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Energy Dept urges due diligence, commitment to best practices as Guyana attains oil producer status

OilNOW -
The much-anticipated start of oil production was announced last evening in Guyana signaling the dawn of a new era for the small nation of just over 750,000 people. In a statement following the announcement by the country’s president, David Granger,...
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Guyana’s 1st floating oil complex moored in position for decades of oil production

OilNOW -
Stretching from Quamina Street in downtown Georgetown all the way to New Market Street, some 1,115 feet away, the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel, at its highest point, is taller than the St. George’s Cathedral. The...
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Guyana is now an oil producing nation

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The South American country of Guyana has joined the league of petroleum producing nations with the official start of oil production at the Liza Phase 1 Development, announced on Friday December 20 by President David Granger, who proclaimed the...
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Stabroek Block, Santos Basin set to add over 2.5 million b/d production by 2025 – WoodMac

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The prolific Stabroek Block offshore Guyana and neighbouring Brazil’s Santos Basin will add millions of barrels of oil to global production by 2025, industry analyst Wood Mackenzie said in a recent report. The consultancy group said a challenging few years during...
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Capacity constraints casting dark cloud over oilfield service industry – Rystad Energy

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A dark cloud of capacity constraints is casting a shadow over the oilfield service industry heading into 2020, mirroring the sharp growth in the number of new projects being brought forward by oil and gas operators. About 250 new...
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Singapore jails tanker captain in Shell oil heist case

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(Reuters) - The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell’s biggest refinery over several years. Doan...
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Trinidad discoveries signal possible resuscitation of onshore production – Kevin Ramnarine

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Former Minister of Energy of Trinidad and Tobago Kevin Ramnarine believes that three recent discoveries of oil or natural gas in South Eastern Trinidad are a significant development and proves that land-based oil production can possibly be resuscitated in...
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Stabroek Block co-venturer CNOOC gets green light for Canada drill campaign

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Canada’s federal government has approved a new offshore exploration drilling project proposed by the China National Offshore Oil Corporation (CNOOC) set to begin in the Flemish Pass Basin — about 400 kilometres east of Newfoundland and Labrador, CBC said...
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Energy department warns of unrealistic expectations and promises in face of national elections

OilNOW -
As Guyana is approaching national elections, the Director of the country’s Department of Energy (DE), Dr. Mark Bynoe said the Department is cognizant of unrealistic expectations with regards to Local Content. Addressing the Guyana Manufacturing and Services Association’s (GMSA) Annual...
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ExxonMobil in talks with Guyana government to establish financing facility for small business

OilNOW -
ExxonMobil and the Government of Guyana are examining ways in which a financing facility could be established to provide much-needed capital to small and micro enterprise in the South American country. Speaking at a dinner hosted by the Guyana Manufacturing...
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Welligence says Chevron must tread carefully operating in Guyana because of border controversy 

Following the closure of the Chevron-Hess merger, market intelligence firm Welligence is advising that Chevron, now holding a 30%...

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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