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Exxon reports steady progress in Guyana’s supplier-base, workforce capacity

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ExxonMobil Guyana asserted on Tuesday that the South American country has made steady progress in the expansion of the nation’s capacity to build a skilled workforce and create a competitive supplier base to support its oil and gas operations. The...
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Venezuela releases Guyanese fishing vessels, crew

OilNOW -
Venezuelan authorities have released the two Guyanese fishing vessels and 12 crew members that were detained almost two weeks ago by its navy. Guyana has maintained that the vessels were operating well within its waters at the time of...
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ExxonMobil launches new company to advance low carbon portfolio, reduce emissions

OilNOW -
ExxonMobil, operator of three deepwater blocks offshore Guyana, has announced the creation of a new business – ExxonMobil Low Carbon Solutions (ELCS) – which will be used to commercialize its extensive low-carbon technology portfolio. According to the oil major,...
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Exxon reports US$20.1 billion loss for Q4 2020 in most challenging year to date

OilNOW -
U.S. oil major, ExxonMobil on Tuesday reported an estimated fourth quarter (Q4) 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. The company said Q4 capital and exploration expenditures were $4.8 billion, bringing full-year spending to $21.4...
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Gas-to-shore could transform Guyana into regional manufacturing powerhouse

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The plans by the Guyana government to land a natural gas pipeline at Wales, on the West Bank of Demerara (WBD) is expected to have a transformational effect on manufacturing, and result in the sector becoming more competitive regionally....
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Guyana pushing Sustainable Supply Chain Management policy

OilNOW -
Guyana’s local content policy, which is currently being revised, will require oil industry operators to adopt Sustainable Supply Chain Management (SSCM) practices, and a planned Local Content Secretariat will coordinate all related activities at a national level. Giving the background...
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Gaico worker killed in accident at shorebase facility

OilNOW -
On Monday, Royston Souvenir, a worker attached to Gaico Construction and General Services Inc. was killed in an accident while on duty at the Guyana Shore Base Inc. (GYSBI). Reports indicate that the accident occurred around 12:30 pm when Souvenir...
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Venezuela bumps up January oil production by 100,000 b/d to surpass half-million b/d mark

OilNOW -
Average crude output by Venezuela's state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by S&P Global Platts. Also, the preliminary average of Venezuelan crude...
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Participants told over $70 billion spent on local companies at opening of Exxon’s Supplier Forum

OilNOW -
The Centre for Local Business Development on Monday opened its Virtual Guyana Supplier Forum which is geared towards increasing the participation of local companies in the oil and gas supply chain. Addressing the opening of the Forum, which was held...
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Oil paved way for over 20 suppliers, 15 sub-contractors and 212% ramp-up in staff – says Guyanese firm Gaico

OilNOW -
Within less than five years of joining the ranks of service providers for ExxonMobil which is leading development and exploration operations in the Stabroek Block offshore Guyana, Gaico Construction Inc. has matured into one of the company’s key Guyanese...
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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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