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One of world’s largest iron ore companies deploys 10-member team to Guyana with focus on renewables

OilNOW -
A ten-member team from Australia-based Fortescue Metals Group (FMG) arrived in Guyana on Friday to pursue talks on investment opportunities in the new oil producing South American country. The team, led by FMG’s Deputy Chief Executive Officer (CEO) Julie Shuttleworth...
News

Impassioned calls made for investment, strong partnerships at launch of Canada-Guyana Chamber

OilNOW -
The building of strong partnerships and need for robust investment across a number of sectors in Guyana were underscored on Friday at the launch of the Guyana-Canada Chamber of Commerce held at the Arthur Chung Conference Centre, on the...
Exploration

Equinor comes up dry in Barents Sea

OilNOW -
Equinor Energy AS, operator of production licence 960, has come up dry at the wildcat well 7018/5-1 in the Barents Sea. The well was drilled about 100 kilometres southwest of the Snøhvit field, and about 195 kilometres west of...
Exploration

Brazil’s Petrobras could turn to Guyana for offshore acreage, CEO says

OilNOW -
(S&P Global) Brazilian state-led oil company Petrobras could turn to Guyana for access to acreage along South America's equatorial margin if local environmental regulators do not grant permits to drill in Brazil's Foz do Amazonas Basin, CEO Roberto Castello...
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In a low oil price world fiscal terms will have to be competitive, but contracts must also be progressive – expert says

OilNOW -
The world is moving now faster than ever towards renewable energy sources and this along with other factors that impact the demand for oil means that going forward, prices are not likely to increase beyond $50 per barrel. This,...
News

U.S State Department supporting oil spill response preparation efforts

OilNOW -
With Guyana now being an oil producing nation that currently has one operational field within the multi-billion barrel Stabroek Block as well as two other slated to begin production by 2025, the country has placed keen focus on oil...
Exploration

Touchstone makes significant gas discovery in Trinidad and Tobago

OilNOW -
Touchstone Exploration Inc. said Thursday drilling at the Cascadura Deep-1 exploration well on the Ortoire exploration block onshore Trinidad and Tobago encountered significant hydrocarbon accumulations based on drilling and wireline log data. The Cascadura Deep-1 well was drilled to a...
News

Guyana to be centre of drilling activity in ‘great ramp up’ of this decade – Kevin Ramnarine

OilNOW -
New oil producer Guyana is on an unprecedented growth trajectory that will see a rapid increase in aggregate demand for goods and services in the economy this decade which means the South American country must ensure it has the...
News

Guyana’s Central Bank mitigating risks, levelling playing field as country prepares for massive economic takeoff

OilNOW -
The Bank of Guyana (BoG), which is the central banking institution of the new oil producing nation, is undertaking several initiatives geared towards creating and maintaining a favourable and stable fiscal environment. This is being developed, particularly to cater...
News

World class oil and gas institute planned for Guyana, will also service the region – President Ali

OilNOW -
The Guyana government has commenced discussions for the establishment of a ‘world class’ oil and gas training institute in the South American country that would also serve the needs of the region. This was disclosed by President Irfaan Ali, during...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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