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Liza Destiny FPSO formally on hire as Guyana set to become significant oil producer

OilNOW -
Dutch floater specialist SBM Offshore said on Monday it stands ready to play a key role in making a contribution towards the South American country of Guyana becoming a significant oil producer as it generates value for ExxonMobil in...
Opinions

1-Year Later: Advice for the Guyanese Nation on the event of first oil

OilNOW -
The following op-ed was first published on December 23, 2019. One year later, the advice from Trinidad and Tobago's former Energy Minister Kevin Ramnarine remains pertinent. By Kevin Ramnarine - OilNOW  Guyana is at the dawn of a new economic era...
News

Discovery of new onshore oil mega field boosts outlook for Mexico’s state-owned Pemex

OilNOW -
(Forbes) This December Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) made one of its largest oil and gas discoveries of the past three decades. The formation, dubbed Quesqui, is located onshore in Tabasco state, and is estimated to contain...
News

Oil declines, but losses limited as U.S.-China near trade deal

OilNOW -
(Reuters) - Oil prices slipped on Monday but held near recent three-month highs amid optimism that the United States and China are close to signing a trade deal, with President Donald Trump saying an agreement would be signed “very...
Opinions

The political economy of Guyana’s natural resource funds

Bobby Gossai, Jr. -
The economic case for natural resource funds is surprisingly weak. There is, however, an important political rationale for resource funds. The importance of natural resource funds (NRFs) lies in the effects that they have on the incentives facing political...
News

Guyana opposition flays government’s handling of oil sector as production begins

OilNOW -
A day after the official announcement signalling the start of oil production in Guyana, the main opposition party restated its position that the government has done a poor job in managing the emerging petroleum sector and preparing for the...
News

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,...
News

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...
News

Guyana is now an oil producing nation

OilNOW -
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...
News

Stabroek Block, Santos Basin set to add over 2.5 million b/d production by 2025 – WoodMac

OilNOW -
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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Latest News

Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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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