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Hess says high quality oil found at Uaru with potential for massive reservoir

OilNOW -
In a bid to optimize the sequence of development opportunities at the prolific Stabroek Block, ExxonMobil and Stabroek Block co-venturers Hess and CNOOC are looking to fast track field development where high-quality oil is found in large reservoirs, similar...
Opinions

The challenge of human capital and economic development in Guyana

OilNOW -
By Jerry Haar – OilNOW The Guyanese highly value education, and that bodes well as the country seeks to capitalize on its oil and gas largesse and finally build the nation that all Guyanese have hoped for since independence in...
News

Talks on ‘Arco Norte’ energy corridor to advance later this year – President Ali

OilNOW -
The Governments of Guyana, Northern Brazil, Suriname, and French Guiana are due for a meeting later this year on the planned regional energy corridor. Guyana’s President, Dr. Irfaan Ali made the disclosure during a press conference on Wednesday. The planned...
News

Guyana President confirms major ramp up coming in ExxonMobil’s oil production operations

OilNOW -
President of Guyana, Dr. Irfaan Ali on Wednesday highlighted plans by ExxonMobil to significantly ramp up oil production activities offshore the South American country which will see production hitting the 1 million barrels per day mark by 2027. During a...
News

Guyana could soon rake in US$80M for each oil lift as Goldman projects biggest jump in global demand

OilNOW -
American multinational investment bank and financial services company Goldman Sachs is forecasting an unprecedented jump in global oil demand over the next six months that would see Brent crude prices hitting the $80 mark by the third quarter of...
News

Hess reports US$252 million net income for Q1 2021, says Guyana projects remain on schedule

OilNOW -
Hess Corporation which holds a 30 percent stake in the Stabroek Block offshore Guyana reported on Wednesday a net income of of US$252 million for the first quarter of 2021. Turning its attention to operations at the Stabroek Block, the...
News

Exxon confirms Yellowtail as 4th development being targeted at Stabroek Block

OilNOW -
In announcing its 19th oil discovery at the Stabroek Block offshore Guyana on Tuesday, ExxonMobil also confirmed that it will be pursuing its fourth development in the Yellowtail area located 19 miles (30 kilometers) southeast of the Liza developments....
News

Disputes over tax, contract terms see Uganda struggling to reach first oil since major discoveries in 2006

OilNOW -
Uganda's long-delayed maiden oil project took a vital step to becoming more than a pipe dream this month but risks still hang over hopes of new export flows from East Africa, S&P Global Platts said in a report on...
Exploration

Finnish Group, Guyanese companies join forces to handle waste from offshore oil & gas assets

OilNOW -
One of the newest Oil and Gas (O&G) support companies to enter Guyana’s petroleum industry is Sustainable Environmental Solutions Inc. (SES), made possible through a joint venture agreement between Finnish company, Corena Group Integrated Environmental Solutions, and local companies,...
Exploration

Exxon hits pay at Uaru-2 in 19th Guyana oil discovery

OilNOW -
ExxonMobil announced on Tuesday its 19th discovery offshore the South American country of Guyana at the Uaru-2 well which will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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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