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Hess confirms potential for 10 FPSOs at Guyana’s Stabroek Block

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Hess Corporation said on Wednesday the development of hydrocarbon resources offshore Guyana now has the potential for up to 10 floating production storage and offloading (FPSOs) units particularly as the estimated gross discovered recoverable resources have increased to approximately...
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Stabroek Block resources jump to 9 billion barrels of oil equivalent – Hess

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Hess Corporation, a 30 percent stakeholder at the Stabroek Block offshore Guyana, said on Wednesday that the estimated gross discovered recoverable resources have been updated to approximately 9 billion barrels of oil equivalent (boe) on the block. In releasing its...
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Guyanese have ‘transferrable skills’ that can be used for oil and gas says OES VP

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In addition to employing Guyanese in the oil and gas industry, local content development also includes investing in these human resources and developing the skills and capacity needed to support the exploration and production activities in the South American...
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CNOOC records 131.2 million boe for Q3 2020, Guyana remains key overseas project

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China National Offshore Oil Corporation (CNOOC), a 25% stakeholder in Guyana’s Stabroek Block, said it achieved a total net production of 131.2 million barrels of oil equivalent (boe) for the third quarter of 2020, representing an increase of 5.1%...
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PETRONAS reports 2 dead in vessel collision with platform structures off Malaysia

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Malaysian oil and gas company PETRONAS said Tuesday an incident involving a vessel which made contact with platform structures occurred at the Baram field, 14 nautical miles off Miri at 6.23 am on October 27, 2020. The vessel, MV Dayang...
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As Guyana FPSO orders grow, one quarter of global floater fleet under threat of being scrapped

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The pandemic-driven downturn in the oil and gas industry is threatening the global floater fleet which could see up to a quarter of the installations being scrapped, even as orders for new oil producer Guyana is set to grow. Rystad...
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From jungle training to pandemic relief efforts – CDC volunteers making a difference

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The Civil Defense Commission’s (CDC) Voluntary Emergency Response Team (VERT) programme which began in 2018 with support from ExxonMobil Guyana, the University of Guyana, the Caribbean Disaster Emergency Management Agency and the Guyana Defence Force, is now playing an...
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T&T Energy Chamber and Staatsolie sign MoU to build HSE capacity in Suriname

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The Energy Chamber of Trinidad & Tobago (ECTT) and Suriname state oil company Staatsolie Maatschappij Suriname N.V. (Staatsolie) have signed a Memorandum of Understanding (MoU) to collaborate on building health, safety and environmental (HSE) capacity in the Surinamese oil...
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Venezuela says it has produced drug capable of eliminating COVID-19

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(teleSUR) Venezuela’s President Nicolas Maduro Sunday announced the discovery of a high-effective treatment capable of eliminating COVID-19 and pointed out that a drug will be presented to the World Health Organization (WHO) for certification. The treatment, based on a molecule called TR-10, was designed...
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Oil price slides below $39 as Libya ramps up production

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(Bloomberg) --Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya. Futures in New York...
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U.S. Senator presents bill to strengthen security cooperation with Guyana amid Venezuela threats

United States Senator Michael Bennet (Democrat, Colorado) has proposed new legislation aimed at enhancing security cooperation with Guyana, deterring...

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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