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Tullow Oil abandons Namibia well

OilNOW -
Reuters) - Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, the company said on Monday. “The Cormorant-1 exploration well in the PEL-37 licence, offshore...
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Eni recognized as Global Compact LEAD by UN

OilNOW -
Italian multinational oil and gas company Eni announced on Monday that it has been recognized as Global Compact LEAD, demonstrating the company’s ongoing commitment to the United Nations’ corporate sustainability initiative. The decision was revealed at UN Headquarters in New...
News

US depends on Venezuelan oil, unable to stop importing overnight – Ambassador

OilNOW -
(Sputnik) - Venezuela is not satisfied with its quota for oil production under the Vienna agreement of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers and is currently taking measures needed to restore its level of...
Exploration

Dept. of Energy likely to take lead on local content – Dr Bynoe

OilNOW -
Head of Guyana’s Department of Energy Dr Mark Bynoe says the Local Content Policy development which was some time ago transferred to the Ministry of Business from the Ministry of Natural Resources is likely to be handed over to...
News

Islamic finance institutions invited to Guyana next year

OilNOW -
 - Private sector could benefit significantly from investment facilities Representatives from several Islamic development and finance institutions could arrive in Guyana early next year at the invitation of the country’s Minister of Finance, Winston Jordan. The South American country became the...
Exploration

Global oil consumption will reach 100 million barrels per day in next few decades

OilNOW -
(Reuters) - Sometime in the next few weeks, global oil consumption will reach 100 million barrels per day (bpd) - more than twice what it was 50 years ago - and it shows no immediate sign of falling. Despite overwhelming...
News

‘Make cost recovery audit public; amend Procurement Commission Act’ – Persaud

OilNOW -
On the heels of nine major discoveries offshore Guyana by ExxonMobil and its partners HESS and CNOOC Nexen and with the recent announcement of a major resource estimation by Eco-Atlantic, former Minister of Natural Resources and the Environment Robert...
News

U.S. preparing ‘actions’ in coming days against Venezuela, Pompeo tells Fox News

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(Reuters) - The United States is preparing a “series of actions” in the coming days to increase pressure on the Venezuelan government, U.S. Secretary of State Mike Pompeo told Fox News on Friday. “You’ll see in the coming days a...
News

ExxonMobil cost recovery, Petroleum Commission Bill among top priorities for DOE – Dr Bynoe

OilNOW -
Guyana’s new Department of Energy (DOE) is stepping up its operations and has placed two key items at the top of its priority list.  Head of the Department, Dr Mark Bynoe said in the short-term focus will be placed...
News

Granger signals intent to enter economic agreement with Barbados; calls on local private sector to avoid insularity

OilNOW -
Guyana’s President, David Granger has called on the country’s private sector to avoid the dangers of insularity, while pointing out that his government intends to continue pursuing regional economic cooperation. Referring to the private sector’s pivotal role in fostering economic...
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Steam turbines, oil tanks in Guyana for Gas-to-Energy project

US-based group Lindsayca-CH4 said two state-of-the-art steam turbines and two oil tanks arrived in Guyana on December 21, 2024.  The...

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