venezuela’s largest lake

OilNOW -
(The Washington Post) The stench of gasoline burned through Verónica Barboza’s nose as she stood by the edge of Lake Maracaibo, one of the largest lakes in South America, on a recent afternoon. The soles of her shoes, she said,...
News

Islamic Bank to fund small hinterland hydropower plants in Guyana

OilNOW -
The Government of Guyana is lining up renewable energy projects to complement its planned gas-to-energy initiative in line with its plans to diversify and clean up the country’s energy mix. One of the latest of these is a hydropower...
News

Stabroek, Canje and Kaieteur blocks could deliver 15 billion boe, says head of Bourbon Guyana

OilNOW -
The massive Stabroek Block offshore Guyana along with the adjacent Canje and Kaieteur Blocks could deliver around 15 billion barrels of oil equivalent as more exploration campaigns get underway in the coming months. “Production of crude oil over the whole...
News

Local Content Bill to be tabled soon, institutional arm being created – Gossai Jr.

OilNOW -
Guyana’s much-anticipated local content legislation appears is close to fruition with an announcement by Senior Petroleum Coordinator at the Ministry of Natural Resources, Bobby Gossai Jr., that a Local Content Bill will be heading to the National Assembly when...
News

UN Secretary General says achieving 1.5 Degree goal tied to G20 nations going beyond pledges

OilNOW -
In order to limit global temperature to 1.5 Degrees Celsius, G20 countries, including China and the USA, must back their climate change pledges with firm action says UN Secretary General, Antonio Guterres. During the final official ministerial meeting that was...
News

Deepwater hotspot Suriname aiming for draft local content policy by 2022

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Suriname, Guyana's neighbour to the east, is looking to draft its local content policy by early 2022. Disclosing this was the country’s Minister of Natural Resources, David Abiamofo during his keynote address at the Suriname International Petroleum and Gas...
News

Oil to bricks – Nigeria’s new black gold

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(Reuters) - In Nigeria, a country heavily reliant on revenues from its oil exports, entrepreneur Ifedolapo Runsewe has identified another type of black gold: used car tyres. She has set up Freetown Waste Management Recycle, an industrial plant dedicated to...
News

Brazil’s 17th bid round disappoints with only 5 of 92 blocks sold

OilNOW -
Big international oil companies such as ExxonMobil, BP and Equinor opted not to participate in Brazil’s 17th bid round as the global pandemic rages on and the energy transition curbs investor enthusiasm. Brazil sold just five of the 92 blocks...
Exploration

Guyana government applauds ‘25 viable discoveries’, says local content remains key

OilNOW -
The Guyana government said on Thursday the latest oil discovery announced by ExxonMobil at the Cataback-1 well further enhances the country’s offshore potential, and that it is working to ensure Guyanese enjoy maximum benefits from the rapidly growing hydrocarbon...
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Noble, EDO and MATPAL gear up for recruitment drive in Guyana’s Essequibo region

The Noble Recruitment Drive is set to arrive in Parika in the Essequibo Islands-West Demerara region of Guyana on Sunday,...

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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