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BHP to drill more wells in Trinidad after gas finds

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(Reuters) - BHP Group Ltd has stepped up exploration drilling in deep water off Trinidad and Tobago hunting for gas which could supply the country's Atlantic LNG (liquefied natural gas) plant in the 2020s, a senior executive said. The company...
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Rowan jack-up for Repsol drill campaign in Guyana

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Rowan Companies plc announced on Wednesday that Repsol Exploracion Guyana, S.A. has signed a contract for the EXL II, a high-specification Super 116E Jack-up rig, for work offshore the South American country. The contract is for one well beginning in...
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Guyana among 15 countries on oil spill response training course

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Training is underway for oil spill response managers in the wider Caribbean region at a course being held in St Kitts and Nevis during the period March 11-14. Participants from 15 countries, including Guyana, are attending the International Maritime Organisation...
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Saipem secures US$220M in new contracts, extensions

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Saipem has been awarded new contracts and extensions to existing agreements in onshore drilling worth approximately US$220M in total, the Italy-based company said on Wednesday. The new contracts involve projects to be carried out in Bolivia and Saudi Arabia, while...
News

Storage tanks explode at Venezuela heavy oil project

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Two storage tanks have exploded at the Petro San Felix heavy-crude upgrading project in eastern Venezuela, according to an oil industry source and a legislator, Reuters said in a report on Wednesday. According to the Reuters report, the tanks were...
News

Guyana gets thumbs-up from CDB for setting up fund to manage oil revenue

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The Caribbean Development Bank (CDB) is applauding Guyana’s efforts to establish a Natural Resources Fund as the South American country prepares for first oil in 2020. Speaking recently at the Bank’s annual news conference in Bridgetown, Barbados, Director of Economics,...
News

O&G on agenda as Lord Provost of Aberdeen set to visit Guyana

OilNOW -
Lord Provost of Aberdeen, Councilor Barney Crocket, is scheduled to visit Georgetown, Guyana this Friday (March 15). The visit is a follow-up to the Aberdeen Guyanese trade mission in November, last year. This was disclosed recently by British High Commissioner to Guyana, Greg...
News

Venezuela blackout halts most oil exports, hits crude upgrading

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(Reuters) - Venezuelan state-run oil firm PDVSA has been unable to resume crude exports at its primary port since last week’s blackout, according to people familiar with the matter, indicating that the country’s massive power outage is crippling the...
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Challenges to an extractives-led growth agenda for Guyana

OilNOW -
In the exploitation of many depletable resources, two separate investment activities can be distinguished that must take place if production is to continue in an orderly fashion: exploration and development. It is well accepted in economic theory that land...
News

World’s largest sovereign wealth fund to scrap oil and gas stocks

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(CNBC) Norway's trillion-dollar sovereign wealth fund plans to dump oil and gas companies from its benchmark index, the finance ministry announced on Friday. The move, initiated by Norges Bank which manages the fund, is designed to make the Norwegian government's...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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