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China could become world’s biggest refiner by 2025

OilNOW -
(S&P Global Platts) Sinopec's Economics & Development Research Institute, or EDRI, foresee China becoming the world's top refiner with about 1 billion mt/year, or 20 million b/d, of capacity by 2025, its vice general engineer Ke Xiaoming said at...
Exploration

BPC spuds Perseverance #1 well in The Bahamas

OilNOW -
Bahamas Petroleum Company has spudded the Perseverance #1 well in The Bahamas, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. The company said on Monday the well was drilled on December 20 at...
News

Up-skilling of Guyanese has accelerated in the last two years – Lars Mangal

OilNOW -
The capabilities of Guyanese businesses in providing services to the emerging oil and gas sector have accelerated over the last two years as more companies move towards building capacity and improving their standards. In an article published in The Essential...
News

Entrepreneurs positioning Guyanese businesses for oil and gas bonanza

OilNOW -
A local online marketplace, aptly named Online Guyana (www.online.gy), was launched last week and is offering Guyanese companies the opportunity to market their products online. In a press update, the company said as the world, and Guyana, adjust to the...
News

Liza Destiny flaring reduced to ‘pilot levels’ as gas compression system fixed – ExxonMobil

OilNOW -
Flaring at the Liza Destiny FPSO has been reduced to pilot levels and the vessel is now producing oil at full capacity of 120,000 barrels per day. The FPSO, designed to ensure there is no routine flaring in its...
News

Guyana oil output hits 120,000 bpd as country celebrates 1st anniversary as producer

OilNOW -
Today marks one year since Guyana began producing oil. ExxonMobil Guyana said it is celebrating this significant milestone as the Liza Destiny floating production storage and offloading (FPSO) vessel reached full capacity of 120,000 barrels of oil per day...
News

One year later Guyana now firmly established as an oil producer

OilNOW -
Exactly 12 months have gone by since Guyana produced its first barrel of oil at the offshore Stabroek block where US oil major ExxonMobil is operator. This milestone came just under five years from the world-class Liza discovery in...
News

Farm-ins are routine in the oil and gas industry, ‘first movers’ take risks – expert says

OilNOW -
‘First movers’ and their small independent partners/companies take risks in acquiring exploration licenses for offshore blocks, as there is no guarantee that they will find a large partner to farm into these blocks. This is according to President of...
News

ExxonMobil building strong partnerships, sees Guyana capacity growing – Routledge

OilNOW -
Building strong partnerships with key stakeholders in Guyana and supporting the development of local business have been areas of special interest for ExxonMobil in its operations in the South American country. This is according to President of ExxonMobil Guyana, Alistair...
News

BP and Reliance start production at Asia’s deepest gas project

OilNOW -
India got a new supply of cleaner-burning gas on Friday after production started from R Cluster ̶ an ultra-deepwater gas project in block KG D6 off the east coast of the country, bp said in a press update. Chairman and Managing...
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Hess gives back Suriname oil block at Guyana border

U.S. oil company Hess has relinquished Block 59 offshore Suriname, a deepwater area located near the maritime border with...

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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