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Transformation to oil producer in less than 5 yrs “unprecedented in the world” – Canadian High Commissioner

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The challenges facing Guyana as it prepares for oil production in 2020 will be bigger, since the country’s rapid move to first oil gives it less than 5 years from the initial discovery, to fully prepare. Outgoing Canadian High Commissioner...
News

Guyana can experience as much as 2000% increase in GDP over next 20 yrs – GCCI President

OilNOW -
The economic explosion Guyana is expected to experience with coming oil production can see the country’s Gross Domestic Product (GDP) skyrocketing by as much as 2000% over the next two decades, according to President of the Georgetown Chamber of...
News

Multiple foreign companies being incorporated weekly in Guyana – Nigel Hughes

OilNOW -
Director of the Guyana Oil and Gas Association, Nigel Hughes, says a development boom is clearly on the horizon in the South American country, fueled by the emerging oil and gas industry. But, it is up to Guyanese to...
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Guyana will get oil revenue from day 1 of production – ExxonMobil

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Revenue from oil production will begin flowing to the Guyana government from day one of production, ExxonMobil’s Upstream Operations Manager in Guyana, Doug Mc Gehee, has confirmed. He was speaking at the time at the launch of the Georgetown...
News

Canadian O&G trade mission due in Guyana expected to be first of many – High Commissioner

OilNOW -
Over 19 Canadian companies are expected to be participating in an oil and gas trade mission to Guyana during the week of September 11-15, which, according to outgoing Canadian High Commissioner to Guyana, Pierre Giroux, could be the first...
News

TechnipFMC shares slide

OilNOW -
(Reuters) - TechnipFMC's shares slid on Tuesday, a day after the oil services company said it had overstated its first-quarter net income by $209.5 million. TechnipFMC said late on Monday that the overstatement stemmed from accounting errors related to its...
News

No final decision yet on second FPSO for Guyana – ExxonMobil

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US super-major ExxonMobil says it has not yet made a final decision on a second Floating Production Storage and Offloading (FPSO) vessel for development and production operations offshore Guyana.With gross recoverable resources for the Stabroek block now estimated to...
News

Become “oil smart” urges US Ambassador

OilNOW -
US Ambassador to Guyana, Perry Holloway, is calling on all Guyanese to become oil smart. The Ambassador's call came just days before yet another discovery was announced by US super-major, ExxonMobil, off the Guyana coast. “This is a tremendously,...
News

ExxonMobil, Guyana officials “excited” about new discovery

OilNOW -
The announcement on Tuesday by ExxonMobil of a new oil discovery at the Payara-2 well has reinforced a widely held belief that significantly more oil than what has so far been detected may lie beneath the Atlantic Ocean offshore...
Discoveries

BREAKING: Exxon discovers more oil at Payara; pushing total to 500 million barrels

OilNOW -
ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the estimated gross recoverable resource for...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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