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Liza Destiny ready for topside modules

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Dutch floater specialists SBM Offshore says work on the 1.6-million-barrel capacity Floating Production Storage and Offloading (FPSO) vessel – Liza Destiny, is progressing on schedule with all systems in place for delivery in 2019. SBM said that after finishing the...
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Oil claws back some losses after 6-pct plunge, but outlook still weak

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(Reuters) - Oil bounced by more than 1 percent on Wednesday to claw back some of the previous day’s 6-percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports. But...
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Favourable reservoir conditions and break-evens for development make Guyana a safe bet

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US oil major ExxonMobil is rapidly developing vast oil reserves discovered off the Guyana coast in what analysts say are ideal conditions for a solid return on investment that will result in massive revenue for the company and its...
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Guyana President returns home after medical treatment in Cuba

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Guyana’s President David Granger has been given the greenlight to travel home after receiving treatment over the past 3 weeks for Non-Hodgkin Lymphoma in the Caribbean island of Cuba. The Guyana Embassy in Cuba said in a statement on Monday...
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Trinidad presses dual gas supply from Venezuela

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Venezuela, Trinidad and Tobago and oil majors Chevron and Shell appear to be making progress on two separate projects that would develop and supply offshore natural gas, Argus said in a report on Monday. Venezuelan gas supply is critical for Trinidad,...
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Guyana submits Memorial on Jurisdiction to ICJ in Venezuela border case

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Guyana has submitted its Memorial on Jurisdiction in the case brought against the Bolivarian Republic of Venezuela to confirm, in a final and binding judgment, the full legal validity of the arbitral award that established the international boundary between...
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US support shows all parties now consider Venezuelan claim “unacceptable and fabricated”- Greenidge

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Guyana’s Foreign Affairs Minister Carl Greenidge has described as significant, the decision taken by the United States of America to stand behind Guyana on the controversy with neighbouring Venezuela. At a farewell reception for US Ambassador Perry Holloway on Friday...
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Oil climbs 1 percent on prospect of OPEC, Russia supply cut

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(Reuters) - Oil prices rose by around 1 percent on Monday amid expectations that top exporter Saudi Arabia will push producer club OPEC as well as perhaps Russia to cut supply toward year-end. Front-month Brent crude oil futures were at...
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Poorly conceived SWF could be worse than no fund at all – NRGI

OilNOW -
The Natural Resources Fund – Guyana’s version of a Sovereign Wealth Fund – could bring immense benefits to the country in the management of its oil revenue but the Natural Resources Governance Institute (NRGI) is warning that a poorly...
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Stabroek Block reserves could power over 16,000 rocket trips to the moon – Energy Factor

OilNOW -
The oil reserves discovered in the 6.6 million acres Stabroek Block located 120 miles of the Guyana coast will help to supply the world’s growing energy needs. The magnitude of the discoveries made so far by US oil major...
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ExxonMobil sees 60% year-on-year production boost in Guyana

ExxonMobil’s Chief Financial Officer, Kathy Mikells reported a 60% year-on-year increase in crude oil production offshore Guyana, during 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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