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Guyana can become key player on global oil market with increased production – API’s Chief Economist

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With Guyana expected to produce more than 800,000 barrels of oil per day by 2025, experts say that the country can become a key producer in creating global oil market balance as the demand grows and supply shrinks. Chief Economist...
News

“We are putting science and math fluency on the fast track” – ExxonMobil Guyana

OilNOW -
ExxonMobil has contributed $20.9M to the Volunteer Youth Corps. Inc.’s online after school programme for Science, Technology, Engineering, and Mathematics (STEM) education in Guyana. The company says this is in keeping with its commitment to invest in the country’s...
News

As global upstream spending struggle to recover, Guyana offshore continues to grow

OilNOW -
In just two years, the damning effects of the COVID-19 pandemic have affected upstream investments by a whopping US$285 billion. Due to these significant cuts, upstream spending will struggle to recover to pre-pandemic levels. Revealing these details recently was...
News

Another S/American country looking to increase oil & gas investments, speed up production

OilNOW -
Countries across the Latin America and Caribbean region have been increasingly pursuing measures that would enhance the competitiveness of their oil and gas sector and speed up production. Brazil, Trinidad and Tobago, Suriname and new oil producer Guyana are...
Opinions

Geopolitics of oil and water in Guyana: Part 1 – Ivelaw Griffith

OilNOW -
By Ivelaw Lloyd Griffith – OilNOW In the first of this two-part series on Guyana’s current flood travails, I offer an analysis of the country’s geography and environmental circumstances against the backdrop of the country as a petro state. The...
News

Gas set to play increasingly important role in new energy mix, says TT Prime Minister

OilNOW -
As transition strategies begin to take shape around the world, it is becoming more evident that natural gas has a key role to play in helping countries and organizations achieve ambitious targets. Making this fundamental point recently was Prime...
News

Caribbean governments want to develop oil & gas resources as fast as possible

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Despite criticism by some groups in Guyana that the country is moving too quickly with the development of its vast hydrocarbon resources, the government there as well as authorities in other Caribbean territories have recognised that the window to...
News

Hess increased stake in Kaieteur Block points to expectation of future discoveries – Rystad Energy

OilNOW -
Although the first and deepest well ever to be drilled in the Guyana-Suriname Basin on the Kaieteur Block failed to deliver commercial crude, upstream players on the acreage said the prospect yielded significant data. Tanager-1 reached a total depth of 7,633...
News

Suriname production expected to hit 650,000 bpd by 2030

OilNOW -
Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade,...
News

World’s first Fast4Ward FPSO will soon set sail from Singapore for 80-day journey to Guyana

OilNOW -
The Liza Unity FPSO, the first oil production vessel to be built by SBM Offshore using its pioneering Fast4Ward® program, will soon depart the Keppel Shipyard in Singapore for Guyana where it will be spread moored at the ExxonMobil-operated...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. 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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