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Major oil and gas exporters face unprecedented challenges in years ahead – new IEA study shows

OilNOW -
Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new...
News

CGX Energy agrees to settle all liabilities with Japan Drilling

OilNOW -
CGX Energy Inc. announced on Wednesday that it has entered into an agreement with Japan Drilling Co., Ltd. along with its subsidiary CGX Resources Inc., to settle all liabilities claimed by JDC from the Company arising from a drilling...
News

Liza Tier 1 contractor TechnipFMC sign major deal with MIDOR

OilNOW -
ExxonMobil Guyana Liza Tier 1 contractor TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. This EPC contract covers the debottlenecking...
News

Guyana oil production will more than quadruple by 2023 with Liza Phase 1, 2 and Payara

OilNOW -
Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2...
Exploration

President Granger approves Eco Atlantic’s transfer of 25% interest in Orinduik Block to Total Petroleum

OilNOW -
Eco (Atlantic) Oil & Gas Ltd said on Wednesday that Guyana’s President, David Granger, has approved the transfer of the 25% working interest in the Orinduik Block, offshore Guyana from Eco Atlantic (Guyana) Inc., a wholly owned subsidiary of the...
News

Guyana at cross-roads with big opportunity for security, stability – ASP

OilNOW -
In less that 24 months Guyana, located on the northern shoulder of South America, will begin producing oil from its vast offshore reserves discovered by US oil major ExxonMobil. The opportunity that oil wealth presents is clear, says the...
News

Oil exploration company plugs US1.25M into water conservation efforts

OilNOW -
Cataleya Energy Limited has funded a project in a remote village in the South American country of Guyana to tackle drought and create economic opportunities for residents in the Central Rupununi community. The US$1.25 million reservoir has the capacity to...
News

Brazil’s oil, gas reforms likely to continue under new President

OilNOW -
Brazil’s oil and gas industry is expected to continue seeing reforms boosting both investments and production, as President-elect Jair Bolsonaro puts an end to 16 years of labor party rule. The so-called far-right candidate won Sunday’s second round of voting...
News

Foreign companies team up to explore for oil in Grenada

OilNOW -
The Grenada government says two foreign companies have teamed up to continue the exploration of the island’s maritime space. In a October 29 report, the Antigua Observer quoted Grenada Energy Minister Gregory Bowen as saying that the Russian owned Global...
News

Suriname eyeing closer cooperation between ‘Three Guianas’ in O&G

OilNOW -
Suriname hopes to sign a letter of intent with Guyana in December in which areas of cooperation for oil and gas would be clearly defined. Surinamese Minister of Natural Resources, Regilio Dodson says the the Memorandum of Understanding is likely to...
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Libra Consortium announces first oil at third FPSO in Brazil pre-salt

Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production 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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