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Diplomat calls on more U.S. companies to set up shop in ‘land of many waters’

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United States Ambassador to Guyana, Sarah-Ann Lynch is urging internationally recognized American companies to set up shop in Guyana. She made the comment during the sod turning ceremony for a new Courtyard by Marriott in the compound of the Cheddi...
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Guyana EPA says it can ramp up US$30 flaring payment if necessary

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In the event that Stabroek Block operator ExxonMobil exceeds the 60-day limit for flaring during start-up as set out by the Environmental Protection Agency (EPA), the company can see itself paying more than the recently implemented US$30 flaring charge. Pursuant...
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Two major projects in queue off South America’s hottest new basin

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For the last decade no other frontier in the world has delivered the mega discoveries being made in the Guyana-Suriname Basin and from all indications, this is only the beginning. Experts say the basin contains over 20 billion barrels...
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60-day flaring allowance for Liza, Payara tougher than international benchmark – EPA

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Guyana’s Environmental Protection Agency (EPA) has disclosed that the 60-day allowance for flaring at start up as stated in the permits it issued to ExxonMobil for the Liza Phase 1 and Payara projects are tougher than the international benchmark....
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Rystad Energy says NPV for Suriname’s 11 active blocks will generate ‘substantial cash flows’

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Norway-based Rystad Energy says the Net Present Value on projects on active blocks in Suriname will generate substantial cash flows as the South American country takes a giant leap forward with its game-changing discoveries. “These assets, when developed, could boost...
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Guyana government set to invest almost GY$500 million per day in projects for remainder of year – President Ali

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During Cabinet deliberations on Thursday, the Irfaan Ali administration examined government’s expenditure portfolio and profile and the investments critically needed to transform the new oil producing country. “Just to let you understand how important this is, for the remainder of...
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Hess anticipates drilling US$1B into Guyana oil developments next year

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Even as it keeps a close eye on market forces and how those may shift to affect its capital allocation, Hess Corporation has disclosed that it intends to plug up to US$1B into oil development projects offshore Guyana next...
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Sod turned for US$20 million Marriott-branded hotel at Guyana’s largest airport

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President of Guyana Dr. Irfaan Ali said he is happy that more Guyanese are coming to the fore to take advantage of the conducive business climate and see the need to create ownership as the country continues to progress....
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Nigeria lawmakers pass landmark petroleum bill proposing lower royalty, tax rates

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Lawmakers in Africa’s most populous country, Nigeria, passed the Petroleum Industry Bill on July 1 after considering the report of the Joint Committees on Petroleum (Upstream and Downstream) and Gas Resources. Consultancy group Wood Mackenzie said this is a significant...
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Surge in FPSO awards to double fabricators’ pipeline, Yellowtail next in line for Guyana

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Norway-based Rystad Energy said in a report on Thursday that the FPSO market is booming this year, with more contracts awarded in the second quarter of 2021 than during the full year 2020. The consultancy group expects FPSO awards...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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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