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Guyana hoping oil revenue will help remove development roadblocks

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The revenues derived from the oil and gas industry are expected to have a transformational effect on Guyana, particularly the standard of living. President Irfaan Ali recently stated during a public forum, that the funds will be instrumental in...
News

Staatsolie boss wants Guyana, Suriname to build world-class shore base as oil discoveries grow

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Both Guyana and Suriname are without adequate shore base facilities to support the growing needs of oil companies that continue to ramp up exploration and production activities offshore the two countries. But this state of affairs could change quite...
News

“No company will invest where they cannot get the appropriate margin” – Nigeria’s state oil firm

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(Reuters) - Nigeria’s state oil company is renegotiating commercial contract terms with major oil firms, its chief told Reuters, in a move that it hopes will keep investment flowing into a sector crucial for its economy at a time...
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Exxon lowers production levels in Guyana as faulty compressor sent for repairs

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ExxonMobil Guyana said on Friday that a technical team has safely removed the 3rd stage compressor from the package enclosure on the Liza Destiny FPSO and is preparing it for transport onshore. An initial examination determined that the unit has...
News

Oil edges closer to $60

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(Bloomberg) -- Oil rose toward $60 a barrel on expectations OPEC+ is committed to restraining global supplies even as the demand outlook improves. Futures in London climbed for a sixth day as they close in on a level last reached...
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Major opportunities coming for Guyanese suppliers to service Saipem fabrication yard

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Italian oilfield services company Saipem will soon commence a search for local vendors to supply goods and services for the operation of its fabrication yard and logistics area that is currently under construction in Guyana. Saipem has been awarded subsea...
News

Last offshore development approved in Guyana was one of the brightest lights in oil’s dark year – Westwood

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Updated November 28, 2021 Westwood Energy Group says 2020 will be remembered as one of the most challenging years in the history of the oil and gas sector as oil consumption fell to levels not seen since 2001. At one point,...
News

Some people will keep oil in the ground and it will be impossible to take it out, says Guyana VP

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Cognizant of the fact that the effects of climate change are becoming more severe year after year, world leaders have heightened steps to reduce carbon emissions. In fact, some countries have already begun introducing a carbon tax, the rationale...
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Former CEO of Petronas joins ExxonMobil Board of Directors

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Wan Zulkiflee, former President and Chief Executive Officer of Petronas, Malaysia’s national oil and Gas Company, was appointed to serve on ExxonMobil’s Board of Directors. According to the oil major, the former CEO had served Petronas from 2015 to...
Opinions

Rig count in Guyana-Suriname basin has doubled in 2 years

OilNOW -
By Hans Jacob Bassoe Bassoe Offshore In the span of just five years, ExxonMobil has had 18 successful discoveries in the Guyanese Stabroek Block alone and proven recoverable resources of more than 9 bboe.  And the operator does not plan on slowing...
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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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