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Exxon’s 3rd well at Canje Block fails to deliver commercial crude

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ExxonMobil has failed to encounter commercial crude at its third well on the Canje Block offshore Guyana – Sapote-1, drilled by the Stena DrillMax. The well was drilled in 2,549 meters (8,362 feet) of water and safely reached a total...
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Guyana tying growth of oil sector with domestic, global low-carbon transitions – President Ali

OilNOW -
Guyana’s President, Dr. Mohamed Irfaan Ali, has recognized once more that Guyana will need to align the development of its oil and gas sector with global trends towards decarbonization. To achieve this, the President has outlined strategic objectives that...
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Guyana unveils ambitious renewable energy plans with launch of draft LCDS 2030

OilNOW -
A draft of the more ambitious version of the PPP/C government’s flagship Low Carbon Development Strategy (LCDS) dubbed LCDS 2030 was unveiled on Thursday by Guyana’s President, Dr. Irfaan Ali. LCDS 2030 will be aimed at creating a new -low-carbon...
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Solar, Amaila, & gas-to-energy projects will power over 200 villages by 2027 – LCDS 2030

OilNOW -
A draft of the Guyana government’s updated Low Carbon Development Strategy (LCDS) has clearly outlined how the administration intends to power hundreds of communities nationwide with clean energy sources over the next decade. During the launch of the document on Thursday,...
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Opposition calls for comprehensive studies on gas-to-energy project in motion to Parliament

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Guyana’s main Opposition party, the A Partnership for National Unity + Alliance For Change (APNU+AFC), submitted a motion to the Clerk of the National Assembly, Mr. Sherlock Isaacs, on Wednesday which calls for comprehensive studies to be done before...
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Hess says Yellowtail is one of the world’s best projects

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When one considers the low breakeven cost of the Yellowtail project despite projected inflationary pressures, it still emerges as “one of the best projects on the planet,” says Hess Corporation’s Chief Operating Officer (COO), Greg Hill. He made this...
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Exxon says it fully supports pragmatic, collaborative approach to building local capacity in Guyana

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ExxonMobil says it truly believes that building local capacity will play a key role in maximising benefits to the people of Guyana and fully supports a pragmatic and collaborative approach aimed at achieving this objective. “This year, we have participated...
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Hess maintains financial strength with US$155M net income in Q3

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Hess Corporation disclosed during its earnings call on Wednesday that it closed the 2021 third quarter with a net income of US$115 million, or US$0.37 per common share, compared with a net loss of US$243 million, or US$0.80 per...
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Maersk Drilling sells Mærsk Inspirer for US$373 million

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Maersk Drilling announced on Thursday the successful closing of the previously announced divestment of the combined drilling and production unit Mærsk Inspirer (now named Inspirer) to Havila Sirius for a price of USD 373m in an all-cash transaction. This transaction divests...
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Exxon’s mitigation measures will reduce emissions at giant Yellowtail development – EIA

OilNOW -
The greenhouse gas (GHG) emissions that would be released from ExxonMobil’s fourth development project at the Yellowtail field will be reduced by 80% as a result of the mitigation measures the company will be utilizing. This was highlighted in...
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Economist says Venezuela’s suspension of gas deals could be a ‘blessing in disguise’ for Trinidad

Trinidad and Tobago economist Dr. Justin Ram believes Venezuela’s decision to suspend its gas deals with the Caribbean country...

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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