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Guyana must prepare for tectonic shift in development trajectory

OilNOW -
Billions of dollars in oil revenue and a plethora of new opportunities could potentially transform one of South America’s smallest nations into a regional powerhouse, but for this to occur, a concerted effort must be made by its people...
Opinions

Oil & public investments for Guyana’s overall development – not direct “citizen share”

Bobby Gossai, Jr. -
Oil earnings for an emerging economy such as Guyana should be turned into public investments rather than into increased private consumption. Most poor countries are severely constrained in their development by the under-provision of public goods. Economic development, though undoubtedly...
News

Bourbon supply vessel en route to Guyana sinks; 3 crew members rescued

OilNOW -
Following search operations of tug supply vessel Bourbon Rhode which started on September 26, the mobilized rescue teams have recovered a lifeboat with 3 crew members on board, the lifeboat having been identified by a Falcon 50 especially equipped...
News

SBM Offshore begins construction of Guyana’s 2nd floating oil production complex

OilNOW -
Dutch firm SBM Offshore has commenced the construction phase of the Liza Unity floating production, storage and offloading vessel (FPSO) following ExxonMobil’s final investment decision (FID) on the Liza Phase 2 development, in May 2019. This follows the recent delivery...
News

O&G opportunities will ‘pale into insignificance’ if Guyanese fail to unite – Energy Director

OilNOW -
The billions of dollars from oil production and multitude of opportunities opening up to the South American country of Guyana “will pale into insignificance” if the nation’s 750,000 people fail to unite. Director of Guyana’s Department of Energy, Dr. Mark...
News

Several countries “locked and loaded” to fill Saudi oil supply gap – Rystad Energy

OilNOW -
Several countries are “locked and loaded” to fill the oil supply gap left by the attack on Saudi Arabia, Rystad Energy said on Friday, which is according to its field-by-field analysis. Neutral Zone: around 520,000 bpd Iraq: around 290,000...
News

IEA may cut its oil demand growth estimates if global economy weakens

OilNOW -
(Reuters) - The International Energy Agency (IEA) may cut its growth estimates for global oil demand for 2019 and 2020, should the global economy weaken further, its chief said on Friday. The Paris-based agency trimmed in August its global oil...
News

Energy Dept. head says work not affected by political climate – provides update on several initiatives

OilNOW -
Director of Guyana’s Department of Energy Dr. Mark Bynoe says while the current political climate and parliamentary inactivity are concerning, the Department is forging ahead with its work including recruiting key staff and pursuing a number of initiatives, in preparation...
News

Over 70 contractors participate in Exxon safety workshop

OilNOW -
ExxonMobil Guyana held a safety workshop on Thursday for companies that provide onshore services to support its operations. The workshop focused on life saving actions, learning from incidents, field leadership and workforce engagement. Staged at the Pegasus Hotel in Kingston,...
News

ExxonMobil confirms sale of Norway upstream operations for $4.5 billion

OilNOW -
ExxonMobil announced on Thursday that it has signed an agreement with Vår Energi AS for the sale of its non-operated upstream assets in Norway for $4.5 billion as part of its previously announced plans to divest approximately $15 billion...
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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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