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Drillship company that discovered Liza well could soon file for bankruptcy

OilNOW -
The world’s largest owner of deep-water oil rigs, Transocean, could soon be forced to file for bankruptcy after measures it took to stave off this very possibility, seem to be backfiring.   While on contract with ExxonMobil, Transocean drill ship,...
News

US$200 million in revenue from 1 FPSO by year end, 2 more vessels on the way

OilNOW -
New oil producer Guyana has started to receive revenue from the sale of its offshore oil resources and government officials say these sums, which are set to increase exponentially in the coming years, will play a vital role in...
News

ExxonMobil says it remains committed to producing national resource with local workforce

OilNOW -
US oil major ExxonMobil said it remains committed to working with local companies in Guyana to help build their capacity so that they can better serve the growing needs of the country’s emerging oil and gas industry. The company began...
News

Hess sells interest in Gulf of Mexico field to plug another US$500 million in Guyana

OilNOW -
Hess Corporation announced Monday that it has entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of $505...
News

Farmers, service providers can benefit big from development of offshore oil resources – Vickram Bharrat

OilNOW -
The Guyana government is looking to ensure that benefits from development of the country's multi-billion-barrel oil resources are passed on to persons operating in every sector of the economy and not just those directly servicing the industry. “It’s not only...
News

New energy champion in Caribbean waiting to be crowned – Arthur Deakin

OilNOW -
Americas Market Intelligence (AMI) Analyst, Arthur Deakin, believes that South American neighbours Guyana and Suriname can avoid some of Trinidad and Tobago's mishaps by strengthening their institutions, improving their regulatory frameworks, and developing traditional sectors such as mining and...
News

Alison Redford advocated for full transparency in oil and gas on previous visits to Guyana

OilNOW -
Former Premier of Alberta, Canada, Alison Redford, who led a team of experts to review the work that was done by the Department of Energy for the Payara Development project offshore Guyana, strongly advocated for full transparency in the...
News

Guyana’s 8 billion plus barrels of oil only tip of the iceberg – Ramnarine

OilNOW -
The more than 8 billion barrels of oil equivalent resources discovered offshore Guyana since 2015 by US oil major ExxonMobil is merely the tip of the iceberg, with much more to come. Multiple drill targets remain on the 6.6...
News

Payara investment is twice Guyana’s GDP, country must profit from closing window of O&G opportunities – VP Jagdeo

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo, said on Friday the country is not in a position to raise the US$9 billion on its own that is required for the Payara development hence the need for investors, and further, moving...
Exploration

CGX long overdue for works on offshore blocks, has not drilled in years – Jagdeo

OilNOW -
As Guyana forges ahead with the development of its offshore petroleum resources which exceed eight billion barrels of oil equivalent at the prolific Stabroek block, there are, and understandably so, a number of companies knocking on the government's door...
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Latest News

Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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