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Oil exports remain key driver of Guyana’s GDP, says IDB in latest report

OilNOW -
The main driver of Guyana’s GDP in the medium term continues to be oil exports, which the International Monetary Fund (IMF) estimates will represent 38.2 percent of GDP in the 2020 –2021 period. This is according to the Inter-American...
News

Louisiana economic groups, GCCI talk up major trade mission

OilNOW -
Participants from the state of Louisiana Economic Development (LED) international department, the South Lafourche parish economic department and the Greater Lafourche Port Commission met with representatives of Guyana’s Georgetown Chamber of Commerce and Industry (GCCI) last month on the sidelines...
News

Ali urges AmCham to aggressively represent Guyana’s interest in U.S. market

OilNOW -
Guyana’s President, Dr. Mohamed Irfaan Ali on Wednesday told members of the American Chamber of Commerce (AmCham) Guyana that he is looking forward to them championing the country’s quest in the removal of barriers to trade. According to a press...
News

August 29 marked 2 years since the vessel arrived that catapulted Guyana on the world stage

OilNOW -
Over 1,000 Guyanese worked on projects that culminated with the commissioning of the country’s first floating production storage and offloading (FPSO) vessel on Saturday, June 22, 2019, in Singapore. The vessel then set sail soon after for the South...
Exploration

Rystad Energy says ‘numerous exploration prospects’ remain at giant Stabroek Block

OilNOW -
The prolific Stabroek Block offshore Guyana, covering an area of 6.6 million acres, still has multiple exploration prospects remaining with large swathes of the ExxonMobil-operated license still unexplored. This is despite the U.S. oil major and co-venturers Hess and...
News

Major Guyana oil & gas events poised to make a return in Q1 2022

OilNOW -
After a lull of more than a year for staging oil and gas conferences and exhibitions in Guyana due to the pandemic, several events are being planned, beginning in Q1 2022, that will see a mixture of in-person and...
News

Oil edges up ahead of OPEC+ meeting

OilNOW -
(Reuters) - Oil prices rose on Wednesday before an OPEC+ meeting in which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month through to December. The Organization of the Petroleum...
News

Venezuela August average crude production declines to 520,000 b/d

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(S&P Global Platts) In August, average crude production by state-owned PDVSA and its foreign partners fell to 520,000 b/d, slightly below the 524,000 b/d reported for July, and 535,000 b/d below the recovery target announced in April by petroleum...
News

Investors already showing interest in massive industrial operations as cheaper power looms – GO-Invest

OilNOW -
As the Government of Guyana pushes ahead with the planning and groundwork for the US$900 million gas-to-energy project, Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, says the agency is welcoming investors who can...
News

Hess will plug another US$150 million from Denmark asset sale into Guyana

OilNOW -
INEOS E&P A/S, which is a part of INEOS Energy said on Monday it has completed the previously announced agreement to acquire the subsidiary HESS Denmark ApS. for a total consideration of $150 million, effective January 1, 2021. Hess will...
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Latest News

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ExxonMobil’s Longtail project to operate for 30 years, producing premium condensate and gas

ExxonMobil’s next development offshore Guyana, the Longtail project, is being designed to operate for three decades, making it the...

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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